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Canadian Overseas – another day more confetti issued – the death spiral provider is panicking

By Tom Winnifrith | Monday 10 July 2023


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Here we go again. This time 2.447,980 shares have been issued at 6.38p following the conversion of just $200,000 of death spiral bonds. Meanwhile to settle $400,000 of interest liabilities and other sums due to the death spiral providers another 15.090421 million shares have been issued – that would be under the VWAP formula at 2.07p. So that gives a blended issue price of 2.63p.
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