After the PP today for $ 4,000,000 amending the earlier PP release of $3,000,000 we will have lets say 16 million shares o/s . That is after taking into account the 2,667,000 issued today and the 100,000 issued to Ben for loaning the company 525,000 on October 31, 2012. let us also say that after all the bills are paid for this round of drilling we still have 3 million dollars in cash left.

Then here we go                                               16,000,000 shares                               3,000,000 cash

Warrants till Nov 10/12  @ 1.20                           300,000                                                 360,000

Warrants till Dec 29/12 @ 1.50                            212,000                                                318,000

Warrants till Feb 17/14 @ 1.50                             980,000                                             1,470,000   

Warrants till Feb 17/14 @ 1.20                             830,000                                                996,000

Warrants till may 21/15 @ 1.00                         3,205,000                                             3,205,000

Warrants till Nov 25/13  @ 1.80                         1,334,000  (today)                               2,401,000

Options till 2015 @ 1.00                                         600,000                                                 600,000

Options till 2017 @ 1.20                                         612,500                                                 735,000

Agent options till Feb17/14 @ 1.00                       105,000                                                 105,000

Agent options till 2017 @ 50 cents                       225,000                                                 112,500

 

Ok then we have fully diluted shares o/s         24,403,000 and cash in the bank of  13,302,000

 

If we can stretch the 3 million in the bank now till this time next year then we will have another 2.4 million dollars coming in from the 1.80 warrants.  With any kind of drilling luck and in the event we need to finance some more we should be able to do it in the 4 to 6 dollar range thus minimizing further dilution

The more I look at this the more I like it.

Comments welcome

Candykid