Thanks for the link. I was wondering what the exchange ratio for CSMA to BUFF would be. Appears to be 1 for 1, for CSMA to retain 95% ownership.
If you take into account the BUFF warrants (exercise price $2/$4) that leaves 72% (but of course we get money $19.3 million which could be used for expansion).
Seems cheaper to me for CSMA to issue 100,000 shares (to raise the 25k for the 10k), but not as expedient.
Kurt
...
On January 15, 1998, shareholders surrendered 12,000 shares of the
Company's no par value common stock, reducing the number of
outstanding shares from 135,000 to 123,000. On January 30, 1998, a
10 to 1 forward split was authorized, increasing the outstanding shares to 1,230,000. On February 2, 1998, an additional 30,000 shares were issued in exchange for consulting services.
As of February 28, 1998, 1,260,000 shares of no par value common
stock were issued and outstanding, along with 4,830,000 Class A
warrants and 2,415,000 Class B warrants entitling the holder to
purchase one share of stock for $2.00 and $4.00, respectively.
... |
