Existing shareholders would be cleaned out given they only retain 2% of their original holdings. However, the pro-forma balance sheet is now $239m with 1.7 billion stocks on issue. They have $92m cash and $89m debt, so slightly cash flow positive. This implies net assets of around 13c per stock or so. The current price is 4.7c.
I think the past cash thrown in was bad, but going forward, may actually be a different story.
Ann: Pro Forma Balance Sheet, page-2
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$8.20 |
Change
0.460(5.94%) |
Mkt cap ! $2.955B | |||
| Open | High | Low | Value | Volume |
| $8.04 | $8.32 | $7.90 | $30.65M | 3.704M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3000 | $8.20 |
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| Price($) | Vol. | No. |
|---|---|---|
| $8.22 | 2649 | 1 |
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