RE:Investors Beware - This Whole Situation SmellsI agree with you. But it's worse for the number of shares.
$13,124,421.69 USD -> 17,125,401.64 CAD
add 12% interests -> 19,180,449.83 CAD
divide by 0.055 -> 348,735,451 new shares.
And next year if they manage to raise the share price to .15, it will be almost 100M market cap. At this price, emitting new shares to finance only a part of the project could add a billion shares. We're talking about more than 75% dilution in the next year and I'm being optimistic.
What a bunch of frucking crooks! <- This is just my opinion. I'm not insinuating that anyone acted criminally. I seek same harbor.