WGO (ASX) Ann: Non-Renounceable Entitlement Offer Document

Originally posted by TJ1988 ↑

If the resolution to sell the asset in Uruguay was put forward, no one will pass it. As the main reason share holders bought into the company was for Uruguay campaign. I think share holders need to push for convertible notes in exchange for the money required to complete program as some money is better than no money no matter how bad it is for the star price. Selling to them self’s Uruguay for cheap is illegal and they could go to jail for it they are not stupid. They need to work on finding a partner ASAP whilst this fund raiser is still in the works. I think DC needs to realise this is a speculative company and share holders need to push him to reduce his salary to something realistic that’s in line with a company Wyeth $7 million. He cannot truly expect to derive the salary he service wether by shares or cash from a company worth so little with no income generation.

DC making a public reduction in his salary will show share holders that he cares about the company and needs realised that a realistic salary for a company worth only 7 million needs to be paid to him.

If he does not do this soon I would suggest a motion be passed to kick him out of the company and find a way of stripping him of his shares ASAP. I have seen it done before, I do not know what legal Loop hole was used but the company can vote to pay out his shares at an agreed price by share holders in this case it would be at 0.001c as he was paid to do a job and did not do it so therefore needs to forfeit by way of breach in contract for not competing the task he agreed to do when accepting salary and shares all of the compensation paid to him.

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DC cannot continuously be paid 6% of what the company is worth. He did not find us Uruguay assets nor did he make any contribution since in office for 5 years. All we had is problem after problem and now on the brink of insolvency. I suggest chairman can take over the job and saves a lots of money. Also I say before we give them more money we need to know a clear picture of continuing well2 drilling.I believe they should have negotiated for the drilling company to continue drilling for 3 days with equity. f*, are we still paying for the standby as we speak? I just don’t understand how that idiot DC negotiated with the contractor. Please can we do something???