Much of the growth in earnings for mainstream companies has come through share buyback programs. Since so much research and thought has gone into the spinoff, I would think they would issue enough shares of the new company to please everyone, while making it possible to still markedly influence the share price down the road with buybacks--a middle of the road approach.

Since the possible merger news months ago, I have been trying to figure out how they would get out from the huge share structure--the spinoff is the perfect solution. They can create a share structure to tailor all their objectives for years to come, and to use the huge amounts of cash that this sector will generate. I do trust that the team will do the right thing.

I also suspect that they would not have done the spinoff PR without having some communication from HC about the near-term status of the license.

I have listened to all of the Lakeshore meetings. Time and again, the Planner stated that Municipalities had a very hard time getting any information or guidance from HC. I do not think HC is holding up the license on the Lakeshore zoning issue. They outlined in the MMPR that Muni"s
needed to make their changes before[issue of the ready to build letter, since that stage reflected permission to make significant monetary investment. As Lawdogs has shown so well, we were in perfect compliance when we received our ready to build letter.