I have assumed Mike's money was being used to buy the shares in his son's account. Undoubtedly, it was intended to stop the sell-off the other day.
Why would anyone want to buy when we now know WKT needs 6 months of cash backing for the loan repayments, which constantly needs to be topped up once the loan repayments start next few months, with the production facility that will most likely be losing significant amounts of money each month, No doubt you understand WKT will need to have around US$6mil ($9.25mil AUD) in cash based on the fully drawn down amount of US$25mil loan or they require to have ~ AUD 6mil for the current loan amount of $25 mil.
Interestingly, you haven't countered my commentary, which indicates you were misleading investors when you claimed WKT had $6.3mil in cash to use on whatever they wanted. It appears these funds are required for the conditions of the loan (Stand by facility)
WKT Price at posting:
12.5¢ Sentiment: None Disclosure: Not Held
