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Either way its 3p and i believe the working capital at 1p for £500k is a proposal been told by dc they wont necessarily do it so if so only 60m extra shares. Also as another poster who posted earlier , he spoke to dc, investor will be buying a lot higher than 3p. So perhaps 5/6p after re reading and speaking to dc Im vey confident of 10p short- medium term
Read it again i dont think £1.85m will now be issued at 1p it jyst says they incorrectly said shares will be issued at par value which is 1p so its still 3p as par value is 1p not 3p your thoughts HE FOLLOWING ANNOUNCEMENT REPLACES THE ANNOUNCEMENT "CORPORATE UPDATE" MADE AT 09.01 ON 29 DECEMBER 2023 WITH RNS NUMBER 1993Y. IN THE PREVIOUS ANNOUNCEMENT, IN THE THIRD PARAGRAPH, THE CREDITORS' CONVERSION PRICE OF £0.03 WAS INCORRECTLY DESCRIBED AS BEING "AT PAR VALUE" (WHEREAS THE CORRECT PAR VALUE IS £0.01). THIS REFERENCE HAS NOW BEEN DELETED AND ALL OTHER TEXT REMAINS THE SAME.
Correction £1.85m total debt 350k and 200k owed to directors at 3p so thats £1.3m convereted at 1p and 550k at 3p plus £500.k at 1p to expand so thats 130m shares plus 20m shares and 50m = 200m extra shares so to hit 10p = £45m mc
So basically total debt converted in shares at 1p = 185m shares £1.85m includes money owed to directors and £500k at 1p to help the busines grow thats 50m shares so 235m extra shares almost 100% dilution total shares will be almost 500m shares so to hit 10p = £50m mc is this right?
Ryan views change according to news, total monies converted £1.85m most at 3p and 500k at 1p thats is 40% dilution 75m shares!! So to get to 10p we need a market cap of £70m how is this good news?
Knigel wake up… its delaying tactics nothing says wr are confident In the light of the matters referred to above, the Company is now proceeding to finalise its overdue Audited and Interim Accounts by the end of January, failing which AIM have now agreed that the cancellation of trading on AIM would take place on Tuesday 1 February.