LONG WINDOW POST, but interesting read all the same....IMO anyways . @SpareCash7 post that I have replied to, opened up my memory bank to further research into the time when I was a holder. Striking co-incidence or company incompetence ? Will let you decide....read below.
Be very careful there @SpareCash7 - as history has a tendency to repeat itself. So you are referencing the MOST RECENT quarterly whereby WKT management proclaimed the fact that they are sound, expecting the finance facility and product sales to see it through financially - correct ? That the forward looking statements suggest WKT is ok - correct ? Notice the physical cash on hand figure is $4.123m.....in your posted image above for the March 2024 Quarter - correct ?
I bring to your attention the Quarterly of 29th April, 2022. See screenshot below of statements made in that quarterly;
A few very important points of note; 1) Please note the physical cash on hand at that time was $4.617m. Very similar aren't they ? 2) The forward looking proclamations look eerily similar to the March 2024 Quarterly....8.8.1, 8.8.2 and 8.8.3 ! Don't they ?? 3) CRDB failed - yet the company CLAIMED TO HAVE SECURED CRDB DEBT FUNDING (8.8.2). Read that clause over and over and over again - THE COMPANY HAS SECURED FUNDING !!!!! WKT management wrote that - not me, you or @spid81 - WKT Management. I find this totally misleading, deceptive and inaccurate. The Company failed in its proclamations completely and without dispute ! Anyone willing to challenge me on this?? CRDB failed to fund yet in your March 2024 quarterly @SpareCash7 - they dare make very similar assertations with GEMCORP on an Incremental Loan (research Incremental Loans) and Product Sales. 4) Company went into Voluntary Suspension (Non Financial Suspension) a mere 34 DAYS THEREAFTER the 29th April, 2022 Quarterly. INTO SUSPENSION until 30th November 2022, some 6-7 months after announcing they were financially stable. Rubbish, absolute rubbish, trash talk from management ! How does this happen and how is trust between management and holders still in tact ?? A Shareholder Funded CR was required of which they sought $33m and actually achieved just over $16m (not before WKT Management were pulled up for Pete Fennimore's attempt) to buy related party shares. I believe it was labelled as an "Unintentional Breach "at the time. Lol....it was to save ass....nothing more, nothing less ! Shareholders saved the company - in the face of severe mismanagement. Yet - you still believe....Ok, no worries. Let's continue.
The irony ? WKT are yet again relying on a a loan facility and (at this stage) unknown sales performance as the detail is alarmingly thin. The incremental loan facility of $5mUSD is just that - (which will have financial performance caveats attached - maybe explains why they haven't drawn on it yet as they don't meet the financial criteria) and product sales ! (Why did BMCG pull the $9.3m in funding ? Perhaps they knew the challenges of not being able to sell out rubbish stock having endured it since being involved with WKT - liquidity and lack of interest issues).The product sales will be minimal at this time - WKT Management itself have outlined initial Pilot Orders are expected and Ramp Up is slower than expected. It's not big ticket yet..... I do agree the arguments over 3 trucks or 15 trucks are irrelevant - what's relevant is the Tonnage Amount Sold, the Product Spec/Purity, the Basket price for each transaction and the Cost V Profit ratio.
The similarities did not escape me and the early crow never ends well @SpareCash7. The woods have in no way been cleared yet. Which explains, yet again (broken record stuff, I know) EXACTLY WHY there is zero appreciation nor interest in buying the stock UP - increasing the SP.....It's like an Old Peking Duck hanging in a "China Town" Restaurant window....just sits there looking for someone to pass by and take an interest. After a while, doesn't look so good, so the consumer just keeps moving on by.
And should history indeed repeat itself....which looks extremely likely IMO (with debt repayments due in 3 and a half months) - that CR is sure a coming .
. @SpareCash7 post that I have replied to, opened up my memory bank to further research into the time when I was a holder. Striking co-incidence or company incompetence ? Will let you decide....read below.
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(20min delay)