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groins

2,426 Posts.

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05/04/23

11:48

Post #: 67146013
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Originally posted by topher ↑

I have a quick question regarding the recent capital raise that I'm hoping someone smarter than me can answer.

The prospectus for the most recent CR indicated that the raised money would be going towards the TBB integration. Now that is no longer the case, does that cash, already raised, have to be given back to investors? Or can it be 'kept' and used for other things.

To give a hypothetical. Lets say I believed in the TBB takeover and decided to put $50k towards it as per the CR prospectus. Now that the TBB integration is no longer happening, I no longer believe in the company's new direction. And say I wanted my money back. Indeed, I put it in on the understanding/proviso that it would be used in a way I was happy with.

So, assuming WFL actually did raise some capital (who would know, they aren't letting us know anything), here and overseas, do they now need to return the money and perform a new capital raise for the new direction?

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WFL Price at posting: 1.5¢ Sentiment: Hold Disclosure: Held
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