"Malmanu they have 380m warrents which are 2c Dec 13.
They also issued 288m vendor shares at 1.8c..."
According to latest 3B ,
380,833,402
Options exercisable at 0.8c expiring 31 March 2014
As for the 288m vendor shares at 1.8c that was issued to form a subsidiary i believe and i dont think they got any cash.
2m was raised in july from short fall from a previous cap raising. They had 200K at jun end report .So half of that 2.2m would most likely have been spent in the past 3 months.
Too many unknowns to value this properly at this stage imo.
Yes there are warrants as well i should mention.
350,000,000
Warrants exercisable at 2c expiring 14 December 2013
18,750,000
Warrants exercisable at 0.8c expiring 14 December 2013
When/if the 2c warrants get exercised it will have almost 4.5B shares and 90m valuation. Maybe thats either cheap or expensive depending on future cash flow from their deals. At this stage i have no idea. How much more money do they need to fund all the deals and corporate costs until positive cash flows come.
WAS Price at posting:
0.5¢ Sentiment: None Disclosure: Held
