Something stinks really bad. As a retail holder without inside knowledge, I can't put my finger on what's going on, but I think we've been taken for a ride.
First, the company gets run into the ground. The CEO buys the only part of the company (DCF) that is actually bringing in revenue, albeit at a loss. He doesn't have to pay anything in the short term. His wife is still COO and WOA continues to honour the debts and prop up DCF with transitional services. Next the board issues three times the number of shares in an emergency cap raise and dilutes it to buggery. For some strange reason, the on-market shares continue to get bought up at 3cents, 50% above the 2c offer price (???).
I don't know what's going on behind the scenes, but it looks to me like someone could take over WOA on a pre-arranged agreement. I could speculate that maybe someone like Saputo wanted to take over and have majority control, but wasn't interested in DCF or any notion of regenerative farming, so the board helped their friends out by stripping that out of WOA first to save their pet project. It's obvious Maslin, Cole, Albany, Stamps all share the same idealistic outlook.
The conflict of interests are staggering and the whole mess needs to be investigated.
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