We saved ourselves an extra 30 million shares coming on to the registry at the time. And CXY got 6 cents instead of 5 cents for the 70 million shares that were placed. So another way of looking at it is that Len is now getting 8.25 cents per share for the 30 million oppies that never got exercised or placed. So as far as Len is concerned he is now issuing an extra 70 million new shares in order to get the funding CXY needs in order to take it to the next step to becoming a significant player in UCG.
The numbers above refer to there being a placement for 100 million shares which is what it is as far as I am aware.
CXY Price at posting:
9.6¢ Sentiment: Buy Disclosure: Held
