share consolidation, page-25

"If the 5 well comes in good the price should go up to around 0.5 - 0.8 - then wait and see what happens with a consolidation - but agree it has to come at some point"

A license to ramp, yes but where are your figures supporting such a rise?

Currently there are 3,751,440,801 fully paids
Add on when these Conv. notes left convert to shares at a discount to market, plus most of these also have an 11% interest payable by GGP

Conv. Notes left
S1 12m
S2 14.88m
S3 26.6m
1 Conv. security of $550k
PLUS an Equity finance facility which totaled approx $7m


now let's be generous here with the conversion of these into the fully paids

If conversions are at 0.004 it will add onto the 3.751 billion shares the following numbers:
S1 150m
S2 186m
S3 332m
Conv. security 137m

adding in these conversions at the above rate would bring the register up to
4.556 billion

Note this is not allowing for the additional equity draw down of between $100k to $300k per month over 24 months and this amount is payable back to Lind by the issuing of additional shares to them at a discount to a 3 day VWAP

Whatever number this would add-on is open to speculation as there is a once only clause where the calc. is at a premium to a 20 day VWAP.... however Tranche 1 of this draw down was at 0.002,

The downside to this equity draw down is if once the shares are issued at a discount to market sp they are sold at market putting further pressure on the sp


BTW There is concern by a few number crunchers that the equity draw down on its own could result in around a further 2 to 3 billion plus shares being added,
now this number can vary wildly as it all depends on the sp at the time of the draw down, it could be half or double that.

I can see how some have formed the opinion that as registers grow in size but not in value there is usually only one course of action left to take which is a consolidation of the registry as it then opens the door for the raising of further capital at a discount to market.

Pretty hard to offer a discount when GGP sp is 0.003 /0.002 or in VIL's case 0.001/0.0007, or GGE at 0.002/0.001
So it's easy to form the see why VIL with 3.3 billion is doing a 50:1 consolidation, and GGE with 3.7 billion a 5:1


My opinion is with a registry of 3.8 billion and still growing it's not
- will there be , it's by how much ? -
I'm guessing between the other two, so anywhere from a 5:1 to a 50:1.


Would love to hear from those ramping this if you disagree with my numbers, so do us all a favor and check them and let us all know as a I am human and not a BOT so I can make mistakes and I quite often do.



Position: Sold out the majority a while back, just hanging onto a few for the fun
Sentiment: None