RE:RE:More CIBCThis basically validates what I was saying with the giveaway. They raised all that outside financing at a 35 cent valuation when the actual assets were worth over $2.
It was free money. Buy assets worth $2 at a 35 valuation and receive more warrants on top of that. If the financing was done at market rates the dilution to shareholders would be less than 17% instead of 50%. Proforma after shareholders exercised their warrants they would be MUCH better off and holding a large chunk of Logan.