The company raised 11 mio net.
We - shareholders - paid 657'000 AUD
The company granted them 11 mio ELSOA - let's be very conservative and assume they are worth 15 cts
I make the value of the options 1.65 mio AUD
Total cost to shareholders - 2.3 mio AUD to raise 11 mio - or expressed differently and 21% of proceeds raised.
Am I wrongly thinking that we have just been had?
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