Let's assume by June 30 we will have ~$40m in the bank, and at current prices our MC is ~$65m. That gives an EV of $25m.
I cannot see a consolidation reducing our market cap below our cash holdings. A 1:10 puts us to 13c, falling back to 5c gives us a market cap of $25m. A stock with a market cap of $25m, profitable with oil producing wells, oil rich land reserves and $40m in cash is just not possible.
But for consolidation, think bigger. Why not 100:1. 50m SOI and a share price of $1.30. That's serious game.
A buy back will never get legs of that magnitude, and it leaves the company with little cash. 3-500m shares bought back ($5-10m tops) would be plenty. It would clean up the register and galvanise the remaining shareholders.
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Last
1.2¢ |
Change
-0.001(7.69%) |
Mkt cap ! $57.27M |
Open | High | Low | Value | Volume |
1.3¢ | 1.3¢ | 1.2¢ | $4.16K | 335.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
23 | 15481980 | 1.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.3¢ | 21978053 | 33 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
23 | 15481980 | 0.012 |
38 | 37311735 | 0.011 |
12 | 5661919 | 0.010 |
11 | 5840014 | 0.009 |
1 | 120000 | 0.008 |
Price($) | Vol. | No. |
---|---|---|
0.013 | 21031396 | 30 |
0.014 | 25809334 | 18 |
0.015 | 6815278 | 15 |
0.016 | 3189193 | 12 |
0.017 | 12126445 | 9 |
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