is the math right?How many shares is the company going to issue to make this happen?
"A pre-condition to closing the Share Exchange is a requirement that theCorporation raise financing of at least US$30 million (the"Financing")." At current share price this means an issuance of 1 billion new shares? (30 million $ at 0.03/share)
"The purchase consideration for the stock of Advastor will be payable incommon shares of the Corporation at a price that will be equivalent toPetroKamchatka's net book value per share of approximately US
.029" "The final purchase consideration and number of shares to be issuedpursuant to the Share Exchange will be based on an independentthird-party resource assessment, which is presently being conducted byDeGolyer & MacNaughton.... Preliminarily, the Corporationanticipates that it will acquire the shares at an enterprise valueequivalent to approximately US
.30 per barrel of net risked resources"
If we assume 100 million barrels risked resources, the price is $ 30 million - ie another 1 billion shares.
Add on the 500 million outstanding and we have a grand total of 2.5 billion shares outstanding, pre-rollback
So it seems we are looking at an effective roll lback of 500 to 1 to get us back to a reasonable 25 million shares outstanding?
Is the math right?