Situation Dire23 Nov 2023 16:31
The company is using 150,000 shares. 50% dilution. Tells purchaser they have to sell half of their shares as they can only hold 24% of the company. So forced seller. Yet that is only stage one. It needs permission to issue another 50,000,000 share or so. ( 43,600,000 to be precise ) of which half must also be sold. The curious thing is, for the last 50,000,000 (61,500,000) only if the share price is 0.30 pence or more.
So at what price would I buy someone asks? Well it cannot be more than 0.3 pence. Add a premium perhaps 0.50 pence. The same price a funder may come in, but for that will be another load of shares issued. Lets home there is a further contract. Personally I do not understand this company or its product.
Strange thing for a company to say the share price must be above 0.30p. Especially when it was 5 times that or there about.