That's a good analysis of the situation. The entire thing is way to loose to get accurate numbers on what will actually happen, but, accepting a bit of grey fudge your numbers present a scenario which is most likely to be the worst case and best case of dilution.
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As I've already mentioned, my brief analysis & intuition fwiw, tells me that this is already factored into the share price. Excellent long term opportunities are there for those who buy the dips.
NHC Price at posting:
$3.32 Sentiment: Buy Disclosure: Held
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