Correction to your calculations "BrighterSt..."Rights offer is 1...

Correction to your calculations "BrighterSt..."

Rights offer is 1 share for every 5 currently held at 1.5c per share

+ bonus of 2 options for every 5 new shares acquired (free of charge)

If you currently have 1,000,000 shares, you can apply for one fifth or 200,000 shares at 1.5c

Cost = $3,000

PLUS

You will receive 2 options for every 5 new shares (=2/5 * 200,000), an extra 80,000 options free.

Assuming you convert 80,000 options, it will cost you $800 as it is .01 Cents to convert each of these options to fully paid shares (NOTE: options are allocated free to you when you take up new shares, but they still cost you .01 cents to convert them to full share).

So, assuming you convert, You will get 280,000 shares for $3,800.

This equates to 1.13 cents per share.

It is still not a bad option at all.

I will hold onto mine until next fruitfull news.

Cheers