KOR spends $600,000 over 4-years. NWA spends $0 over that...

KOR spends $600,000 over 4-years. NWA spends $0 over that period. KOR gets 60% of play and NWA gets 40%.

Not to worry anyway because NWA has cashflow now and no need to raise more cash. BTV does not have this luxury and may have to place more shares at a later date.

Given BTV already has 224 million shares listed and it's options ( total 80 million BTVO and BTVOA combined) only just in the money they could need to issue more shares. Last quarter they issued 43 million or in other words the nearly a 24% incease in shares on issue.

I would rather have a joint venture on favourable terms any day to the continual dilution effect of more and more shares being issued.

However each to their own.