General discussion, page-7591

Regarding the NASDAQ Listing & IPO

The company has plans to raise US$25,000,000 in funds via it's upcoming NASDAQ IPOso, according to a current SP circa $A.40c (US$0.29)

then that would require the sale on IPO day of 86,206,896 ASX Shares via the IPO ( =US$25,000,000 / US$0.29c)
For this post lets talk shares not ADS ( ie 1 ASX Share each 50 ADS's)

This scenario is also based on this condition being met...
"SP will be not less than 80% of the volume weighted average price for Shares traded on ASXcalculated over the 5 days on which sales in the Shares are recorded before the date on which the issue is made."

Now, If the company is successful in it's resolution at the shareholders meeting to have an extra 180,000,000 shares issued for the IPO and then if the current share price is assumed as the IPO price and the BOD decided to utilise it's full allocation because of pent-up demand from investors the

180M ASX shares issued could raise.... US$52.2 M in capital (180,000,000 x US$.029)

instead of the intended US$25M.

As we get closer to the IPO day and assuming the SP increases between now and thenfor every US$0.01c increase,
the Capital raised will increase by US$1.8M based on issuing 180M shares.

Just as a matter of interest the ADS price would be 50 times x .29c US$14.50 approx at the moment

BANK BALANCE Q4 ?

Potentially add $40M plus via (30 Sept converted oppies), looks like we could have an additional circa A$71.5M from the IPO,

that's A$111.5M to add to the current bank balance of say $8M .....Approx $120M total

to advance the trials, employ people etc or

maybe as well we could afford to add another Psychedelics Trial or two to the development program? (1 extra already in the pipeline)


Good luck all, looks promising today the march to IPO day continues.