Ann: Investor Webinar Invitation, page-12

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objforever

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28/12/22

18:36

Post #: 65462571
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Originally posted by zilliqua ↑

Yes but sadly on 23 December the cash balance was $86k so the $220k loan funds have largely been chewed up.
Every day this company burns $23k so by now the company is insolvent. Tomorrow we are likely to enter Voluntary Administration. That is why they have allocated 2hrs for the webinar.
PP as a business and financial manager is totally incompetent and reckless as it has been obvious this company could not sustain the massive cost and salaries (his in particular and SS) yet they continued to suck this company dry knowing the revenue wasn't there.
It will not surprise me to learn we did less than $50k is sales for all of december quarter. The Xmas quarter should be the best quarter.
They need to raise money not concocting terrible dilutive non-sensicle mergers with loss making debt ridden companies which are so financially impaired they are themselves in voluntary Admin.
This company has always had a major agency problem and governance problem that has treated shareholder value with utter distain for their own reckless benefit.
I was going to send in questions but why bother they never listened or even read out my questions as they like to cherry pick the questions.
PP will likely run through the merits of the merger and how we have to do this so Capital D then subscribes for $5m in equity on top of their 18% for vending in the worthless TBB business.
All up its a reverse take over that washes debt owed to Capital D into WFL and Capital D effectively controls the majority of WFL up to about potentially 66-80% (depending on cap rasing price say 0.003) wiping out existing shareholders. The PP retains his job and $500k remunuration. He'll be likely given incentive equity in the new diluted shareholder structure.
Thanks SS and PP for a great job of vandalising this company

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They should consider changing the company name to WOEFULLY FKN LOSERS ( WFL) as part of the merger

WFL Price at posting: 1.5¢ Sentiment: Buy Disclosure: Held
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Ann: Investor Webinar Invitation, page-12

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Ann: Investor Webinar Invitation, page-12

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