HiThird Eye,Youraise some “thought provoking” questions as to...

HiThird Eye,

Youraise some “thought provoking” questions as to what may happen to WFL which allshareholders should consider. If you look at the way the shareholder base isforming the retail shareholders are becoming a minority group as each CR isconducted, if you look at the last CR [~Oct 2022] shareholders were led to believethat it would be open to retail investors but reality was that it was only opento sophisticated investors and added another approx 106 million shares to theregistry plus attaching options thus diluting retail sh’s further. Now severalmonths later you are advised of an opportunity to merger with a company inadministration, approx $2.7million in debt and list on the German disallowed and also for this privilege give away approx 18% of the company,further diluting retail sh’s. What has been announced so far by the company forthe next CR it appears to be only open to sophisticated investors which wouldadd further dilution to retail investors to the point that if a decision wererequired by a vote then you must ask yourselves “what is your vote worth”…..andhow much say do you have in a company in which you are invested. Also rememberthat KJM Security divested themselves of 11,964,881 shares [29.11.2022] so thequestion is – who was the buyer/s.

Yourthoughts on being acquired by Integrated Wellness Acquisition Corp after themerger with TBB does raise the possibility of this happening as it may wellfall under the SPAC conditions for acquisition but would require sh approvalfor the acquisition to go ahead but also would mean that the company may de-listfrom the ASX and is taken overseas, if this were to happen where does it leavethe retail shareholders ?

Laterthis month [Jan 2023] you will vote on the merger but as yet the financialshaven’t been disclosed to sh’s, as TBB is not financial as an entity in it’sself and WFL is far from being financial the next CR would only last 3-4 monthswith further CR to be conducted and as indicated by Management to list on theGerman stock exchange, what is the cost to do this when even as a “merged”entity they are far from being financial.

LastCR was Oct 2022 and raised approx $2.3 million before costs and as of 23^rdDec, 2022 they only had $86,646.00 in the bank plus now have issued a ConvertibleLoan for $100,000.00 and again have borrowed approx $220,000.00 from Directorsto carry the company through until the CR and start the cycle again, althoughif true to form these loans may be redeemed via shares in the upcoming CR.

Alsointeresting to note is that the vote is 6 days before the qtrly is released andif there is a “seasonal variance” as was stated for the last qtrly then thismay also be a consideration when voting, but, the vote is before the qtrly unfortunately…..