So they want to raise $2M, doubling the number of shares to 20B, thereby diluting the company MC by 50%, which would put the current value to $4M, not $9M. But hey, at least something is happening on that front!
Then they want to cut the shares 10:1 to come down from 20B to 2B shares on issue.
All in all this could be a way forward!
Ann: Proposed Takeover Bid and Capital Raising, page-8
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