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0.5¢ elmore ltd

USD $2.5mil = ~AUD $3.5mil which brings 0.022c up to 0.032c or...

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Waldo777

896 Posts.

142

30/12/16

11:07

Post #: 21605693
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Originally posted by cloudwalker ↑

This does not make any sense to me?

They say the conversion price is .038c

But for $2.5mil they issued 90,672,814 shares.

$2,500,000 ÷ 90,672,814 = 0.02757c ........so, issue price well under the .038c stated

But! They also paid $500,000 to have the shares converted at "0.038c"...what!
So effectively....

$2,000,000 ÷ 90,672,814 = 0.022c conversion price

Is this just another typical case of super dodgy ASX specie practice?
Hoping on the dumbness of shareholders to BS their way through?

Sentiment: trade

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USD $2.5mil = ~AUD $3.5mil which brings 0.022c up to 0.032c or thereabouts (factoring in the AUD 500k).

Not too sure how they got to 0.038c though unless there was capitalised interest.

Last edited by Waldo777: 30/12/16

NSL Price at posting: 3.7¢ Sentiment: Buy Disclosure: Held
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