RE:Here ya goThanks for the very useful breakdown Snap, well done.
Question, when the issue comes onto the market we will be able to buy the warrants I understand. What price do you expect the warrant will trade at initially?
Observation, I understand that the company only gets the US$12.98 when one exercises your warrant. So assuming as you say that holders only exercise their warrants at the end of the 3 year warrant window period the company will then receive the $19m (70,000 X21X US$12.98) at the end of the 3 year period. I don't therefore understand why you make the interest calculation on $707.42 at 9.75%. The timing seems to me to be out and the interest for the first 3 years should be calculated on the $980. Once the company has the $19m then fair enough the last 2 years the charge is correct. Where have I gone wrong?
Thanks.