Encore Renaissance Resources - 'paper count'Yes, there has been a lot of paper to eat through - however you may be surprised to read the below statistics:
1) We have traded/eaten through 70,701,252 shares from September 1 to Sept 25 from.055 cents to .115 - so far.
2) We traded 12,754,657 shares in the month of August all in a range from .05 to .06
This has cleaned things up substantially (and someof that amount would be shorted 5 cent paper from the
28.99million sharepp closed on July 3 with a hold period expiring Oct 27). In my opiniontherefore, the average calculated held share price would beapproximately 14 cents taking into account all previous holdersbefore consolidations.
However, even without taking existingshareholders average share price into account (prior to 10:1 consolidation on April 14 2008), I estimate the current average share price of all issued and outstanding shares to be approximately .09 to .10 - and that'sincluding the cheap .05 paper that may still exist for exerciseon Oct 27.
It appears to me therefore, that there will be far less resistance than some may think as we move towards .15.
The coming dates for exercise of share and warrants are as follows:
Sept 22
10 million shares at .10
5 million warrants at .15
Oct 27
28.99 million shares at 5 cents (as I said above much of which I believe has already been shorted)
14.195 million warrants at .10
Oct 27
10 million shares at .10
5 million warrants at .15
Dec 27
12.5 million shares at .10
6.25 million warrants at .15
Regards,
Thov