Again serious concerns are there as to WFL’s viability when the...

Again serious concerns are there as to WFL’s viability when the financials tell the story, revenue for the qtr was only $56k which is way down on previous qtr’s and yet the company states that they expect revenue to grow but it is actually doing the opposite. They are still continuing to borrow money from Director’s and while doing this the loan facilities is also continuing to grow and if I have interpreted this correctly bearing in mind that I am not an accountant, this is money that they still owe. Proceeds from borrowings increased to $816k.

Revenue for the qtr was $56k

In the previous qtr the loan facilities was $315k while this qtr it is now $845k

Proceeds from borrowings this qtr was $816k while previous qtr was $276k

From previous qtr

8.6

If item 8.5 is less than 2 quarters, please provide answers to the following questions:

8.6.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?

Answer: The Company expects receipts from customers to continue increasing in line with trends in this quarter while maintaining control over cash outflows. The Company does however expect net cash outflows for the foreseeable future as it implements various planned strategies and cost control measures in order to generate long term positive cash flows.

If their revenue can’t match their operating costs, which is showing a decline, then I feel that more pain is to come.