I never said JJ would only own 80-90%, unless that was in the early stages of the lending spree. For sometime now they indirectly own 99.999999999% of Liberty. Even moreso after this announcement. That is of course if all debts, preferreds get converted. And lucky for you they only converted a small amount which increased their ownership by an extra 10%.
If all preferreds and debt were converted (at $.11) there would be close to 1,000,000,000 shares outstanding. I'll let you do the math if your capable on that one.
Now Big Bucks, you should do some more math and calculate how many more shares you must now buy in order to maintain your old percentage of ownership.
Why don't you speculate on what a deep shaft at Hart would cost along with the train etc (if that is still the Gary Nash plan for JJ to follow). I know, more math to figure out.
A reprieve of 18 to 24 months has been given. No doubt that JJ felt that Gary Nash would not meet any targets in that time frame, and hence the boot.
