It is about time to get this knowledge (re: dilution); better late than never. By the way, it’s also good time to say thankyou to this board’s pumpers telling for long time stories that everything is ready for production; just get permit and go forward to huge riches. What the point to spend $10-15M capex if everything is ready?
Please note that capex doesn’t include S&GA expenses (i.e. payroll) and/or exploration/drilling in another project. Management did great job, firstly, by getting rid of profitable division and, secondly, by bailing out JV partner (that was likely unable to find these 10-15M) by giving up the last cash.