Looks like NSP* 2.0
If you purchase shares in this offering, your interest will be diluted to the extent of the difference between the public offering price per share of common stock and warrant and the net tangible book value per share of our common stock after this offering. Our net tangible book value as of June 30, 2018 was $2.1 million, or $1.15 per share of common stock (based upon 1,794,762 outstanding shares of common stock). “Net tangible book value” is total assets minus the sum of liabilities and intangible assets. “Net tangible book value per share” is net tangible book value divided by the total number of shares of common stock outstanding.
After giving effect to the sale by us in this offering of the securities in this offering at an assumed public offering price of $2.63 per share of common stock and warrant (the closing price of our common stock as quoted on the NASDAQ Capital Market on October 2, 2018), and assuming all shares of Series C Preferred Stock were converted to common stock, and after deducting the estimated underwriting discounts and commissions and estimated offering expenses that we will pay, our net tangible book value as of June 30, 2018 would have been approximately $11.9 million, or $2.00 per share of common stock. This amount represents an immediate increase in net tangible book value of $0.85 per share to existing stockholders and an immediate dilution of $0.63 per share to purchasers in this offering.
The following table illustrates the dilution:
Assumed public offering price per share of common stock and warrant $ 2.63
Net tangible book value per share as of June 30, 2018 $ 1.15
Increase in net tangible book value per share attributable to this offering $ 0.85
Pro forma net tangible book value per share after this offering $ 2.00
Dilution per share to new investors $ 0.63
The dilution information set forth in the table above is illustrative only and will be adjusted based on the actual public offering price and other terms of this offering determined at pricing.
The above table is based on 1,794,762 shares of common stock outstanding as of June 30, 2018, and:
? assumes no exercise of options to purchase an aggregate of 1,798 shares of common stock with a weighted average exercise price of $325.97, issued and outstanding under our 2015 Stock Plan and outstanding and exercisable on June 30, 2018;
? assumes no exercise of warrants to purchase 1,882,661 shares of common stock with a weighted average exercise price of $25.94 per share outstanding on June 30, 2018; and
? assumes no exercise by the underwriters of their over-allotment option.
If the underwriters exercise in full their over-allotment option, our net tangible book value per share after giving effect to this offering would be approximately $13.5 million, or $2.04 per share, which amount represents an immediate increase in net tangible book value of $0.89 per share to existing stockholders and a dilution to new investors of $0.59 per share.
If we issue any additional shares in connection with outstanding options or warrants, there will be additional dilution.
Securities to be Issued in this Offering
We are offering 836,501 shares of common stock and warrants to purchase 836,501 shares of our common stock at an exercise price per share of $ Anyone wanna guess , together with the shares of common stock underlying such warrants, at an assumed public offering price of $2.63 per share of common stock and warrant. The shares of common stock and warrants are immediately separable and will be issued separately in this offering.
We are also offering to those purchasers whose purchase of common stock in this offering would result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock following the consummation of this offering, the opportunity to purchase, in lieu of the number of shares of common stock that would result in ownership in excess of 4.99% (or, at the election of the purchaser, 9.99%), 3,346,007 shares of Series C Preferred Stock, par value $0.0001 per share, convertible into one share of common stock and warrants to purchase 3,346,007 shares of our common stock at an exercise price per share of $ ? , together with the shares of common stock underlying such shares of Series C Preferred Stock and warrants, at an assumed public offering price of $2.63. The shares of Series C Preferred Stock and the warrants are immediately separable and will be issued separately in this offering.
I predict an AS increase coming, and the offering will be around $.40-.60
It has been my experience over the years that whatever the final offering price ends up being (They used $2.63 as "bait") is where the stock will end up minus about 10% to 20% , and then after a couple weeks it will drop to about 50% of the offering in order to push out retail. Then, they will run it back up months down the line when no one is expecting it, and unfortunately retail will sell out too early based on frustration. : :( Jmo
Tic tock
