CNN cardia bioplastics limited

p fuel bsn and cnn

  1. 46 Posts.
    The numbers just don't stack up .

    CNN announced on 19/11 they had sold 5.25% at $35,000 (Who acquired these shares and then sold them into BSN?)

    BSN announces on 11/12 they had acquired 13.8% in P Fuel for a consideration price of $335,000

    Based on BSN acquisition price paid for P FUEL shares CNN should of received a much larger amount for there 5.25% interest of $35,000? Or did BSN grossly overpay ?? Who was in the middle of this transaction?

    CNN

    Sold 5.25% (5,250,000) at $35,000 of 100,000,000 p fuel shares based on this calculation it gives a share price of $0.0067 per share and a P fuel market cap of circa $666K


    See below calculation to substantiate numbers:

    0.0067 X 5,250,000 = $35,000

    5,250,000/ 100,000,000 = 5.25%

    0.0067 X 100,000,000 = $666 K Market cap


    Three weeks later BSN Announces

    Acquires 10,000,000 new shares and 5,250,000(5.25%)from an existing shareholder (CNN?) for an acquisition price of $335,000 of now 110,000,000 P fuel shares, representing 13.85% equity in P Fuel. Based on these numbers it values P Fuel at $0.0219 per share and a P Fuel market cap of $2,416 million.

    See below calculation

    0.0219 X 15,250,000 = $335,000

    15,250,000 / 110,000,000 = 13.8%

    0.0219 X 110,000,000 = $2,416 million market cap


    P Fuel mk cap has just increased by circa 250% based on these numbers, something just doesn't add up here?



 
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