A NOBO/OBO accomplishes the same goal IMO. Nothing should be stopping Treaty from doing this that I'm aware of. Am I missing something? And yes, a R/S would be bad for shareholders IMO, especially if it would lead to dilution. The NSS would have a field day... AGAIN!!! Now, the R/M approach, assuming 1:1, would be fine. First things first, however. Let's see that Audit!