re: Ann: NEWSAT PROGRESSES JABIRU SATELLITE P...
Raised by selling almost another billion shares? At .7c like AB said he obviously wouldn't do. He said he would "rapidly grow" the share price before any floating of more shares. Liar again.
Diluting present shareholders stake by another 13% or so.
More debt with new loans to the tune of $6million.
And that's just to pay for the orbital slots "acquired" in February. Someone asked back then what the cost was but AB was deafeningly silent on that matter.
Only about another $394 million to raise. Gee, it's going well. At this rate he only needs to sell 14 BILLION more shares to raise the $100 he reckons he needs to get the financing.
Lets see, that's 8.5 billion currently issued shares plus another 1 billion this time plus another 14 billion makes 23.5 billion shares. That would make them worth about 0.2c each and holding $300 million in debt.
"UP Up and away" indeed.
NWT Price at posting:
40.0¢ Sentiment: None Disclosure: Held
