I have to agree with you. I've been posting along the same lines. Perhaps we've been taken in by the sales commitments and promised revenue from the off take agreements and haven't been critical enough.
Maybe a time to step back and look at the history. I don't recall anyone commenting about the years it had taken WAK to get this business off the ground. Perhaps it would have been worth asking, if they couldn't get it going with over $45m invested, how will they get it going with only another $18m (the IPO funds).
I'd now like to know a lot more, like what was the original $45m + spent on? The original shareholders have considerable loans on our books. Should we at least know where this money was invested? What are we, as new owners of WAK actually getting for all this debt?
Either the management start engaging more with the other 1400 odd owners or make way for a team that will get sales happening. I'm no longer interested in a "multi generational business". I want to see this perform during my lifetime.
WAK Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
