net to shareholders

Elk dramatically cut the amount of shares to be issued to institutions, i can only assume the institutions wouldnt part with their money.......so ELK shareholders (suckers) will now be pressured to cough up or face dilution...

$837,000 was raised, if we take into account dilution, then the net cash benefit to current shareholders was $624,000 in exchange for 13% of assets.....values ELK assets at Aus$4.8mil (less cash).....so we flogged of a share of ELK at a price that valued all the assets at US $3.36mil..
When the latest investor report valued 1/4 of Grieve muddy chemical flood at US$30mil...or 9X the price......so lets get this straight ELK are claiming that the NPV of 1/4 of Grieve (not inc upper sands) is actually worth 9X the price of the entire grieve field inc upper sand + every other ELK asset......

Is it just me???? Cant other shareholders see that there is a massive discrepancy here?????.....Is it that no one else in the entire US oil industry understands the technology ELK are using, doesnt beleive Surtek have any idea what they are doing??? are ELK shareholders truly gifted with a vision to see the future as no one else can???? or are we just the only suckers to beleive this load of hogwash???? or in fact are the assets great and the directors are doing a terrible job, still beleiveing the assets are worth the same as when oil was $150 and not meeting the market when it comes to moving assets????? It must be one of the above scenarios.......anyone who thinks we have great assets and great directors are in la la land!!!!!!!!