From the Visualmed Annual Report 2010:
Since June 30, 2010, the Company has entered into a number of significant negotiations with new strategic partners. In particular, it has entered into an agreement with Ride Empire Corporation in order to raise up to $53 million in new capital designed to expand activities and to finance customers. In exchange for this financing, the Company could issue as much as 40% in additional equity.
As a result, the Company has seen fit to undertake significant steps to reduce its outstanding debt load. On October 29, 2010, the Shareholders resolved by a 62.4% vote to increase the authorized shares of the Corporation from 125,000,000 to 350,000,000 shares. We have since begun striking much of the short-term and long-standing debt from our books, converting long-standing Notes held against us into shares of the Company As of March 1, 2011, 166,605,700 common shares have been issued, the vast majority of which are restricted under rule 144 and cannot be traded.
Now let's see:
40% of 166,605,700 = 66,642,280
$ 53 million / 66,642,280 = $0,79 !!!!!!!!!!!!!!!!!