Bio-AMD Inc.: announcements explained, share price

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

28 Oct 2009capital raising announcement● Neutral

Effective October 22, 2009 the company issued 10,100,000 warrants (seven-year, $0.07 exercise price) to management and a key employee, including 5,800,000 to Thomas Barr, 2,000,000 to Robert Galvin and 2,000,000 to David Miller. 5,200,000 vest over time through 2011, and 4,900,000 vest only if the average share price reaches $0.45 (half) or $1.00 (half) over twenty trading days by October 21, 2012; all vest on a change in control. If exercised, these would add shares and dilute existing holders.

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6 Aug 2007capital raising announcement● NeutralMajor

The company, now named Flex Fuels Energy, Inc., closed a further private placement on July 31, 2007: 4,871,838 shares at $0.90 for gross proceeds of $4,384,653.80, with another 81,667 shares ($73,500) conditionally sold. This adds to the share count after the May deal. The filing also confirms the name change from Malibu Minerals, effective July 6, 2007, and a new ticker, FXFL.OB. It commits the company to register the shares, with liquidated damages if it is late.

What it means for a shareholder

4.9m new shares at $0.900 to raise about $4.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

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5 Jan 2007capital raising announcement● NeutralMajor

Bio-AMD Inc., then called Malibu Minerals, signed a deal on December 29, 2006 to buy Flex Fuels Energy Limited, a developmental-stage UK biodiesel company. It paid $1,500,000 for 15% now and agreed to buy the other 85% for 24,854,479 new shares, subject to conditions including raising at least $11,800,000. The $1,500,000 came from a $1,650,000 sale of 2,357,143 shares at $0.70 to non-U.S. investors. Director Thomas Barr was appointed to the Flex Fuels board.

What it means for a shareholder

2.4m new shares at $0.700 to raise about $1.6m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

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