Well my friend this section is where I’m getting the conversion amount left and the price these guys diluting this new wave. Crazy 1.91 price 2.2million shares coming up. We buying at 2.85 lol. Almost 50% discount to us. What stops them from getting a 50% gain?
After giving effect to the entire conversion of the Notes, assuming a conversion price of $2.2904 per share of Common Stock and that 2,183,025 shares are issued upon conversion of the Notes, and after deducting estimated offering expenses, our pro forma net tangible book value as of March 31, 2018 would have been $25,343,236 or $0.3753 per share. This represents an immediate increase in net tangible book value of $0.0617 per share to existing stockholders and an immediate dilution in net tangible book value of $1.9151 per share to purchasers in this offering, as illustrated in the following table:
Assumed conversion price per share
$ 2.2904
Pro forma net tangible book value per share as of March 31, 2018
$ 0.3136
Increase per share attributable to new investors
$ 0.0617
Pro forma net tangible book value per share after this offering
$ 0.3753
Dilution per share to new investors
$ 1.9151
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