RE:.11 cents? Am I seeing this right?I must admit I was pretty pissed this morning when I read the release and seemed like management was giving themselve an easy in ( which probably is the case) and later this morning when I had a few minutes of free time at work I did some quick math.
Quick roundish numbers.
Old shares utstanding and warrants outstanding. = 303M
proposed additional shares and warrants = just shy of 14M
Shareholders are being diluted by about 4.5% assuming the warrants are exercised at some point.
The average of the shares and warrants is 13 cents, a bit shy of yesterdays close of 14 cents.
The stock dropped close to 20% this morning on news of a 4.5% dilution.
Company still has a ton of equity in both nexgen and toro and is very undervalued at this morning's price. Seemed like an easy buy this morning. Doubled my position.