THESE ARE THE RELEVANT NUMBERS:Shares on Issue 340 millionMax....

THESE ARE THE RELEVANT NUMBERS:

Shares on Issue 340 million
Max. CR $ 1.7 mill (15% of issued capital as per warranty condition unless the company wants to give a $ 5mill bonus to PURE !!)
Max. shares to be issued 50 million
As at Dec 2020, there were 412 s/holders holding over 100k shares & 569 s/h holding 10k-100k.
Assuming s/h entitlement will be $5k approx 147,000 shares

If HC posters are correct (Everblu $250k) & assuming the Directors take an additional $ 100k of stock, these are some of the scenarios:

TOTAL amount raised $1.0 mill $ 1.25 mill $ 1.5 mill $ 1.7 mill
from S/H $650k $ 900k $ 1.15m $ 1.35m
# of s/h (@ $5k) 130 180 230 270

Even if company allow oversubscription above $5k, I would think that there would be sufficient subscribers that would preclude anyone getting more than $ 5k.

BASED ON ABOVE, I do not see much downward pressure on the share price.
How many people would sell 147k shares below 4 cents to pay for their replacement stock ?
GOOD PROFIT - at 4c/$882, at 3.8c/$588.
DON"T forget the 1/4 option !!