I personally have no problem with the cap raise. We knew one was...

I personally have no problem with the cap raise. We knew one was always coming eventually so if by doing one earlier it gets us to market sooner I'm all for it. I personally would have thought a $6-7 range would have been closer to the mark but if this was the best deal they could get then so be it.
Questions I would like Coby to answer are:

1) Did the board approach the Israeli pension funds again? They have clearly done well out of the previous cap raise so I don't see why they wouldn't be interested in tipping in more. They have been great cornerstone investors who bought in with the intention of holding for at least the next 5 years and don't appear to have sold any. This was clearly of importance to the board at the time as stated in one of Coby's presso's that they deliberately didn't accept funds from some insto's as they were known to be flippers for profit.
This brings me to my next question

2) Why raise through Canaccord who are notorious flippers and will likely keep the SP in the $5-$6 dollar range until they offload all their shares. This flies in the face of the considerations of the previous cap raise.

3) Why wasn't a trading halt called as soon as negotiations for a cap raise had commenced. This is usual practice in every other stock I've been involved in. It's done for the expressed purpose of preventing the blatant insider trading we have witnessed over the past week or so. If the negotiations drag out over a week or so who cares. At least the whole market would be operating with the same information and could make informed decisions accordingly. As it sits, retail investors losses have lined the pockets of those in the know which is akin to theft. If someone hacked your bank account and stole hundreds of thousands of dollars (or millions based on the holdings of some posters) would you just laugh it off and think, "oh well that's just how it works". No, you would be screaming blue murder and demanding your money back and the thieves be locked up. This is no different. Insider trading is a criminal offence and should be treated as such. The fact this "theft" could have been prevented by a trading halt is very disappointing.

I really rate WBT's product and board. I really think they have a bright future which is why I first bought in at 30c and have continued to by all the way up to $6 a month or so ago. I am confident that the SP will recover and will most likely hit ATH again before the end of the year. That said I really think they need to look at their corporate governance on the Australian side of things. We all had a bit of a laugh when the Skywater announcement was accidently released a week early. Whilst embarrassing it didn't really cause any harm because we when into a TH immediately after.

It was also embarrassing when they had to report themselves to the Supreme Court for failing to submit a cleansing notice recently. These things happen, human error etc and again apart from a bit of reputational damage no real harm done.

This latest incident is in another ballpark all together. The failure to call a TH when negotiations were taking place was a big mistake. The failure to call a TH when the sell down was obvious is a blatant breach of their fiduciary duties to their shareholders in my opinion. I don't blame Coby. With the time difference he was probably in bed asleep when this was all happening. Their Australian governance team should have been on top of this and stepped in before the damage was done. I for one hope the board to a comprehensive review of this whole mess and take steps to ensure it never happens again. A presso outlining who knew what when also wouldn't go astray.

Thanks for reading if you got this far. It's a lot cheaper than a therapy session. GLTAH.