Today Splitit has market capitalisation of $39.08 million, which at 7.2 cents implies that there are 543 million shares on issue.
The 3 tranches of Convertible Notes announced last week are for:
-$2.8 mil with a floor price of 6.5 cents (43.076 million shares) immediately -$4.2 million with a floor price of 4 cents (105 million shares) -$3 million callable by the company with a floor price of 5 cents (60 million shares)
So in 6 months or a little more, another 208 million shares could be added to the register, totalling 751 million shares. I cannot see this rising above 10 cents again.
That is what your Board has signed up for and will ask you to vote upon
SPT Price at posting:
7.2¢ Sentiment: None Disclosure: Not Held
