'every 5.715 Shares be consolidated into 1 Share' ,
Basically at the current 5.4c you are paying 31c for shares everyone else is getting for 20c , plenty of profit takers expected imo.
47.1M new shares will be issued at 20c , thats an instant profit of $5.2m at 31c
All up post consolidation around 168m shares , 12m options (mostly i believe exercise at 20c) , 25M performance rights.
Fully diluted value at 31c , $63.5m
"General working capital and administrative and ongoing costs including salaries $3,500,000 "
Not sure what the line of credit is all about
"Digital CC Holdings Pty Ltd will permit Digital CC Management Pty Ltd to borrow up to $10,000,000 by way of line of credit with same to be repaid on the expiration of 36 months or such later date as agreed between the parties.
There is no interest payable on this line of credit, the parties being members of the same company group."
Hacking of digital wallets - another hazard of holding bitcoins.
"The second scenario, hacking a Wallet, is possible. Since bitcoins in a Wallet can be used by anyone who has the private key for that Wallet, it is possible for a hacker to hack into your Wallet using your Wallet’s private key and steal your bitcoins. Given this is a possibility, many Bitcoin users operate multiple wallets so as to minimise their loss in the event that one of their Wallets is hacked. However keeping multiple Wallets increases the risk of losing the private key that is unique to each wallet"
MEJ Price at posting:
5.2¢ Sentiment: None Disclosure: Not Held
