some interesting calculations and facts

copy & paste from GT..........



While I am cleaning up some untruths regarding BLR, lets revisit the maths regarding the $6 Million at 1.4 cents, capital raising.

Current shares on issue for BLR pre just announced deal.

1 669 631 551 - 100%

Alex Molyneux current holding in BLR 19.67%
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328 416 526 - existing shares



Once new deal ratified by holders in Feb 2014 $6M @ 0.014

428 571 428 - new shares to investors
1 669 631 551 - existing shares
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2 098 202 979 - Total shares on issue


Lets see what Alex ( Azarga) owns of BLR after $6 M raising

328 416 526/ 2 098 202 979 x 100 = 15.65%

Alex Molyneux holding in BLR after the capital raising 15.65%
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As far as I know that is a decrease, is it not?



Just for interests sake lets convert the debt facility

$11.5 Million at 1.7 cents

676 470 588 - shares from debt conversion
2 098 202 979 - shares on issue after capital raising
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2 774 673 567 -



Alex Molyneux ( Azarga) holding after capital raising & debt conversion.

328 416 526 - Current holding
676 470 588 - issued after debt conversion (notional)
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1 004 887 114 / 2 774 673 567 x 100 = 36.21%