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he did too in his analysiswe had 11.73m10m/6.5=1.53mand 1,338,152 warrantsyou get about 14.5m shares
As of 4/15/10, CNAM had 12, 609,280 shares:http://biz.yahoo.com/e/100415/cnam8-k.htmlWith the equity raise today, they will issue 3 million more shares.....1.5 immediately and another 1.5 in the next 5 years. Sorry......initially, I misread that as in the next 6 months, not five years:http://finance.yahoo.com/marketupdate/inplay
i think you might be rightIDSA is in the same business and they have similar cash/debt ratio before CNAM did secondary.I wonder if they will do the same