Ann: Trading Halt , page-23

"1 million 1 new for 22 held
2 million 1 for 11.26
3 million 1 for 7.5
4 million 1 for 5.6
5 million 1 for 4.5 "

CB ...... I think I take your point. Trying tocalculate with such large figures when also thinking about other things can be disastrous.

I think someone much earlier ( a few days ago) made some comment about the "non-existent" rights issue and that it would have raised about $1.5 million. I think I got that stuck in my head and when I decided to do a few doodling calculations myself I looked at the figures I came up with and thought they represented something just over $1.1 million.
Hmmmm The difference a zero or two on the end can make !

If I now have it correct ....if we take those 751 million shares on issue and say go with a 1 Right (new share) for every 2 existing shares then that could create approximately 375.5 million new shares. If as originally outlined the Right/new share cost 3 cent to activate then that would create an inflow of 1,126,500,000 cents.....or to convert that to dollars...... that should mean a whopping $11,265,000.

Yes now that would represent a "MATERIAL" capital raising.

Have I got that right this time CB ????
Can I move on to the next class next term Sir ?

Dear oh dear! Just didn't believe the figures. Have they shied away from trying to gather that much in as they originally had proposed ?