Shares in Issue and the future12 Aug 2019 23:08
20/10/14 - 1,334,133,886 shares in issue
Consolidated 10 to 1
01/05/15 - 131,965,452 on return to AIM
02/08/18 upon cancellation 335,710,864 share in issue +154.3% since he took over.
A bargain so far, when you think about what we have gotten in return from the wise old fox Borrelli’s deployment of company capital.
Now that Par value is to go from 0.01p to become 0.0005p (0.01/20) and we have agreed to raise (£1.25m) $1.5m to fund Revelo upon attempting to re-list the co. factor in we may need to be raising potentially more than $1.5m as directors want money for their efforts to give us lucky shareholders a chance again.
$1.5m (£1.25m) at 1p would be another 125,000,000 shares in issue. And this is on the optimistic side as Alex Borrelli and Directors agree the shares are now worth less than 1p per share.
That would give us
460,710,864 shares in issue.
Revelo are to be given 19.99% of the Shares in Issue. They aren’t taking part in the fund raising and unless JLP are giving them 19.99% of their holding I can only speculate that shares will have to issued to ensure Revelo get their 19.99%.
In order to do that a further c. 25% of the current shares in issue would need to be issued in order to give Revelo their agreed 19.99% interest.
460,710,864 + 25%
575,888,580 * 0.1999 = 115,177,716 shares to Revelo.
This will be maintained pro-rata until BMR have spent $2.5m.
I think I’m being way too ‘hopeful’ with the level of shares that will be issued in order to raise the agreed capital, the par value has been divided by 20 so they must be thinking much lower. This will be a new co. after all and will be treated as such, the moment it lists as Callisto Resources.
I would imagine by the time Borrelli and co. have spent the $2.5m within next 2½ years we will have closer to 2 billion shares in issue meaning Borrelli will have increased shares in issue 15 fold.
2 billion shares will mean each 1p in SP becomes £20m in Market Cap. value. Current shareholders will be wiped out in next few weeks. I’m not willing to entertain delusions or hopes that Chile will deliver the goods when Borrelli has failed consistently for the last 5 years here.
At best shareholders will get a chance to sell at a massive loss, realising that all the risk has been for nothing.
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