And a magnificent close trading day of -17.9% to boot . What a...

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Tobyscooter

55 Posts.

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10/10/22

16:48

Post #: 64122619
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Originally posted by zilliqua: ↑

It is so sad we have board management with serious agency flaws. Reward under performance with the woefully low hurdles for perfomance shares. Yes can you believe it performance shares for what ?
PP was paid $903k in 2021 which is 1/8 of the market cap wow that is generous for a failure in financial performance. Anyone can create a lovely company using unlimited funds but at the end of the day you must create shareholder value which has not happened.
This CR was under subscribed as they sort $3m but got $2.3m using loan forgiveness for shares etc.
The options strike was woefully low at 3.3c and all these crazy performance shares paid to an over paid failed executive are woefully low. WFL is not BHP it is a micro cap living off tiny capital and the idea that a single guy pays himself $900k is obscene.
Interesting to see the Sept 30 cash balance in a few weeks. There will be another CR by yrs end and it will be lower than 2.2c. It's utter madness that this company management now want to produce in house and a machine needs to be built and paid for and will not be operational till April 2023. WFL will not exist by then or it will be a write off even shareholders who bought into this CR.
PP has been incompetent imho

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And a magnificent close trading day of -17.9% to boot . What a disgrace this lot is . Just need Paul to resign as Chaiman and down she goes, faster than the Titantic .

WFL Price at posting: 2.3¢ Sentiment: Hold Disclosure: Held
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