yes fair call i was refering to the issue of a total of 1.2 Billion shares, ok well the CR component of 666,666,667 are to be issued at 0.003 and the rest being for the vendor ( i imagine at 0.003 given its the same timing so puts a value of $2m to the vendor on the farm in? ) correct me if wrong?
"So essentially the company paid the corporate advisor $120,000 plus on paper $750,000 so nearly 1 mill to raise 2 million?"
If you are correct and the total fees are $890,000 to raise a total of $2million, then yes i agree that seems excessive and i would have thought it would be better to put out a letter to shareholders offering these 666,666,667 0.003 shares to the LT holders who saw their shares drop to 0.006 on the date of the TH ?
But i do understand that issuing 666,666,667 shares may present a challenge given it is such a large number , however, that would only be a 1 for 2 issue to existing holders?
Anyway was thinking out loud. GL all and management and have a great weekend !
LNR Price at posting:
1.1¢ Sentiment: Hold Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)