Re; consolidation and shares outstanding
SimplyTheFacts, thanks for an informative post and commentary. It's helpful to have quality posts on these boards, especially for ordinary shareholders.
There seem to be a number of valid considerations in deciding what to do with the share consolidation - raning from lots of liquidity on the one side to a higher raise the share price on the other, the latter to boost the share price out of the penny stock category. I like the careful but open-ended language of the press release and am guessing management already knows what is going to happen but is waiting for the right time to make the announcement.
Time will tell us all what is coming, including the other potential changes mentioned. My understanding is that the 20 to 1 ratio is a ceiling - and that management can decide any level of consolidation up to that figure, but that it will not necessarily be that great.
Meanwhile, for general information purposes, here is what I was able to find on the number of EFR shares outstanding as of just over two months ago:
Excerpt from Management’s Discussion and Analysis
Three and Nine Months Ended June 30, 2013 - Pages 8-9
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OUTSTANDING SHARE DATA
At August 14, 2013, there were 755,302,496 common shares issued and outstanding, of which 1,046,067 were acquired by the Company pursuant to the Titan Uranium Inc. acquisition and are treated as treasury stock. In addition, the Company has 55,470,336 warrants issued and outstanding to purchase a total of 55,470,336 common shares, and 39,871,500 stock options outstanding to purchase a total of 39,871,500 common shares for a total of 850,644,332 common shares on a fully-diluted basis. In addition, at August 14, 2013, there were 22,000 Debentures outstanding, convertible into a total of 73,333,333 common shares at a price of $0.30 per common share.