the next leg up could push the sp past 22c , page-14

Hi agent cooper,

The whole capital transaction came about due to superllc and it's debts being due late this year.
This debt needs to be refinanced and as it's a quite a huge ammount CNP and CER could not just sit there presuming that it will be rolled over.

At the moment the NTA is based without superllc in mind as any equity it had was given to cnp to help the banks go a little easier on them.

If dilution does occur i'm assuming that it will happen to superllc as it is the problem child. You are right that dilution may occur but it could be in ways more beneficial then harm.

In cers case SuperLLC = 0 NTA and provides 0 Dollars to CER. Its actually worth around 25 - 30c nta i think we worked out and makes very good money.

Heres some maths.
Aus portfolio + CFS portf + cwar1 + cwar5 = NTA of 30c

Lets add super llc now.

Aus portfolio + CFS portf + cwar1 + cwar5 +SLLC = NTA of 30c

hmmmm it seems superllc is having little effect on NTA atm.

lets play with superllc like an investment banks have been paid to do :)

Aus + CFS + CW1 + CW5 +(SLLC diluted to 50%)= NTA 30c
Aus + CFS + CW1 + CW5 +(SLLC diluted to 10%)= NTA 30c
Aus + CFS + CW1 + CW5 +(x2 equity in superllc)= NTA 30c
Aus + CFS + CW1 + CW5 +(give superllc to bank)= NTA 30c
Aus + CFS + CW1 + CW5 +(superllc likes icecream)= NTA 30c
Aus + CFS + CW1 + CW5 + (give superllc to shmi)= NTA of 30c

You get the picture?

However these calculations can be wrong as it can actually increase nta.......

If Superllc were to be diluted or some properties were sold etc etc.

This could stablelise the superllc trust and allow CER's equity to be returned to it's original rightful owner... CER :)

It would also allow it's earnings to make it's way up to the head stock ... CER :)

DYOR and check mine while your at it :)