A question was asked at CEO.CA about the number of fully diluted shares. The leaders in the EMO thread would not or could not give specifics. Consider the following a complimentary service from a European to Canadians.
The following document on SEDAR as of May 27, 2021 is authoritative:
Condensed Interim Consolidated Financial Statements For the three and six months ended March 31, 2021 and 2020.
As of March 31, EMO had the following outstanding:
- Shares: 136,874,944
- warrants: 47,595,747*
- Options: 10,895,000
*1,019,266 warrants as of 23-May-21 at $0.10 are expected to be redeemed as of date.
Interim Total: 195,365,691
Add options issued to Consultants after March 31, 2021: 3,000,000.
Total Total fully diluted: 198,365,691, rounded up almost 200m shares FD.
From the warrants and options, Emerita Resources can expect the following capital - if fully redeemed:
- Warrants: 8.16
- Options (as of 31.3.2021): 1.92m CAD
- Options (as of 1.4.2021): 0.75m CAD
- Total: 11m CAD (rounded)
This means (bottom line):
Fully diluted, there are almost 200m shares. If all warrants/options are redeemed, 11m CAD can be expected. For this there will be 61.5m new shares. A possible conversion will therefore take place at an average price of 0.18 CAD.
For the current shareholders this means a substantial dilution.
urai58