Banxa Holdings Inc V.BNXA

Corrections

[BCdude]

If the entire over-allotment is exercised, fully diluted float will be approximately 46.3 million shares -- including 1.9 million $8.50 warrants which wouldn't be exercised until the share price is much higher than it is today.

As well, I notice Fundamental Research updated their research report (one day before the PP) and came out with a fair value of $15.58 per share.

The company is cashed up, and it will still have a tight float. Lots of room to run here folks.

[AverageJoe]

Agreed, AND if voyageur is your comparable with the higher float we would still need to above the $20/share mark to have a comparable market cap. 

[BCdude]

Actually, for BNXA to hit the same market cap as VYGR it would have to trade at $83.33. And that INCLUDES the new shares (but not warrants) issued in the recent PP. And yes, if you look at VYGR's options and warrants catalogue it is scary. It's one of the reasons I sold my position. Bought at $0.30 and sold on the double at $0.60. Sigh. Not going to make the same mistake with BNXA.

[cryptoangel]

It's hard to fault BNXA. On so many levels from business growth to capital structure and now even cash at bank it is superior to so many listed contempories.  Add time + volume and $83/share could be very much a reality. 

[Urbani]

BNXA makes the same revenues as VYGR.... So why add time + volume and get $83/share? BNXA has more Regultory pars to it and in many more Countires then VYGR... Any way you look at it... BNXA is a better company.... The capital share structure speaks volumes and some posters have gone to depths on that like I have never seen posted before .... So buckle up... BNXA has a fast ride to go along

[Vancity1]

BC I've got a total fully diluted assuming all warrants will be exercised of 45,585,000 shares. That's with 40710000 + 3,250,000 + 1,625,000 full share warrants. 

[Erazzarmus]

There are also debentures, which would not show up as shares until converted as well as listing and debenture broker warrants. 492,941 shares for converted debentures 492,941 warrants, (attached to debentures) 79,948 listing agent warrants and 41,712 debenture agent warrants. Total 1,107,542 if fully converted... and then there are the director options which I don't believe are included in the

[Urbani]

Guys... as an FYI ... I use the stock count on Stockwatch usually when I compare... If you start breaking things down like that ... then you have to break everything down for comparisions as well... VYGR... lord you do NOT want to look into how many warrants and options etc they have over the count that is showing ... it is probably more shares than BNXA has on the float ! Anyways, it is all

[BCdude]

Thanks. I didn't think to look at the Q4 financials for options and warrants, as the company was not publicly listed until January. I couldn't see the convertible debenture at a quick glance, but I could have missed it. I get ~45 million shares fully diluted BEFORE the financing. As for the PP, I calculaed it this way: 15 million divided by $4/share = 3,750,000 shares Multiply by 1.15