Ann: Pilot Energy Raises $720,000 at 0.3 Cents Per Share, page-5

Shares on issue will increase. Up 240mill to approx. 3,180mill.
But on the balance sheet, shareholders equity will also increase by $720,000.
Given that the funds are proposed for future exploration costs and working capital, they will surely add value to the existing permits providing positive results are gained.
If execution price was .2 cents the response may be flat. But given a 67% premium on current price and that it will see PGY with over $2 mil in cash with no debt, the position will only strengthen it's future plans and not sell itself out to farm ins for cashflow needs.
Interesting to note that PGY board still has 10% share issue or nearly 300 mil shares up its sleeve to raise. This was a resolution passed at AGM on 28th Feb 2017. So when the time is right, and forward planning costs are needed there will be more funds available pending another successful placement. No doubt a share consolidation could be on the cards then which should see the SP enter price ranges that are more stable.
How does everyone else see the Ann?