Ann: Quarterly Reports, page-64

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09/07/19

19:46

Post #: 39444912
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Originally posted by Cosmoterios: ↑

Have been busy the last few days and didn't see this, until now.Well picked up, btw.

Yes, the key words are:

"Accordingly, the Quarterly Cashflow Report does not reflect the deposit as cash, and will not do so until it is recovered.”

and this quote: "Subsequent to the end of the quarter, the Company has elected notto continue with the acquisition of the Exploration Licenses."

Those who have been involved with these sorts of thing know what I mean.

Elected - means by choice,

Until its recovered - means legal action has commenced or about to commence to recover, and there is no certainty of getting it back.

The biggest problem is: the Money is now in the DRC, which means they will have to hire a local lawyer to go to court, to get a court order compelling them to return the money.

WFE does not have that kind of money at present to engage a lawyer. And even if it does, there is no certainty they will get any or most of the money back, as it was they who "Elected" to break the binding HOA.

This probably explain why this Quarterly has been so late.

AIMHO.

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What concerns me with the us$500k is that it is now buried as a receivable rather than cash will just quietly disappear and be forgotten about.

As a note, I would not expect much to be recovered, it’s sounds like you have also seen this type of thing before?

WFE Price at posting: 2.4¢ Sentiment: None Disclosure: Not Held
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