Taken from http://www.iii.co.uk/investment/detail?code=cotn:NGL.L&display=discussion
The Dilution: From the 220m shares in issue about 5 months ago,it has risen to the current 358m with another 70m to be added within a few weeks. This excludes the conversion of CLN into equity and this could take the dilution easily to 600-700m. This also does not take into account the exercise of warrants which could take it to 1billion shares in issue( although warrants are only exercisable at 12 p ).
Some say at this price what is the point in selling, but with this level of dilution, is there any point to stay? Are we just looking for a greater fool?
Sorry for the negative tone.
win win, page-8
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