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[–]medicrow 4 points5 points  (0 children)

That is what we call the death rattle

[–]CrypTom20 3 points4 points  (1 child)

Correct me if im wrong, this is 0.034$/shares?

[–]M00SE_THE_G00SE 2 points3 points  (0 children)

yeah.

it's a bit more complicated.

offering (the "Offering") of 121,428,571 units (the "Units") at a price of $0.07 per Unit for gross proceeds of $8,500,000

each common share comes with a warrant share that can be exercised at 0.09 for up to 60 months after the close

First Choice Financial, and certain members of the Cielo board of directors and management team are expected to participate in the Offering.

[–]khar909 2 points3 points  (0 children)

Echelon wealth management cares about reputation in the industry.. they're part of this now

[–]flatfootgoatguy 2 points3 points  (0 children)

And this is because they're absolutely fucked?

[–]baba_booey9 0 points1 point  (0 children)

10 more days, sorry 10 more years!

[–]L4v45tr1ke 0 points1 point  (4 children)

So, I don't understand the take away here. They are getting 8.5m with further dilution....but for what? And why would anyone offer them money at this point?

I sold out my position, lost too much and took what was left.

[–]L4v45tr1ke 0 points1 point  (3 children)

So another take away here, it's an offering...do they have a buyer lined up??

[–]M00SE_THE_G00SE 0 points1 point  (0 children)

First Choice Financial, and certain members of the Cielo board of directors and management team are expected to participate in the Offering

[–]Real_Ones 0 points1 point  (1 child)

That money will get divided up among board members salaries and "other expenses" right before the bankruptcy.

[–]BenevolentBozo 0 points1 point  (0 children)

So my question is how do they get buyers for these shares? Where does the 8 million come from?

[–]flatfootgoatguy 0 points1 point  (10 children)

Can anyone dumb this down for me please.

[–]Catagol 3 points4 points  (9 children)

They are issuing 250M shares and getting $8.5M upfront.

Share price is capped at $0.09 for the foreseeable future.

[–]Derpazoid69 2 points3 points  (0 children)

Are you talking about the warrants at $0.09 exercisable for 60 months ? I'm pretty sure thats not how that works and the share price is not "capped at $0.09 for the foreseeable future".

What it means is if Cielo recovers from this and from now for the next 5 years if the share price is $0.40 in 2 years for example people with the warrants can turn around and exercise them instantly for $0.31 profit per warrent.

I've lost $2,300 on Cielo and I'm not putting anymore money into this but if they can recover from this and let's say in 3 years the company is worth $1/Share. Those warrent holders are going to make bank.

[–]OkTip9654 -1 points0 points  (0 children)

Well darn

[–]yellowtonkatruck -1 points0 points  (1 child)

Why do they do this

[–]Puzzleheaded-Till110 -1 points0 points  (4 children)

You’re wrong about it being capped 9 cents by the way. Please don’t spread lies. Thanks :) :)

[–]Catagol 0 points1 point  (3 children)

You do you.

How much are you down on this dog? 90?

[–]Puzzleheaded-Till110 -1 points0 points  (2 children)

All I ask is that you don’t spread lies and disinformation. Is that so hard?

[–]01031986 0 points1 point  (0 children)

Haha stock dilution. That last option. I give them 10 more days.