RE: I think something is up MM33 Don't worry, the co. will contact all shareholders and offer them the same deal, so many rights for so many shares held. It might be 1:1, 1:5, 1:100. It will be whatever they need to raise the money at the reduced price. A quick calculation could be $3.5M/.20 = 17,500,000 new shares. With 76M now outstanding this will 1:4.34 My guess will be that factoring in commiss/fees etc. you will be offered the right to purchase 1 additional share for every 5 you hold at 20cents. The group mentioned in the release will pick up any shares not purchased by the existing shareholders IMHO.
If you own say 10,000 shares and don't participate your equity goes down.... 10000/94M rather than 12000/94M when now you have 10000/76M
GLTA