Ann: Application for quotation of securities - WFL, page-21

I don't think you understand or have thought about how these arrangements work. GEM isn't interested in building an equity stake. They're not interested in our board. The only reason they're in this is to buy newly issued discounted equity and then sell it back to the market, hopefully for a profit. The entire reason GEM has provisos about the amount of cash that WFL can draw down at a time is because they don't want WFL issuing so much equity that it becomes impossible for them (GEM) to sell it without completely tanking the price. That's the sole reason for that proviso. If GEM were actually interested in building up an equity stake, it wouldn't exist. You need to ask yourself some questions:

* Why does the aforementioned proviso (about trading volume and the amount WFL can draw down from the GEM facility) exist?
* If GEM is interested in building up an equity stake, why isn't it also buying on the market? You seem to think GEM might have more information than we do. Why doesn't it act on it?
* If our prospects are so rosy, why aren't PP and JE buying up more equity?
* Do you really believe that AE quit after only a few months on the job because of increased workload at his legal practice?