Past year: ▼ 50%(0.20c – 0.90c USD)
Each one in plain English, with the numbers worked through for a shareholder.
18 May 2012capital raising announcement▼ BadMajor
On May 17, 2012 the company sold 3,853 units at US$220 each to a small group of investors outside the US, for gross proceeds of US$847,660 and US$56,188 in placement fees. Each unit is 1,000 shares plus 750 warrants at US$0.26 expiring July 31, 2012 and 750 warrants at US$0.30 expiring March 31, 2013, so about 3.85 million shares were sold at roughly US$0.22 each. This is another small, dilutive raise following the February 2012 one.
28 Feb 2012capital raising announcement▼ BadMajor
On Feb 22, 2012 the company accepted subscriptions to sell up to 2,500,000 units at US$0.25 each, for US$625,000 total, to accredited and non-US investors. Each unit has one share and one warrant at US$0.32 for two years, and finders get 36,000 shares and 150,000 warrants. The price is far below the US$0.85 paid in the October 2010 offering, and the new shares and warrants dilute existing holders.
What it means for a shareholder
2.5m new shares at US$0.250 to raise about US$625,000. That's 2.9% dilution: every existing holder's slice gets 2.9% smaller. If you held US$1,000 of shares (4,000 at the issue price), your slice goes from 0.00483% to 0.00469% of the company. To keep it you'd need 121 more shares - about US$30 at the issue price.
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27 June 2007capital raising announcement▲ GoodMajor
The company completed the private placement it announced in June, selling 5,680,000 units at $5.00 each for $28,400,000 gross (more than the 5 million units first proposed) through agents Primary Capital and Jones Gable. Each unit has one share and a half-warrant exercisable at $7.50 to June 20, 2009; agents get a 6% commission and options on 340,800 shares at US$5.00. The company must file a resale registration by August 18, 2007 or issue extra units to buyers.
What it means for a shareholder
5.7m new shares at $5.00 to raise about $28.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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1 June 2007capital raising announcement● NeutralMajor
The company announced a letter agreement to offer up to 5 million units in a best-efforts private placement for gross proceeds of up to US$25,000,000. It is a proposal at this stage; completion is not stated in this filing.
What it means for a shareholder
5.0m new shares at about US$5.00 to raise about US$25.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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15 Sept 2005capital raising announcement▲ GoodMajor
In September 2005 the company sold 4,252,400 units at $6.50 each (one share plus a half-warrant exercisable at $9.00 through September 9, 2007); 3,252,400 units were sold via agent Jones Gable for gross proceeds of $21,140,600 before a 6% commission, and 1,000,000 units were sold directly to three Canadian institutions. This adds new shares (dilution for existing holders), and the company must file a resale registration statement by November 8, 2005 or issue extra units to purchasers.
What it means for a shareholder
4.3m new shares at $6.50 to raise about $21.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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