RE:RE:RE:Closing of $10M Financingahh, ok.. when you say it like that makes sense, appreciate the response. do the units just allow you to purchase the warrants? or do you get warrants and 8% on your "debt". sorry for the spoon feeding lol
MrAnswers wrote: Its pretty self explanatory. They issued $10mil of debt at an 8% interest rate and for each $1000 of debt a person "bought" they also received 40 warrants with each warrant allowing the holder to buy a share at $7.50 within the next year; so even if the shares are trading at $10.00 they can still buy the shares at $7.50...so another 400,000 share dilution. In all honesty this is better than the massive shareholder dilution of last November when they issued an $8mil private placement when the shares were $2 (adjusted for share consolidation).