Scalpel......You hit the nail....
You got me thinking then I went back to the "Pre Funded Warrants"in the filing....That is it. They took the commons and the Pre Funded are paid for to TMDI but not counted on the offering as a percentage in TMDI ownership.
This is how the buyer of the offering stays hidden,unless I am missing something,Per filing as follows...
On June 10, 2020 we completed an offering of 6,500,000 Common Shares, 11,500,000 pre-funded warrants (each, a “June 2020 Pre-Funded Warrant”) and 9,000,000 Common Share purchase warrants (each, a “June 2020 Common Warrant”) at a price of $1.00 per Common Share and June 2020 Common Warrant or $1.00 per June 2020 Pre-Funded Warrant and June 2020 Common Warrant, resulting in total gross proceeds of $18,000,000 ($16,400,000 net of estimated closing cash cost including cash commission described below). Each June 2020 Common Warrant is exercisable to purchase one Common Share at an exercise price of $1.00 per Common Share for a period of four (4) years following the date of closing of the offering. Each June 2020 Pre-Funded Warrant is exercisable to purchase one Common Share at an exercise price of $0.0001 and will expire when exercised in full.
I thinks this makes it crystal clear...HC thoughts?????others welcome.
Thanks Roll