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.
As the (apparent) S4S stock is being calculated at $3.161, and...
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