Past year: ▲ 0%(0.01c – 0.01c USD)
Each one in plain English, with the numbers worked through for a shareholder.
18 June 2015capital raising announcement● Neutral
On June 16, 2015 the company approved selling one more convertible note of $200,000 at 12%, due June 16, 2017, with a warrant for up to 40,000 shares at $0.80. Terms are otherwise the same as the June 4 notes, bringing this round to $850,000 of notes. This continues the convertible note financing.
4 June 2015capital raising announcement● NeutralMajor
On June 1, 2015 the company approved selling $650,000 of 12% convertible notes to four investors, maturing March to April 2017, with warrants for up to 130,000 shares at $0.80 each. The notes can be converted once into new securities the company later offers, so conversion could dilute shareholders. The filing does not say what the money is for.
19 May 2014capital raising announcement● Neutral
The company disclosed private share sales: 193,750 shares at $0.80 on December 20, 2013, and 1,144,000 shares at $0.50 between December 21, 2013 and May 15, 2014, with no commissions paid. The later sales were priced lower than the first, and the new shares further dilute existing holders and are restricted from resale. The filing does not state the total proceeds or what they will be used for.
What it means for a shareholder
193,750 new shares at $0.800 to raise about $155,000. That's 1.0% dilution: every existing holder's slice gets 1.0% smaller. If you held $1,000 of shares (1,250 at the issue price), your slice goes from 0.00678% to 0.00671% of the company. To keep it you'd need 13 more shares - about $10 at the issue price.
Create a free account to see this worked out for your own holding.
