the intelligent investor

The loss to shareholders is the difference between the market price of the shares and the issue price:

              Market price of shares issued on exercise of warrants:

                                     43.5 million x $136                            $5,916.0 million

           

              Exercise price:

                       

                                      43.5 million x ^$115                             $5,002.5

              Loss:               43.5 million x  ^$(136-115)                  $   913.5 million

              The loss is not tax deductible.