Without going back and checking, I thought the private placement was restricted for a year. Regardless, those shares, fully exercised, with warrants, come to apx. 15 million. If not restricted, many were probably sold at much higher prices. If the price holds up, we will probably see the warrants exercised, making $900,000.00 for exbx and adding 4.5 million to the float. Here is how I figured it...
for $20,000.00 each block had 2,203 shares worth 91 common each.
2,203 x 91 = 200,473 shares each block (apx. .10 each)
200,473 x 50 blocks = 10,023,650 totaL shares from pp
warrants..
90,000 x 50 = 4,500,000
10,023,650 + 4,500,000 = 14,523,650
Have to assume the company has been selling some to cover expenses. They will owe OSR apx 3 million for the total, completed product. They had stated they were working on a payment plan. But, if there was no help from grants etc, they might have to sell 10 million or so to cover debt. Insiders shares, when converted are apx. 315 million. If the product is as good as they project, I doubt they will ever sell enough to lose control of the company. If I were them, and felt this was that revolutionary, I would try to personally and corporately, buy back as much as possible. So, by the time SUEZ goes on the market, we could see a common os of up to 40 or 50 million shares. I am not upset with that, if the product does HALF of what they think! So, I will be trying to buy more when I can afford it, unless management totally blows it and floods the market. JMO.
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