Thank you for your numbers again, which are beginning to have a serious impact on my thinking. My concern is with that massive new overhang of unearned and unexercised options, how much stock is being dumped into the current NOT/FWR market buoyancy only to be replaced later with more cheap stock. These are not insignificant amounts of stock from either a monetary benefit or a dilution viewpoint. Also, if you are an FWR retail holder, how keen will you be to take NOT paper in the face of an almost certain wave of future dilution to insiders. I really doubt that CLF and related affiliated parties will tender to this offer given the lack of transparency. As well, CLF will not want to be screwed as a minority holder in the combined company. So, regardless of relative valuation, FWR looks like a far safer and appropriate investment at least until this bid is resolved. We also know NOT has to push its price higher in the next few days simply to make the bid look attractive to retail. Somehow, I am thinking CLF has made a jump on FWR that NOT is attempting to remedy.