Calypso Wireless (fka CLYW)

[Lord Ship]

OK, maybe I am treating CLYW a bit harshly. I keep forgetting that this is a Pink Sheet paper! As a Pink Sheet I am sure director’s loans, debt-equity swaps and supplier’s payment with new shares and other hand-to-mouth measures are commonplace.

Maybe the existing major shareholders have not yet even been asked if they would like to buy more shares. Another 2 million shares is an increase of around 2% of current No. of shares. In other words, not a big share issue at all.

200m shares have been authorised so the board can go ahead and issue 95m additional shares. But they will only do so when they need to, and if they can wait until the share price is higher then they would get more money for each share.

One good thing is that CLYW has practically no debt, only $750,000 plus whatever they have spent this year over and above the cash they had in January. Therefore no creditors should be able to come and bankrupt them.

But I still wouldn't sleep very well with my pillow filled of CLYW-shares!