GREY:DULMF - Post by User
Post by
materialsgirlon Nov 02, 2014 8:07pm
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Post# 23087072
financing on Monday?
financing on Monday?Anything is possible such as winning the lottery. But the chance of financing anytime next week is very very low.
A share price has to be agreed upon. Management was probably thinking about 12 to 15 cents (this is just a guess) but now even 6 cents might not do it. 5 cents might not do it. At 5 cents you would need about 108m shares to raise $5m (net) and that amount of money is still peanuts. You would need 320 million shares to raise money to pay back the debt and have day to day liquidity. Dilution would be massive and selling hundreds of millions of shares is not doable in today's environment
DM needs to be taken over most likely by Anto.
Be prepared for the price to be slender, very slender
It is a sad story
mat