Stockartist, I agree that my calculations have taken to full 8m in cr and not 4m, but your list doesnt include the 120m performance right shares - which takes the total to nearly 400m shares that will be on issue - or i should say possible to be on issue post consolidation.
The 120m shares do require the delivery of certain performance and will be subject to escrow provisions.
I would also add that the amount to be raised in the cr is still somewhere between $3m and $8m which is yet to be determined
To me Management havent done the current shareholders any favours in deciding that the cr will be at .05 and not stating who the cr will be open to. This in a way has capped the current sp at .002 as this sets the post consolidation sp at .09 - this means that the cr will be issued at around 44% discount
DYOR
Stockartist, I agree that my calculations have taken to full 8m...
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