Yawn, exactly as I predicted.
Now there's a new Series B shares. Looks like they're on their way to becoming and alphabet soup stock.
Its good they got much needed capital injected. Since they lost $827,771 the last quarter, so with this infusion it looks like they have enuf cash on hand for another 9 - 12 months
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My Breakdown: 15,000 "Units" at a price per Unit of $100.00. Each Unit consisted of one share of Series B Convertible Preferred that is convertible into 400 shares of common stock, and a seven-year warrant to purchase 400 shares of common stock at an exercise price of $0.25.
So 15,000 x 400 = 6 million shares @ .25 per share
[$1,500,000/6,000,000 = .25]
added to existing 73,105,834 + 6,000,000 = 79,105,834 outstanding
Then add an addition 6,000,000 warrants to the existing:
As of June 30, 2017, the Company had warrants outstanding to purchase 14,332,332 shares of common stock at exercise prices of $0.25 - $1.00 per share that expire in various years until 2024. In addition, there are seven-year warrants outstanding at June 30, 2017 to purchase 753,455 Units at exercise prices of $0.25-$0.35 per Unit.
I come up with a total of 21,085,787 warrants.
Looks to me like on a fully diluted basis (assuming exercise of warrants) there are 100,191,621 shares. IS THAT CORRECT?
Anybody care to help me with my math / calculations.
I guesstimate they now have ~2.4 million in cash and the book value of the company is now a little of .03 per share.
Come the middle of next month when the filings come out we will have a better picture.
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Final note: all I saw on news release was selling at bid.
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That said I hope they or Vtesse come up with a cure for this heinous disease.
good luck to longs. I'm watching from the sidelines for now.
