Oh boo hoo
So lets discuss IGS.
So what's your thoughts on the dilution you participated in (200,000,000 shares and 100,000,000 options) and massive dilution coming and the planned consolidation? (Market hates consol's as we all know)
My ruff of on the back of an envelop. Puts the dilutions at 2,852,160,000 shares making total issued at 3b shares just on this pot deal.
As of Fridays market cap. With out options. This dilution would put the share price back at .0012c pre consol
You would certainly want to get out before then!!
No wonder they are dumping their .0025c shares. 22m today. Me thinks they might end up holding the bag on this one.
IGS has completed a short term (6 month) funding facility of AUD$500,000 to fund currently working capital and the deposit. The facility is convertible in to IGS Shares and Options at $0.0025 (with a 1 for 2 $0.0025, 2 year option) subject to all necessary regulatory and shareholder approvals being obtained;
AUD325,000 deposit (50% as option fee, 50% as 6 month interest free unsecured loan) payable to the shareholders of Winter Garden
$175,000 working capital. Or as Macleod22 calls Admin and consulting. "Skimming"
That's 35% of the raising to the Directors from the $500,000. Expected cash listed in the last Q (March) was $185,000.
Well at least they will be able to be paid for the Q. That's a relief.
My research seems to indirect that
Jardin De Invierno SA run schools. Do I have this right??
What's your thoughts on a public listed Argentinian company who runs schools now running a dope lab??
