Hi @Dabble010, looking at the entitlement update announced today....fully subscribed for 1,720,916,438 (One billion, seven hundred & twenty million, nine-hundred & sixteen thousand, four hundred & thirty eight....shares).
Sub-underwriters are collectively the proud owners of a 1,321,013,405 share behemoth.
1.721 billion (new shares) + approx 1.285 billion (existing shares) = approx. 3 billion shares (...a very big number).
It might take some decent production news to move the SP to $0.027 (MC = $80m)...or a fortuitous & nicely co-ordinated pump...or maybe both at the same time aiming for $0.03 to convert options (there's lots of those & the additional cash would be helpful).
The upside is: BLK will probably have the funds to pay MACA & Lind ($7.5m & $2.5m) & avoid sinking even deeper into default territory...& that's definitely something shareholders can cheer about IMO...
BLK Price at posting:
1.5¢ Sentiment: Sell Disclosure: Not Held
