Each one in plain English, with the numbers worked through for a shareholder.
1 June 2012capital raising announcement▲ Good
Raised another $25,000 (2,500,000 shares at $0.01), continuing the same pattern of small single-investor rounds.
What it means for a shareholder
2.5m new shares at US$0.010 to raise about US$25,000. That's 6.2% dilution: every existing holder's slice gets 6.2% smaller. If you held US$1,000 of shares (100,000 at the issue price), your slice goes from 0.263% to 0.247% of the company. To keep it you'd need 6,579 more shares - about US$66 at the issue price.
Raised a further $25,000 (2,500,000 shares at $0.01) from a single accredited investor for working capital.
What it means for a shareholder
2.5m new shares at US$0.010 to raise about US$25,000. That's 6.2% dilution: every existing holder's slice gets 6.2% smaller. If you held US$1,000 of shares (100,000 at the issue price), your slice goes from 0.263% to 0.247% of the company. To keep it you'd need 6,579 more shares - about US$66 at the issue price.
Raised $25,000 in cash plus converted a $25,000 insider advance from principal shareholder John D. Gibbs into stock (5,000,000 shares at $0.01) — typical of the tiny insider-funded rounds keeping this early-stage exploration shell alive.
Magellan Gold, a small Nevada exploration shell, borrowed $60,000 from its President John Power and principal investor John Gibbs via unsecured promissory notes.
