Ann: Raya Acquires Xped Holdings Ltd, page-6

Very, very happy with this one. Project has that wow factor about it and milestone shares are clearly linked to higher mc being achieved.

I was pretty close with the CR being done at 2c, under the new re-listing rules and them raising about $3-5M.

A few more vendor shares issued than I predicted but more than happy for that to happen given the exciting project they've snagged.

As a guide (and I need to do much more research on the company) look to FRY for indicative mc. FRY's diluted mc is around $30M last time i did the sums.

RYG snapshot upon re-listing and assuming $5M raised @ 2c:

1.54B fpo
$1.4M cash (current) + $5M = $6.4M
MC @ 2c = ~$30M
EV @ 2c = ~$24M

So i think my theory of price playing out similar to GAL, DUO etc i.e. around 2c should hold true here. Could shoot higher due to the project but 2c will be my guide.