Your scenario and calculations seem very plausible kaiseriqbal. However I think the renounceable rights trading will be quite popular considering the free options attached and could attract a higher price, thus changing the calculations a tad. Lets say it traded at .05 X 22,000 = 1100, changing your rights to $1100 + (22,000 new shares @ 10c) $2,200 for new shares = $3300. Giving you 42,000 shares at 15.4cents. So I guess it really depends on the rights trading price. Plenty of scenarios to go through.
CTP Price at posting:
13.8¢ Sentiment: Buy Disclosure: Held
