No one responded because these seem like rhetorica
Post# of 30028
Posted On: 03/25/2016 12:09:32 PM
No one responded because these seem like rhetorical questions. If not, here are the answers.
1. Our share price is so low we need to raise authorized shares to this high of a level to accomodate all the conversions. So we might be diluted into oblivion unless something raises the share price.
2. Anson Investments Master Fund LP agreed to fund the company to the tune of additional $5M, but one of the conditions they required was that the authorized shares be raised to 500M. So this delay means we are not getting the $5M now (or maybe ever).
Anson Investments Master Fund LP
To protect Anson in case all the conversions went through at this low a share price.
We don't get the $5M now.
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So about this 500 Million AS increase thing.
Those who are calling it a debacle or disaster, how so?
1. Our share price is so low we need to raise authorized shares to this high of a level to accomodate all the conversions. So we might be diluted into oblivion unless something raises the share price.
2. Anson Investments Master Fund LP agreed to fund the company to the tune of additional $5M, but one of the conditions they required was that the authorized shares be raised to 500M. So this delay means we are not getting the $5M now (or maybe ever).
Quote:
Who demanded the AS increase in the first place?
Anson Investments Master Fund LP
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What was it going to be used for?
To protect Anson in case all the conversions went through at this low a share price.
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And now that it has been "postponed" how is that bad for the company?
We don't get the $5M now.
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Thanks in-advance.
Cheers
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