Placement, page-15

So this is how I see current situation. Adding in the extra 100mill shares, the company will now have 665mill shares on issue. At current .5c share price that's $3.32mill marketcap.

As at end of March 17 they had $366K in the bank. It seems that this includes the US$100K up-front payment for due diligence (approx $130K shows in cash flows from investing activities of 4C). Expected expenditure for this quarter of $176K. And $450K just raised (most likely expense of raise around $50K) so let's assume $400K. So as at end of June we can expect cash balance to be somewhere similar to 366 - 176 + 400 = $590K.

HOA for acquisition says another payment of US$400K upon completion of due diligence. That's around $500K and due diligence was given up to 3 months (takes us to end of June or thereabouts).

Clearly another raise will be needed. I suspect, as there was no attempt to raise any more than needed for now, that there will be plenty of news flow leading up to the next CR. If they can raise then next $500K at .8c rather than .45c, then dilution will be limited again to another 65mill or so of shares. We end up with 730mill shares. A $15mill MC target would mean therefore a share price of 2cents. This imo is a reasonable and achievable target should there be good news flow. What's your thoughts Soothsayer (in all sincerity) and others?