RE:RE:RE:sp moving up instead of down..At this point it is not clear if the Rights Offering will be available to new shareholders after the conversion. If so, the 5B shares at $0.015 could be exercised by the holders of 20B new shares, that's 1/4 share per 1 share currently owned if they all bought in!
I asked Fred, he is looking into this and will get back to me with a "final and verified" answer.
From the PR
a rights offering to all shareholders of Prometic whereby each shareholder will receive one right for each Common Share held, with each right entitling theholder thereof to subscribe for 20 Common Shares at a price per share equal to the Transaction Price (i.e. a per share price of $0.01521), for aggregateproceeds to Prometic of up to $75 million, which will commence following the closing of the above-mentioned transactions (the "Rights Offering" andcollectively with the Private Placeme t, Debt Conversion and the Warrant Repricing, the "Refinancing Transactions").
Newcamo wrote: u dont get it... the rights compensate somewhat for dilution (u will get new shares amount to be somewhere between 7x-20x amount u own now), and those shares u will pay 0,015$...so yes u can compensate big time your losses....and fast in view of how it trades and news coming.
People should understand this, stop b.s. talk about class action, lawyers that will not reward you as much and as fast as these rights...