Jul. 1 at 7:29 PM
$SNES Market cap before the most recent exercised warrants was about 1.78 million outstanding shares at share price of about
$5, which is 1/78 x 5 =
$8.9 million market cap. The warrants added about 1.46 million shares, but received about
$4.4 million in cash. Shares outstanding is then 1.78 + 1.46 = 3.24 million share, but shares dropped to
$4.80. So market cap is 3.24 x
$4.8 =
$15.4 million. But
$4.4 of that is the new cash they received from the warrants exercised at
$2.90. Now they issued another approx 1.46million warrants at exercise price of about
$4.15, which would give about
$6MILLION cash when exercised later. Then these additional 1.46 mill would be total outstanding 3.24 + 1.46 = 4.7 mill shares but also give another
$6MILL cash to
$SNES. So you have to decide what is the market cap you think this company should be. If you think it is only about
$15.4mill, then
$15.4/ 4.7 =
$3.27/sh. If you think it is
$20MILL, then
$20/4.7=
$4.25/sh. If
$30MILL, then
$6.38/sh
