nodummy Tuesday, 07/10/18 11:16:35 PM
Re: Kano58 post# 13667 0
Post #
13672
of 16382
The SEC already approved it. The S-1 was made effective.
Best case none of the warrants ever get exercised and ABWN never ends up selling the other 1,000 units.
In that best case situation you are looking at 1,657,352,970 more shares of dilution from preferred share converstions to go at the current price. If the price drops before the last 735 preferred shares are converted then that number goes up.
At a market price of $.0005/share it comes out to 2,787,878 common shares for each preferred share. $1150/($.0005 X $.825)
At a market price of $.0004/share it comes out to 3,484,848 common shares for each preferred share. $1150/($.0004 X $.825)
At a market price of $.0003/share it comes out to 4,646,464 common shares for each preferred share. $1150/($.0003 X $.825)
At a market price of $.0002/share it comes out to 6,969,696 common shares for each preferred share. $1150/($.0002 X $.825)
At a market price of $.0001/share it comes out to 13,939,393 common shares for each preferred share. $1150/($.0001 X $.825)
Also keep in mind that the preferred stock isn't the only dilution threat on the AWBN balance sheet. ABWN had $3,730,431 in convertible Debt Notes on the balance sheet on May 31st.
They only converted $1,008,131 of that debt as of July 6, 2018.
As a fully reporting SEC filer I think we are looking at 6 months for convertible debt to be aged enough to be converted into free trading stock so December debt is already past due and January debt is coming due now. March debt won't come due until September.
The way ABWN burns through cash I don't see them using their remaining cash to pay off the debts but maybe they will raise more money from the unit holders exercising their warrants... but of course that's a catch 22 because then you end up facing more dilution from preferred stock conversions instead of convertible debt conversions.
