On4 Communications Inc (ONCI)

[moneym8ker]

It’ll be amended to reflect the current price or slightly above the current price.

It happens all of the time.

A company prices some shares at the current price. The share price drops dramatically and they come in and amend the offering price.

The proceeds remain the same but the share cost and the number of shares offered changes.

In this case the number of shares to achieve the same amount of proceeds will nearly triple.
Specifically it was supposed to be around 450 million shares @ $0.0024. The amended offering (if he bothers to amend it...i have doubts he’ll actually go through the trouble) would reflect today’s pricing ($0.0008) and the share offering would be 1.25 BILLION.


It happens all of the time and it’s why I’ve been hard core bearish since the offering. The offering was and is extremely dilutive when he’s telling people on Twitter that he’s retiring shares.