Electronic Cigarettes International Group Ltd fka ECIGQ

[SeanBoy]

They could just raise the AS to 500M instead of destroying shareholders once again.

Let's see if that's even feasible. Does anyone know what the fully diluted is? It's taken on a new importance since the pps conversion is now near/above the conversion. Let do a calculation...

Existing O/S...................................... 75M
Newly issued shares............................... 31M
Newly issued warrants (14.5 cents)................ 49M
Existing warrant (now at 14.5 cents)............. 305M
Existing options (now 16 cents)................... 22M
Newly issued options (16 cents)................... 20M
Warrants Embedded in Conv. debt (14.5 cents)......140M

Total fully diluted shares........................642M

Nope, looks like the would need to raise the A/S to at least 700M.

No one seemed to notice that by resetting the conversion price for from 75 cents the 14.5 cents, the embedded warrants in the convertible debt increased over 5 fold.