Do the simple maths;
699 million shares @ $1.83 = $1.279 billion
2313 million shares @ $1.10 = $2.544 billion
Equals
3012 millon shares @ $3.823 billion
Equals
1 share = $1.265
The current sp of $1.28 does not reflect the restructuring of the balance sheet or the massive institutional support that will be given to the stock moving forward.
One last thing, retail investors have been screwed and are the losers in this game.
They should vote "NO" to Rowsthorn's $194 million conditional placement so that he loses his absolute control of the company.
He who laughs last laughs longest.
Stagman
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