Oct. 28 at 5:35 PM
$GCTK so here is my understanding of the upcoming vote - essentially it give 6th Burrough the option to sell the shares the purchase through the September financing agreement, back onto the market over time. Will this dilute, yes, Will this happen all at one, No.
The agreement only allows GCTK to sell 30,000 shares per day to 6th.
Another important note. The 20 million shares being authorized, is not necessarily the number of shares being sold. The correct way to think about it would be
$20 million worth of shares. If the stock price averaged
$6.50 for the entirety of the sale agreement, a little over 3 million shares would be issued.
While this is dilution, I do not think it’s nearly as impactful as some of these Bears would have you believe, particularly if some positive news moves our share price higher in the coming months.
This is just my interpretation of the filings, someone please feel free to correct me if I am wrong.
