Management did state that they were reviewing the need to raise more funds - to wit:
8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: The Company is reviewing its current forecast to determine whether further cash needs to be raised.
I read into those words that a CR was a definite possibility. I do not like CRs because they dilute the value of shares, and in the absence of a screamingly good reason (the opportunity cost of delay, for one), I hoped there would not be a CR, and WAK would expand when it had generated the funds required, or borrowed funds. The funds to proceed with Stage 2 should not be large (maybe about $15 million), because $3.66 million has been spent already. Also, Management had stated months ago that a decision to proceed with Stage 2 would occur in late calendar year 2022, which is about now.
WAK Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
