GREY:PTQMF - Post by User
Post by
DetVicMackeyon Dec 22, 2010 2:14pm
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Post# 17883795
Just Another Shakeout
Just Another ShakeoutIt's the holiday season so there isn't much volume in the markets which makes it easier for the big boys to squeeze the amateurs out on their sell/buy stop orders. The new PP offering is more or less the same as the old one but the weak retail shareholder/trader doesn't understand that. I think this is still a great risk reward buy opportunity because the SP will most likely hold above $1.00 to get the
.65 warrants callable on Jan 11th.
The first offer was for 31.5M common shares @ $1.00 and 31.5M warrants @ $1.45 which has the finders fees included, but all this needed to be voted on for approval. The new offer is for 16.8M common shares @ $1.00 and 16.8M warrants @ $1.45 which has the finders fees included and represents 24.9% of the total outstanding shares. This tranch of the new offering can be closed without voting approval. The subscription receipts would carry an additional 16.8M common shares @ $1.00 and 16.8M warrants @ $1.45 which has the finders fees included, but this needs to be voted on for approval since it would bring the new offering over 25%.
There are 134,901,951 common shares outstanding. The old PP was for 63M shares fully diluted. The new PP is for 67.2M shares fully diluted. An additional 4.2M shares represents only 3.1% more dilution.
House positions anyone?