Math 101Without Prejudice:
If there ever was a definition of a bad deal here it is folks.
I called Terranada’s office and spoke with the CFO.
The opening price if the deal goes through is proposed
to be .50 cents.
Let’s do the math....
Using a shareholders position of 160,000
Before this was halted it traded at .06 cents
With a value of 6 X 160,000 shares = $9,600
Ater the rollback of 1 new for 16 old gives the
shareholder 160,000 divided by 16 = 10,000
new Terranada shares with a value of $5,000.
And they have the audacity of saying after their
AGM that they will be working hard for shareholder
value.
I personally I am livid as I believe there is a greed factor
involved here at the rollback number of 1 for 16 !!!
There was a mere 57 million outstanding shares
with a fairly health bank account so why stick ir
to the shareholders???
M.