1.7 million shares per unit multiplied by 34 units sold equals 57.8 million shares. Divide the sale proceeds of $170K by the 57.8 million shares resultes in a sub-penny price per share. It's pretty simple really.
"....Freestone Resources, Inc. (OTCBB: FSNR) (the “Company”), announced today it had completed the first closing of a private placement to accredited investors only of units consisting of 1,700,000 shares of the Company’s common stock. In the first closing, the Company sold approximately 34 units and received net proceeds of approximately $170,000.."
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