So 273.25M shares currently in issue
http://www.asx.com.au/asxpdf/20160323/pdf/4361jc1w9p0zms.pdf
With another 181.76M escrowed for 12 months, another 77M escrowed for 24 months & near enough 60M options @ 7 cents with a June 2019 date (all unlisted & most escrowed for 12 or 24 months).
So diluted shares in issue will eventually total 532M in 2 years time, plus the 60M 7 cent options.
The vendor's of IOT got 256.64M @ a deemed price of 2.8 cents per share, & were able to do there own placing of just over 21M shares @ 2.8 cents, raising A$0.59M (not sure if that money went to AWO or the IOT vendors)
The Share placement (156.25M) & Public offer (15.3M) were priced at 3.2 cents & raised just short of A$5.5M
The old AWO shareholders own 80.63M shares in the new company, so they own 29.5% of the shares in issue right now, which then drops to 23% in 12 months time & to just 15.1% in 2 years time. Worth noting 16.25M of those shares (post consolidation) were issued in December 2015 for 3.2 cents effectively.
The company should have over A$6.5M in cash, exactly how much over that will depend on how much the re-listing cost etc. We'll find out in the next quarterly report at the end of April.
However anyone buying shares for under 2.8 cents, is doing far better than at least 75% of the new shareholder base.
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From the prospectus
There are additional "Earnout shares" to all of the above.
55.55M shares should the company make a NPAT of over A$1M by 30th June 2016.
69.2M shares should the company obtain A$5M in revenue by 30th June 2016.
111.11M shares should the company make a NPAT of over A$1.5M by 30th June 2017.
So looks like the company must be profitable currently otherwise those first set of Earnout shares aren't going to be issued.
LOTM
