Share Capital - Dilution, page-32

The reverse takeover from Whitestar to Spookfish combined with Eagleview partnership is quite the mind bender indeed. If you assume that Eagleview takes up it's entitlement to aquire 250 000 000 shares for $20M and hold 19.9% of SFI this equates to a SFI MC of approx $100M. Issue all of the contingent Milestone and Revenue shares which would be triggered for this to happen and shares on issue would end up being around 1.5 billion. This values SFI at around 6.5 cents per share by Eagleview when they partnered with SFI. Shares on issue moves that number around a bit but the point is SFI is cheap for what it can deliver in the future.
Cheers, GF