Applied DNA Sciences Inc (APDN)

[JLH2]

Let's try that math again.

Outstanding shares now 808.60M
Outstanding after a 1:40 RS 20.215M
Price now - call is $0.12/share
808.6M*$0.12=$97.032M
Price after 1:40 RS $4.80/share
20.215M*$4.80=$97.032M

Issue 10M new shares at $4.60 = $46.0M

Total shares 20.215M + 10M = 30.215M
If the company value does not change, then the net share prices would be $97.032M/$30.215M = ~$3.2114

Company can do the same thing right now. Only difference is that to raise $46M at $0.10/share they would need to issue 460M shares.

So question is: Why would the company need to raise $46M?
The company is only worth ~$97M. Why would they try to raise the equivalent of 47+% of the current companies net worth?

I believe that would be suicidal to everyone. Further, I don't believe that they would find anyone willing to buy the stock for $4.60/share if that is what they were doing & the current lenders would want their stock revalued because the dilution is too much.