Zargon Oil & Gas Ltd ZARFF

shares at 10 cents = 6.7% debenture holder dilution

[pablo87]

thats all it is. on a $40M deal for the company, they get $2.7M or 9 cents, Debbie's get $36.3M or 85 cents on the dollar. 5 cents instead of 10 transfers I believe $1.35M from shareholders to Debbie's. We either get diluted by 3.35% or by 6.7% ( diluted in the sense that in a formal restructuring shareholders get nothing). I'm away and probably can't vote (the code is in the mail) I'd rather vote no to 10 cents and yes to 5 (mainly because we all know we're going to get diluted in other ways...) but then I'd rather vote yes to 10 cents if the alternative is.bk. There is no doubt in my mind (...) that no debt = viable and sellable entity and the EV bleeding would cease at least if WCS recovers. YMMV.