WSI 3.85% 13.5¢ weststar industrial limited

Ann: Alltype receive $15M of new awards and contract expansions, page-48

  1. 7,129 Posts.
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    In regards to Robert, there is plenty of info about him available, detailing invesatigations into Criterion Audit, their auditor used to be known as Regency Audit, as per their own Linkedin: https://au.linkedin.com/company/criterion-audit-pty-ltd

    Last I saw, both companies actually operate out of the same office, the exact same small office building in Western Australia (check out their websites and address, and staff on linkedin.)

    And Philip Re, was the founder of Regency Partners (shares the same logo as Criterion even though the name changed). The guy a non-executive director on a slew of small cap ASX listings.

    They actually only changed the auditor on a lot of companies from the same offices Regency/Criterion works out of to an outfit out of Sydney, only in September last year, after Bert Mondello 'was curiously replaced on the board of another ASX microcap, WestStar Industrial, in September last year, less than 24 hours after Emerge Gaming announced the Miggster divestment."
    But until that point they just used them as their independant auditor, that doesn't seem like their books have been independently audited to me if it's just a mate you share offices with doing it. Does it sound independant to you?

    I could go into a lot more detail, but last time I started posting information on him my post got reported and then other posters started saying I would get done for defamation, so Ill just leave the breadcrumbs above which should be more than enough for you to find out whats happening, if your happy with what your find, inlcuding Australian Financial Review articles, then so be it. In my opinion this is the reason there is a mismatch between the market cap and the 'cash at hand.' And why Im trying to get out of this investment.

    I dont think WSI is not being manipulated, whats your evidence of this? A couple of 1 lot trades? At some point you need to realise its not games played, the stock is simply being sold. Its always the anthem of hotcopper holders whenever the share price is down "its the big boys trying to take your shares" "bots at work" "traders manipulating the stock" with absolutely no knowledge of the mechanics behind it, cant just admit that share price is what it is, there is net selling because the market does not see value in the stock.

    If traders were manipulating the stock to buy, then where is the buying volume? If they wanted to buy there would be net buying not net selling. The stock is has been being sold down since August last year, slowly grinding down, with the odd up day, but its been mainly net selling.

    Hopefully we turn at some point, but really lets be real here, not one buyer thats bought since August last year is in profit, and if the books are saying its already cashflow positive with 28 mill at bank, then whats it going to need to go up? I really think the writing is on the wall here, I would be delighted to be wrong, as I got 500k of these shares I want to offload, but now Im thinking I would be lucky to get out of these at 20cents within the year.
 
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Last
13.5¢
Change
0.005(3.85%)
Mkt cap ! $15.89M
Open High Low Value Volume
13.0¢ 13.5¢ 13.0¢ $19.53K 146.2K

Buyers (Bids)

No. Vol. Price($)
1 119148 13.0¢
 

Sellers (Offers)

Price($) Vol. No.
13.5¢ 4149 1
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Last trade - 16.10pm 28/06/2024 (20 minute delay) ?
WSI (ASX) Chart
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