RE:Get your facts straight, Joseph K. We are currently 150 milldrunk@noon wrote: fully dilluted. And with the BS piggyback half warrants we are talking another 20 million.
Warrants and options count, GOT IT! And these half warrants are what you get with bush league operations. Why? Because the purpose of the cap raise is to raise capital, and how much money do these warrants bring in the door when you need it? Nothing. Nadda. And getting a few bucks down the road at a fraction of alleged intrinsic NAV per share doesn't help anybody. Look at Argaunaut Gold. Just raised 40 million and guess what. No piggy back warrants.
I never said fully diluted. The number I used was from the stockwatch news release where they stated shares issued =
120,042,584 I know this isn't fully diluted. What half warrants are you talking about? The lucky dogs who will be buying this offering are getting a full warrant in each 'unit'. After this offering closes, I guess we are looking at an extra 26.666M more. 13.333 million shares issued and 13.333 million warrants.
Quite frankly, I'm a little shocked that the volume is so low so far today. Maybe we are getting lucky and someone like Ross Beaty is picking it all up, instead of some scummy financier who would be more than happy to hold it at .76, selling constantly, until they've moved the 13.333 million that they know they are also buying back at .75 with a major bonus of a full warrant.
Please Ross, pick it all up. If someone like Ross, a guy who isn't know to roll shares at cost just to pick up the free warrant, gets a large chunk of this deal, then I wouldn't worry about the warrants being converted and dumped in 4 months. I think a guy like Ross would be in it for the long haul.
You could still worry about Cartesian and what they do with the rest of their uber cheap paper, but I wouldn't worry about Ross Beaty at all.
Also, righand2, you didn't answer the question. Who was hyping it when it ran to $2.20 in August?
- Just my opinion, do you own DD.