New 19 range kills COVID19?, page-271

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mattilla

2,216 Posts.

1506

15/04/20

07:49

Post #: 44044507
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Originally posted by Immetoday ↑

For the sake of those poor buggers who have thrown their money at them next big thing’ let’s hope it works out for you.

WNB are basically broke (100k equity)
Have clinics that are a drain hole (albeit closed down now)
‘Were much less than a penny stock before making the current announcement (at this stage it is only an announcement)
‘Don’t have a manufacturer to make the product they are planning on selling
Have a poor name in the business world re paying their bills so manufacturers don’t want to touch them
Have a $3 mil dept maturing in 2 months and no money to pay it. Only current order is $400k worth - won’t go near covering the debt. I’m concerned they will be one of the many business that go under in this crisis.
Have recently undertaken some pretty dubious advertising which it is yet to be seen whether ACCC will take action (I’d suggest today’s ann will be a forced rebrand of the product to remove any ref to covid19)
Are entering a market which countless other companies with their own manufacturing capabilities and money in the bank are joining.

If they pull it off great stuff......but my god they’ve got a lot of hurdles in front of them!

Remember the other companies that have had meteoric rises didn’t have the same challenges in front of them.

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Maybe the suspension was to give them time to think of a new name?

One that doesn’t trick shoppers into thinking this stuff is actually effective against COVID-19.

WNB Price at posting: 1.1¢ Sentiment: Sell Disclosure: Not Held
1 Upvote

0 Great analysis

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