I saw that... At least PGRX is trying to keep the price at a bottom of $1.50. Once they close out the 25 million the other 1.3 million they owe in unsecured debt will convert to stock. I am assuming it will hold at 1.50. Total outstanding shares will go close to 23 million.
They still have another 747,298 in series A warrants, another 9,298,867 in other warrants. Then we have another 15,404,691 shares that are set aside to the board and other various individuals waiting to be vested.
So all told once every stock is converted and individuals vested have access we will be around 48 million outstanding shares.
Of course this all goes out the window if they do the reverse split.
Hopefully Sichuan will pony up the 20 million to get them through to the Definitive Feasibility Study.
In the end those that are left will be heavily diluted.
Thoughts anyone?
