Australia's largest stock trading and investment forum Australia's #1 stock forum

NXR

0.00%

2.0¢ nemex resources limited

@Bluey Nice mate. Hadn't had chance to try work through prop...

First 7 Last

Share
Profile

Follow
FullMoonFever

4,498 Posts.

310

28/10/17

19:18

Post #: 28281795
Share

Originally posted by Bluey ↑

G'day FullMoonFever

I'll have a go at working through the exercise from your description, I am probably way off the mark, please advise / correct

Thanks

Bluey

A company search on the ASIC website reveals (22nd September 2017)
WBT have 375,115 shares on issue
NXR hold 149,407 shares
remaining 225,708 shares held by private investors

NXR have 244,925,421 shares as at 22nd September 2017

NXR has option to increase their existing holding to 51% by paying $1,750,000, that would see
NXR holding 234,921 shares in WBT
WBT private investors 225,708 shares
total 460,629 WBT shares on issue

NXR have advanced WBT $950,000 at a interest rate of 20% per annum ($520 interest per day approx.)
From 2017 NXR Annual Report (30th June 2017)
accrued interest $351,004
plus the loan $950,000
total outstanding $1,301,004
therefore a payment to WBT of $448,996 would have seen NXR holding 51% of WBT

If I understand your method NXR would issue shares to WBT to the value of $448,996
say at 2 cents per share would equal 22,449,800 NXR shares to WBT (will call top up shares)

Now at this stage NXR would have increased their holding to 212,981 shares or 48.55% of WBT by way of loan and interest ($1,301,004) therefore NXR would only issue 51.45% of the top up shares or
11,550,550 shares to be distributed to WBT private investors

If the above were to have taken place
NXR would of had 256,475,971 issued shares
WBT would of had 460,629 issued shares
of which NXR holds 234,921 shares or 51%

NXR proceed to take 100% of WBT by converting WBT equity to NXR equity

51% of WBT equates to 256,475,971 NXR shares
100% of WBT equates to 502,894,061 NXR shares

At the end of the exercise NXR is in total control and have 502,894,061 shares on issue, all we need now is a few million dollars, relist, prove and commercialise the technology

Expand

@Bluey

Nice mate.

Hadn't had chance to try work through prop myself yet but then recalled we were going to go to 100% prev when a HOA was supposedly signed and an Ann made.

Just had a dig back for it and your end figures not far off exc shares issued since then, options etc. If only they can get this over the line for the 100% in some form tweaking it back to current state of affairs obviously and then from there? Big ask still I reckon but hey...stranger things have happened

Paste of capital structure if 100% from June 2015

NXR Price at posting: 2.0¢ Sentiment: None Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Week 48 Wrap: ASX flirts with 8,500pts; APRA declines mortgage loan easing; Trump's Bessent tied to Dem donor

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

There are more pages in this discussion • 1 more message in this thread...

First 7 Last

Add NXR (ASX) to my watchlist

@Bluey Nice mate. Hadn't had chance to try work through prop...

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Week 48 Wrap: ASX flirts with 8,500pts; APRA declines mortgage loan easing; Trump's Bessent tied to Dem donor

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game