Well, let's see... $2.7 times 63,790,000 is $172,
Post# of 36537
$2.7 times 63,790,000 is $172,233,000 market cap
$172,233,000 divided by 43,696,150 is $3.94/share
$3.94 minus $2.70 is $1.24 divided by $2.70 is 45.92% (I was rounding before)
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TC. Where are you getting 46.5% from. My math says 31.5%. 63,790,000-31.5%=20,093,850 Leaving 43,696,150