8 million shares at $.50/ share---sucks! Plus .75 warrant
handled by banker Rodman and Renshaw
Proceeds used for exploration and development of San Luis del Cordero property, the Santa Maria property, or acquisition, exploration and development of other exploration or development properties in Mexico
I'm guessing that Sentient did not want to climb above 50% ownership and thus backed away from this deal.
Now we know why the stock has been so weak since Q1 report. Obviously, Rodman and Renshaw told their shareholders to sell the stock down from $.80 the past few days, knowing they would receive new stock at $.50 w warrant. It is currently trading at $.60, down 3 straight days since several hours after the Q1 was released.
Seems to be the way corrupt bankers operate these days.