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Tuesday, April 12, 2005 8:13:53 AM
I don't think so! If the need for more capital is because we are expanding so rapidly, then this is the worst possible way to raise capital.
Each of us here think the share price could go north of $0.50 by year end and to dilute the company by issuing shares (which would have to be at a discount to market) at maybe 6 or 7 cents is nuts. 90M shares at 7 cents is $6.3M. If we are so close to making it big, then we should be borrowing at 5 or 6 per cent interest. If the share price does reach 50 cents by this time next year, then that is an equivalent borrowing rate of 1000%. Favorable terms indeed!
If we are growing at 8 times the previous rate then revenue is coming in 8 times previous rate. Adding a couple of employees should easily be taken care of by just doubling the rate.
Volume: | 251,810 |
Day Range: | 0.0004 - 0.0005 |
Bid: | 0.0004 |
Ask: | 0.0005 |
Last Trade Time: | 10:32:38 AM EST |
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