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Yep. I have both.
Golden Rainbow's is certainly being an enigma with its action. I can't seem to find any background on it via Google.
There is some speculation that it is cash strapped and thus raising funds to exercise its rights. If that is true, it would have sufficient funds after today (assuming that the 10 million married deal was from them).
Some numbers on Golden Rainbow.
Shares held before - 25,000,000
Shares sold - 15,626,000
Shares left - 9,374,000
Sale of shares proceeds - $3,769,420 (assuming avg sold px @ $0.67)
Married deal proceeds - $6,550,000 (assuming negligible transaction costs)
Rights held before - 31,250,000
Rights sold - 13,012,000
Rights left - 18,238,000
Sale of rights proceeds - $2,146,980 (assuming avg sold px @ $0.165)
Total capital raised = $12,466,400
Total capital needed to exercise rights = $9,119,000
It currently has excess funds of $3,347,400 instead of a shortage of $3,202,600 before the married deal was done (assuming its from them).
Just some food for thought.
Golden Rainbow's is certainly being an enigma with its action. I can't seem to find any background on it via Google.
There is some speculation that it is cash strapped and thus raising funds to exercise its rights. If that is true, it would have sufficient funds after today (assuming that the 10 million married deal was from them).
Some numbers on Golden Rainbow.
Shares held before - 25,000,000
Shares sold - 15,626,000
Shares left - 9,374,000
Sale of shares proceeds - $3,769,420 (assuming avg sold px @ $0.67)
Married deal proceeds - $6,550,000 (assuming negligible transaction costs)
Rights held before - 31,250,000
Rights sold - 13,012,000
Rights left - 18,238,000
Sale of rights proceeds - $2,146,980 (assuming avg sold px @ $0.165)
Total capital raised = $12,466,400
Total capital needed to exercise rights = $9,119,000
It currently has excess funds of $3,347,400 instead of a shortage of $3,202,600 before the married deal was done (assuming its from them).
Just some food for thought.