We all now own 15% less of Selinsing and Mengapur because management wanted to accelerate development of Mengapur by three months. Not smart.
For those who suck at math, your ownership was diluted by 15% (30 million more shares o/s divided by 200 million shares o/s before the PP) and we gain at best three months (Selinsing's earnings every three months). The real bad part is that it probably does not accelerate anything since the money is more than they need at present and will probably sit on the books. It is just management giving our company away in chunks at a low price while refusing to either sell the whole thing at a high price or be patient and let Selinsing fund Mengapur. Forgive me for not applauding.