In my opinion that announcement was bad, at least for the...

In my opinion that announcement was bad, at least for the shareprice. Reading into the announcement we have the following:

1 for 4, on a billion shares that's 25%.

Notes, 1.5mill of them @$1 with each carrying the weight of 100 shares ie 1c per share, 1.5mill times 100 = 150mill shares, or on 1bill shares is 15%.

Total dilution is 40%, which is a massive dilution by my books in return for $3mill to the company.

I cant see regardless of any positive announcements, the shareprice being able to wear this increase in shares. There will be some decent overhang, maybe some short-term strength until the record date is announced, and then back towards 1c. Might be a good pickup again closer to there.

Such a shame too as the shareprice was moving nicely.

Cheers