Member Info for equitrder

Ok got my info from Sea in an earlier post. Little concerned that there are too many shares outstanding for a start up with no revenue and more dilution down the pipeline.

If they are saying that 24 pence will be the new share issue price and that the current acquisition price is 3 pence does that imply a 1 for 8 reverse split for current Fastnet shareholders?

I actually brought 250k shares at 3.2 cents here because I thought they had a good team of oil executives and cash. Interesting developments. I'm hopeful but I think its a long term play. New team coming in is strong