movement at the station, page-16

plbert,

Thank you for your postings, and in particular the latest regarding the proposed legal action against WDS. To be totally honest, it had escaped my mind, and after reading your post re share price, I concur with your opinion that this is what is holding the share price back at this point in time.

Regarding the proposed legal action, rebel made the point that the company would be insured against such an event.

That is well and good from a $ perspective, but the lingering doubt with current and proposed investors, is how did it happen in the first place! Of course we all know about the GFC and the proposed mining tax and how they have impacted on investor sentiment, but I cannot go past in my opinion, the fact that the management and board were very negligent and indeed very poor in attending to their brief, that is, to manage and protect investment.

In reading your post about the contents of the legal action document, I personally think IMF have thrown a lot of mud, and as the old saying goes, some of it will stick! In my opinion this case will get to a court hearing, the scope of the action against WDS will not allow any other outcome, I just hope the findings will go the way of WDS and that this exercise will highlight just what a poor job the entire management of WDS has done.

My heart felt feelings go out to those investors who bought in when the capital raising was conducted. I am not sure of what the price offered was at the time, but when they sit down and see the s/p languishing where it is currently, there must be a lot of angry, and frustrated investors, demanding some recourse. Of course that is the nature of a gamble, but they gambled on information that was in their opinion, not true.

I guess I can count myself a little lucky, my first entry price was in the high 60c range, and I have continually bought more as the s/p has come down, mainly to average down my entry position, but I am now spent. I will not buy anymore of this stock, and I just hope as I have said before, the s/p will recover