Holy Sh!t !!! Financing could add 123 million new shares$15 million at .35 cents is 43 million shares
1.425 warrants per share could ad a further 61 million shares for a total of 104 million shar
The underwriter can acquire a further 15% or 15 nmillioin shares for a grand total of 119.5 million shres added through this financing.
Add that to the current 163 mllion shares issued brings us to 283 nmillion shares totlal once warrants are converted.
As well S7 will pay 7% interest on the $15 million worth of shares plus the 15% overallocation for an annual interest payment of $1.21 million a yeor $400,000 in quarterly interest for possibly three years. That boosts expenses by 10%.
Someeone please tell me i'm wrong. Other wise this is obscene! No wonder we havne't had a positive reaction to the news. I dread what the analysts are going to conclude from this.