Freehold, I doubt those 32m options will be exercised as the price is $1.50 and $0.50. If they are included in the calc the $21.5m cash received would add to the MC.
Also, the 18.9m shares not issued are not shares, they are 4.7m unlisted options ($1m) and 14.2m con notes. Rough calc using current 85% 10 day vwap (1.5c) would convert to roughly 84.3m shares and result in that debt being eliminated ($1.3m).
The numbers will probably move around a bit until additional info can be given and the 67:1 ratio imo is likely to change. I had a look at MYA and there final consolidation ratio was different to the original 20:1 as was the issue price of CR.
Qtly will confirm cash and Oil revenue shortly and if that revenue will cover admin fees going forward so people can then objectively calc a value on the as is basis and then there is the 2 proposed acquisitions to consider.
Whether we hold or not it will be interesting to see how things pan out and thanks for putting your numbers up which was helpful.
Cheers
OGI Price at posting:
1.2¢ Sentiment: None Disclosure: Not Held
