Friday, March 08, 2019 12:18:50 PM
This estimation ranges between delightfully optimistic to ludicrous fantasy. On the fantastical side of the spectrum, we have $5M for 20,000,000 shares. That would be the current share price, around .24/share. Not going to happen. The other end of the spectrum we have $3M raised for 25,000,000 shares, which would be around .12/share. While that is more realistic, keep in mind the share price was well over $2 when they were selling warrants for .75. They haven't even announced the reverse split yet, which will further deteriorate SP. By the time Wainwright starts up their dilution machine, it'll be a miracle if the current share price is still in double digits, not to mention the offering price. I would think the next $3M is going to cost at least 50,000,000 shares.
Call on God but row away from the rocks.
-Hunter S. Thompson
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