With 22,500,000 shares issued, how do we get a market cap at over 11.9M?
Thank you for the information.
Here's a link that explains the share total. Page 2 has the summary.http://sec.gov/Archives/edgar/data/922237/000119312512061422/d301749d424b3.htm
Profj, You are correct. They had about 32M shares, but did a secondary offering that closed at the end of 2011. 22.5M shares added, 11.25 purchased shares, and equal 11.25 amount attached in the form of warrants that can exercised into shares. So the current OS is 42M+, if all the warrants are converted they its 53M+.
I see that 11/30/11 reports show @31.5M weighted average. Scottrade today shows the market cap using the 42+M number. Perhaps the 22.5 was a secondary offer?
31,520,000 is the share count unless I am mistaken.
Shares Outstanding42.8MMkt Cap $15+ Million