Yes, I understand, that they don't need any more cash for operational purposes.
However, they didn't need any more cash before last raising either, but chose to accept it to "accelerate the development".
There are only two ways new investors can become shareholders:
1. Buy shares on market from someone willing to sell. The register is very tight at the moment with people holding on. And the volumes that institutional investors usually want to buy far exceed our weekly trading volumes. If they were to buy on market the price would sky-rocket, and no one likes overpaying especially instos.
2. Second option is to approach the company to issue more shares at pre-agreed price. There is a cap of 15% per annum. If they drag it into new year, it would allow them to raise about 50-70mln based on current market cap. All hypothetical of course, but there is no other way on get on the register without the capital raise if no one is selling.
WBT Price at posting:
$2.92 Sentiment: Buy Disclosure: Held
