My prediction for next mandatory report = more terrible news, ofc.
My revised/new prediction for the next CR: I think they'll try for another CR (the usual idiots are always willing to hand over more money) and as I said in the other thread, I don't think they can really raise at much more than 0.2c given where the sp is at. I think they'll try to issue another 200 million shares (increasing shares outstanding from about 400m to about 600m) at 0.2c each. Realistically, I think that's about all they can aim for (and even then I'd be amazed if they could fill it).
The thing is, even if they fill 100% it's still only going to raise them about 400k. To make that figure look meaningful, they're going to have to match the cr with the announcement of MASSIVE cost cutting. To do that, they'll have no choice but to kill off one of the two main product lines.
I always thought lubricen was the more promising product, although the reality is that at this point in time both products have been thoroughly rejected by the market. My suspicion is that given the recent board additions, and PP's history with foreo, lubricen will be the one to have its throat slit. Also, the death of lubricen would kinda be the end of WFL as a jeff edwards company. It's pretty obvious from JE's linkedin posts that he has no love lost for WFL as it stands today. It's very possible the feeling is mutual and PP will be looking to put some distance between the company and its past with JE.
What do you guys think about this? What do you think is more likely? What would you prefer? In all probability it doesn't matter. But they were able to raise 1.5m last time. I think they'll still aim for one more cr.
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