Time to face the reality of the situation.
The past is the past . Lets look to the future. OR come up with a way to improve on the NEN/MEO Merger.
I for one have no better forward vision than the planned merger.
By end Feb MEO will have cash of around $9 million.
By end Feb NEN will have cash of around $23 million.
Total merged entity cash will be around $32 million.
Total shares on issue to the merged entity NEN will be around 1106 million shares.
If I can calculate correctly, that equates to around 2.9cps for the merged entity.
NOTE that we are only talking about the cash backing of the merged entity.
From where MEO sits now NOT THE PAST, the assets and reserves of the MEO holdings alone,
offer many ,many, times the cash backing of the present share price projection after the merger.
I see the merged entity share price @ around 10cents at least by the end of 2015
We will have a new Board and a clean sheet. What more ??
The merger cash increase to the MEO operations is around $7million.
If that amount was to be raised by an issue at present we are looking at 437.5 million shares @ 1.6cps.
That is the real price if we are to raise $7million.. NOT ON.
The total shares then on issue would be 1188 million shares. A No Brainer I think.
The merged entity will have 1106 million shares. and the access to $32million compared to MEO after a ridiculous raising will have 1188million share and access to $16million.
NEN and MEO share holders have the choice.
NEN to vote out Evo World and MEO to vote for the merger.
Its your choice. My choice is to vote for the merger. I only hold MEO shares.
Cheers IFINO
NEN Price at posting:
3.6¢ Sentiment: None Disclosure: Not Held
MEO Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
