cap raising , page-4

Thanks for posting that, shez.

I just did some calculations using a weighted average formula:

The company reports that it currently has 76 million shares out there. The last price was 1.75

The plan seems to be to offer 15 million shares at 1.28

The weighted average model tells us that the dillution will result in a price of $1.69070959 (give or take a millionth of a cent.)

I wonder if you out there feel that the 1.75 price is a fair representation of what the share is actually valued at today, or if it might be higher. A friend of mine rang the company yesterday and reported to me that a disgruntled fellow at GXY told him that a former director had decided to dump his shares, which is what brought the house down a couple of days ago.

All input welcome. I got out as it started to fall (luckily) at 2.00 and would love to come back in....but at what price?

Cheers
ST