RE: RE: status profits versus sharesTORTOISE101
Bridge now has a total of 131,648,042 Common Shares outstanding, warrants to acquire 69,726,706 Common Shares at an average price of approximately $1.05 per Common Share and options to acquire 8,350,500 Common Shares outstanding at an average price of approximately $0.86 per Common Share. The Corporation has in place a 10% rolling
stock option plan and is therefore eligible to grant a total of 13,164,804 options leaving a total of 4,814,304 options unallocated under the plan.
MM LEARNING FROM TORTOISE 101
131,648,042 @
69,726,706 @ $1.05 = about $70,000,000.00
8,350,500 @ $0.86 = about $ 8,000,000.00
13,164,804 @ $1.00 = about $13,000,000.00
Total = about 223,000,000 fully diluted if they get to exercise everything,
and it would add about $91,000,000.00 to the kiddy right,
however the bulk of it will not get exercised at all if the price does
not move above 80 cents (3 bagger), but yet the profits/share for
the issued shares of 131,648,042
would be about $105,000,000/ 131648042 = 80 cents per share cash
flow minus the operating costs right
If the debt is about $64,000,000.00 and the cash on hand is around
$32,000,000.00, then it looks pretty good going forward especially if they
get the cash flow up to pay the next drilling adventure, which we hope
yields the same as Durango
MM