Thanks for sharing this - interesting that it came out in the media before being announced on the ASX.
Here's the breakdown I worked out based on a cap raising of $5,000,000 @ $0.13 mentioned in the article .
MRP >>
Share Price before Capital Raise = $0.17
Total outstanding shares before Capital Raise = 317,170,000
Market Cap = 317,170,000 x $0.17 = $53,918,900 <--- This should remain the same before and after capital raise
New shares being introduced via Capital Raise = $5,000,000 / $0.13 = 38,461,538
Total outstanding shares after Capital Raise = 317,170,000 + 38,461,538 = 355,631,538
Total Dilution = 1 - (317,170,000 / 355,631,538) = 10.81%
Theoretical Share Price after Capital Raise = $0.17 x (1 - 10.81%) = $0.152
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