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Sunday, November 14, 2010 1:43:00 PM
Read the 8K, here is what I understood about dilution from merger activities.
Phase I - after 12 months, Phase II- after 36 months
If PPS is stuck at $0.004 after next 12 months then 300K series H will be converted to 750M common, potentially another 750M (for another half of series H) over next 36 months. The conversion price will be 25% discount of closing price e.g. 75% of closing price. So if PPS is stuck at $0.004 then the conversion price will be $0.003
Here is my math on dilution
PPS projection after 12 months
Why do you guys think, with $100M+ revenue potential in next 12 months, hot growth in mobile payment sector, around 400M o/s, and with so many improvements in earning reports, FLTT will be siting at $0.004 for next 12 months?
Dilution could be 150M shares in next 3 years
At current fundamentals and share structure, this stock could be traded at $0.10 (2 times sales). Let's say by next 12 months it hits $0.10. The conversion price will be 75% (e.g 25% discount) of closing price e.g. $0.075 not $0.003. So the first phase of dilution, would be 25 times less e.g 30M instead of 750M. Same thing could happen for the second half of conversion. So total 60M from two phases, assuming PPS hit $0.05 after 12 months, the dilution will be just doubled to 120M
Do your DD, I believe after the Q1 it will break $0.01 and then quickly rush into $0.05 territory.
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