oz
Here's what happened with the SI (Sophisticated Investors) behind closed doors.
ERJ raised $301,511 at 1 cent per share and diluted the stock by another 30 mil shares
They also gave out options exercised at 3 cents which will add another $861,767.00 to the coffers and dilute the stock by another 28+ Mil
The upside, if you are an optimist is that the CR was done at current levels and if they get their options the share price has to triple.
Done and dusted, there should be no need to worry about the need for cash at this point. Next milestone is powering up the power box and taking the orders on the books.
Ann: Appendix 3B , page-3
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