it's just the beginning for Cirralto!, page-6664

,From the ANN dated 6 December 2019 re merger benefits and Appstablishment revenue:

• revenue of ~$0.5m (ex Cirralto license and contracting fees and R&D tax incentive rebates);

IMO that's not much in consideration for 825,000,000 shares to be issued upon completion of the merger (unless someone can point me to information proving these shares have already been issued). That equates to $51,975,000 based on today's share price (and equates to almost half the market cap). How can this not have a dilutive effect?

For me, the reality with CRO is:
a) Business hasn't really kicked off yet (Yesterday's ANN confirmed this)
b) It's a long-term growth play (With significant potential upside)
c) There are a lot of shares on issue/soon to be issued
d) This year will see significant revenue increase (hopefully) but also heavy dilution
e) The product is not widely used/reviewed - jury is out on how helpful/user friendly it is

Trying to form a balanced view of this stock. Super keen to hear anyone's input.