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Old 10-17-2018, 09:42 PM   #154
bizaro86
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Quote:
Originally Posted by Flacker View Post
Market Cap was ~$5 million, so with an asset worth 20-30 million more than they paid for it the market cap is ~$24 million at the current share price. So yes that is what is causing the massive movement. This is a very small corp.
Not really. They are paying 25 MM shares for the gemstone. At $17 those shares are worth $374 MM, plus the other outstanding shares puts it well over $400 MM.

It doesn't seem likely to me that a museum touring gemstone will be worth more than $400 MM. Seems more like low float and people who look at the market cap without adjusting for all the new shares and just think $50MM is more than the current market cap.
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