virtual takeover, page-2

Previous market cap:
1016m shares at 45c each = $457m
I'm using 45c as the centrepoint of trading in the prior two years.

Placement:
585m shares at 53.5c each = $313m

Postplacement:
1601m shares at x each = $770m
x = 48c

Using the last sp of 36.5c... then postplacement x = 43.8c

Using an sp of 40c... then postplacement x = 45c

I'm not sure what you mean by funding uncertainty? Was there doubt that the Koreans or the Japs wouldn't back the company? You think they're stupid?