As the (apparent) S4S stock is being calculated at $3.161, and overall TERP including the S4S is actually about $2.85, they are getting GH for about $6.7m less than it appears in their presentation (21.6m worth $2.85 after dilution, rather than $3.161 pre dilution, funny they missed pointing that detail out). So you can knock off another half a percent for their EVx.
XIP Price at posting:
$3.02 Sentiment: None Disclosure: Not Held