Ok ,lets look at the situation with what we have in front of us .Firstly lets put it out front that we all went in this at 35 cents to get a processing plant & into production & even 7 mill in the bank .Now we are told that that wasnot enough & the company needs some more spending money till they get the concentrate delivered & paid for .......If you want to preserve your current level of equity there is really no choice , you have to go in it , they know that .But to pay 18-20 cents on market to get the right to one -third of $5000 worth , is very poor ecomomics .If your not an existing shareholder then to get an allocation , you are going to loose 6 cents times 3 , to buy the 12 cent shares.This whole aspect was not poorly thought out - by BBY i would have quessed .I think the only thing existing shareholders can do is subscribe for the one-third of $5000 worth & certainly don't buy anything abouve 12 cents on market to get any rights to another allocation ......Really i know it's blasphemy to suggest it , but whos to say they wont be 12 cents after the issue .You've got some , you thought it was enough , but it isn't now .Hey , there are plenty of other companies out there .As I've said before , i don't hold the stock , but I might buy some if it trades 12 cents after the issue and if the way this has been handled is any indication , i think there is a good chance of that occuring.
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quite possible a bit nervous about the vote , page-10
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