another milestone, page-20

As far as I'm concerned, Unilife is desperately trying to polish a turd.

No significant contracts, hardly any income, massive cash burn, share price decimation etc.

And DILUTION!!!!!

What will UNIS do overnight on the NAS?

Will the SP drop to the level of the true diluted SP?

From the prospectus supplement:


DILUTION
If you invest in our common stock in this offering, your ownership interest will be diluted to the extent of the
difference between the public offering price per share and our pro forma net tangible book value per share after
this offering. We calculate net tangible book value per share by dividing our net tangible book value, which is
tangible assets less total liabilities, by the number of outstanding shares of our common stock.
After giving effect to the sale of shares of our common stock in the aggregate amount of $45.0 million in this
offering at an assumed offering price of $3.12 per share, which was the last reported sale of our common stock
on the NASDAQ Global Market on September 28, 2012, and after deducting estimated offering commissions and
expenses payable by us, our net tangible book value as of June 30, 2012 would have been approximately $74.5
million, or $0.83 per share of common stock. This represents an immediate increase in pro forma net tangible
book value of $0.42 per share to existing stockholders and an immediate dilution of $2.29 per share to new
investors purchasing our common stock in this offering. The following table illustrates the per share dilution:
Assumed offering price per share . . . . . . . . . . . . . . . . . . . . . . . . . $3.12
Net tangible book value per share as of June 30, 2012 . . . . . . . . . $0.41
Increase in net tangible book value per share after this
offering . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $0.42
Pro forma net tangible book value per share as of June 30, 2012,
after giving effect to this offering . . . . . . . . . . . . . . . . . . . . . . . $0.83
Dilution per share to new investors in this offering . . . . . . . . . . . $2.29


Hmmmm......



dino :-/