Some thoughts on the offering
First, if you have not listened to the conference call, or the replay, I don't think you can add much to any conversation on the offering. Jake Kalpakian is definitely not a great public speaker, but he provides information not available in the press releases.
From my perspective, it looks like the company is toast without extra capital. At least the way the offering is structured, present shareholders have an opportunity to buy more shares for cheap, and maybe the company survives. If shareholders don't take advantage of the offer, the guarantors will, so the company will definitely have the funds to continue for a while.
If you don't like the company's chances, and are a shareholder, you likely can sell on Mon Dec 12 for .03. Since the offer is for shareholders of record on Dec 15, anyone wishing to buy shares to take advantage of it must buy tomorrow (3 days settling time) Tuesday the shares are ex-offer and I'm guessing price will be down then.
Since shares will double, one might think the share price would drop from .02 to .01. However, maybe speculators (we are not investors!) will like the fact that the company now has enough capital to complete and launch the upgraded poker table, and can actually make a go of the business, and share price will increase. This is literally a penny stock, so volatility is sky-high, and I have no idea how share price will evolve!
Guarantors who are required to purchase shares over their allotted quantity will be given more warrants, so I believe it would be in the interests of shareholders of record to take advantage of the offer, as there would then be fewer additional warrants outstanding, since guarantors would not be buying as many units as they have guaranteed.
The warrants will trade on the open market. Will they be assigned any significant value? I don't know, but let's suppose there are buyers at .01. If you wanted to, you could sell the warrants, and you now have your extra shares for free.
I'm not advocating any buy-sell position here. I'm just trying to provide a bit of information and objective analysis in hopes it helps a few people to decide.