So this is my prediction?
"Vincerli
The huge dilution will be even bigger. The consolidation still to come.
Around 2.6b share dilution is my guess given the assets lost."
This is not a prediction. This is what IGS say is going to happen!!!!
subject to the satisfaction (or waiver) of the Conditions Precedent, the consideration for the acquisition of an 85% interest in the issued capital of Winter Garden (Jardin De Invierno SA) shall be the issue of 1,500,000,000 fully paid ordinary shares in the capital of IGS (Consideration Shares) at a deemed pre-consolidation issue price of $0.005 per Share.
I can not see .005c now.
At all times the Consideration Shares will represent a minimum of 50% of the total enlarged capital structure of the Purchaser post Completion and will be adjusted accordingly
IGS raising a minimum of $1,000,000 (or such other amount as required to meet the assets test and re-admission criteria of the ASX), through the issue of IGS Shares at a price to be determined by IGS and Winter Garden (Capital Raising), with a minimum net proceeds to IGS of $1,000,000 at closing incorporating the Capital Raising and / or the sale of some of the other assets of the Company (e.g. 9.2m Sante Fe Gold Inc. Shares (OTC:SFEG), USD4m loan owing from Sante Fe);
At all times the Consideration Shares will represent a minimum of 50% of the total enlarged capital structure of the Purchaser post Completion and will be adjusted accordingly
So if you use the last rising. ( Again I can not see this being met)
that's 400,000,000 more shares.
Now add the $1.2m in debt that they have more than assets. Again using .0025c
480,000,000
2,380,000,000 More shares.
THEN!
IGS conducting a share consolidation in accordance with the Corporations Act 2001 (Cth) (Corporations Act) at a ratio the Parties consider reasonably necessary to allow the IGS to successfully complete the Capital Raising and ASX Re-Admission criteria(Consolidation);
What i have "predicted" as according to this company's own ASX announcements!
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