I haven’t run the numbers properly on the alternative scenarios as I’m working off my mobile but (back of the envelope) the May 20 raising was done at $0.006 so if they added this CR’s $1.6m we would’ve had an extra 180m shares added to the register (~265m vs $1.6m/ $0.019 = ~85m) plus a tonne more options.
I used to work in funds management (in this space) and a CR fees typically ranges from 4-6% and can include both cash and scrip (options). It’s just the way of life in the small end of town. The options still need to be paid for (converted) and bring $ into the company’s coffers. This wouldn’t change materially IMO if they did all the raisings in one go because the fees are based on funds raised. Ie it’s a zero sum game.
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