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Tuesday, February 15, 2011 1:06:03 PM
He also confirmed that Northern Graphite has 23 Million shares outstanding, pre-IPO,
Post IPO (assuming a 6 Million share issuance)there will be 29 Million shares outstanding.
Assuming a $.50 IPO price (as stated in previous PR) this would give the Newly issued Northern Graphite a miniscule Mkt cap of just $14.5 Million (Cad), of which 42% is in the hands of IDSM shareholders $14.5 X .42 = $6.09 Million (value of NG shares held by IDSM @ $.50 CAD)
If anyone wants to confirm his statements to me, Greg may be reached at (613) 241-9959
100,000 block just went through @ ask .0795 (12:34:06 PM).
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