I think you need to rethink some of your math. You are not taking into account that existing CAN shareholders will be diluted down by 1/3 following this transaction. It remains to be seen what the Shark assets are really worth and what the new team has in store for us going forward. Share price of the Canaco-Orca entity will also be adjusted lower post spinout of EAF.  An unrealized profit of 0.40 won't just appear out of thin air.


3 shr of CAN = 1 shr of Orca + 1 shr of EAF


You seem to think that  3 shr of CAN + 1 shr of EAF = 1 shr of Orca which I believe is incorrect.