BOT 0.00% 32.0¢ botanix pharmaceuticals ltd

aaragon, firstly, yes, BNE is doing nicely right now, and that's...

  1. asf
    9,887 Posts.
    aaragon, firstly, yes, BNE is doing nicely right now, and that's good to see. Secondly, though, Proxima converted debt into equity, so didn't purchase more shares- the shares were allocated to them by BNE, as were a bunch more shares to other creditors. This is good, though- to have less debt, and for the creditors to have faith that the company is not going to go broke, by taking on those shares. They were allocated @ .003c per share, so hopefully, the creditors are getting some money back today with the .003 buys. Some dilution, but BNE "only" has 671m shares, which is less than some shares of its ilk, many of whom have a billion shares or so.

    BNE looking healthier now than it has for a while.
 
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