Assuming that NMS is forced to carry out a cr; but at what price? Last cr was at 50c ps; this potential cr may be much lower, perhaps at 20-30c ps because of the prevailing sp. I'm beginning to get that CTO-type deja-vu feeling yet again.
In its potential cr, I suspect NMS would not be raising just $15M. Let's assume that it goes for $30M to secure a good buffer and at a sp of 30c. That means another 100M shares to be issued, bringing the total shares in circulation to approx. 545M. The dilutory effect would be quite significant.
The only silver lining in this dark cloud is for the cr to be in the form of a rights issue so that loyal shareholders do not get penalised for keeping the faith. But I doubt that would happen, considering CL's alleged disregard for shareholders updates.
Assuming that NMS is forced to carry out a cr; but at what...
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