RE: Buys going through as sells31 Jan 2023 09:10
RNS keeps float a bit lower i had the notes in (estimated)
theirs is: 39,663,702,144 Ordinary Shares of £0.00001, each with one voting right.
mine was :
· Iconic signed a £3,000,000 financing facility with EHGOSF to pay for the Company's short term operational needs and the Company Voluntary Arrangement ("CVA") requirements. After drawing down 3 tranches under this facility, as noted in the Accounts, the Company cannot draw down any more funds until the Suspension is lifted.
o Unsecured creditors agreed to a 75% discount in their claims against the Company (a reduction from approximately £1,070,000 to £267,000) to be satisfied through the issue of 1,674,130,609 new ordinary shares in the Company, if the CVA payment obligations referenced above can be met.
o Secured creditor claims brought against Iconic of roughly £4,200,000 were reduced to £750,000 to be satisfied through the issue of convertible notes. 1,674,130,609 x 2.8 = 4,687,565,705
o EHGOSF reduced its claims against Iconic of £3,000,000 down to £750,000 to be satisfied through the issue of convertible notes. 1,674,130,609 x 2.8 = 4,687,565,705
1,674,130,609
1,674,130,609
4,687,565,705
4,687,565,705
=
12,723,392,628
12.7B new shares pays debts
before £5.985m / 0.00016 = 37B shares
total shares now 49.7B
=25% dilution
£50m lending/49.7B shares = £0.001006