PSY is quite a fascinating....Currently 393.5 mil. shares on...

PSY is quite a fascinating....

Currently 393.5 mil. shares on issue + another 134.5 mil. @ 0.3 cents (95% discount to current price) shortfall being placed = 519 mil. shares on issue... PSY has a market cap. of $39 million....

They also have $250k in convertible notes due to be converted in a couple of months...Originally to be converted in 5 equal tranches of 2,2.5,3,4,6 cents...After the 2 for 1 CR = I'm assuming there is a clause in the notes they will also follow the dilution... i.e. now 0.7,.08,1,1.3,2... So divide into $250k and another 215 mil. shares @ 1.15 cents...

Total if correct 734 mil. shares = market cap. of around $55 million..


Looked at the annual report...

Couldn't pay their bills and had to defer $86k to survive plus was $270k owning in director fees...