More information for anyone reading this thread.
Press release has just been issued on Carbite. This is the information I have received verbally from my broker.
A deal has been consumated whereby the public entity has aquired the remainder of the company. 6,780,000 will be issued as will 917,000 in share purchase warrants exercisable over the next two years at $1.15 in year one and at $1.50 in year two. There is also to be a bonus paid to the principals of 815,000.
This means 8,512,000 more shares outstanding on a fully diluted basis and I believe this means a total shares issued of appproximately 17million. (not positive but am 99% sure).
The company also has said that sales for the first five months are $6.5 million with net income of $475,000. (CDN) My math gives total projected sales for the year at approximately 15.6 million CDN or about $11.5 U.S. and Net Income of $1,140,000 CDN or approx $850,000 U.S. However I assume that the revenue figure will be higher as much of the costs of the new product launch and the cost of infomercials will have already been expensed in prior quarters.
As well Steve Bajic has said he expects sales in the second half to exceed the sales of the first six months.
The corp. also announced two individuals who will be carrying the Carbite name (to carry a Carbite golf bag and wear a Carbite hat), Gene Littlier, and Jerry Fultz, not real big names but its a start. I've also heard that Mark O'mera is carry the Carbite product without compensation simply because he likes the product.
It appears that the stock will be begin trading this afternoon and will likely open around $2.50 CDN. A good run from here can be expected.
And Bill, keep your stick on the ice,
Stevee |
