(Also sent directly to the mgmt. and posted to WCN's facebook site)
An Open Letter to the Management -
I am writing on behalf of a group of WCN shareholders, united in alarm at the apparent lack of accountability displayed by the WCN Management to its current financial situation. We have started as a small group but we are rapidly growing in numbers and voting power. The majority of us are smaller investors, as the majority of WCN shareholders are. We have bought into the WCN’s story after reading articles on newspapers, company sponsored broker reviews and social media sites that continue to spruik WCN’s growth potential. We understand the risks involved in investing in speculative mining stocks and that there is no guarantee of success and in fact there is a much greater risk of failure.
Personally, I bought my first WCN shares at $0.015 and have watched the price diluted and sold down to its current point. I have contributed to multiple WCN capital raisings stories that spoke of rapid growth potential. I don’t hold the mgmt. directly responsible for the lack of tangible results that has lead to this incredible drop in my investment. I do, as the others I am sending this email on behalf, expect you to take ownership and accountability for moving the company off its ongoing path of value destruction. We expect you to face the reality of the current market capitalization of 3.5 million and make appropriate changes.
Specifically, we would like to request you to reduce staff costs by a minimum of 25% until such a point that the company has achieved its own revenue source and is not fully dependant on shareholder funded capital raisings. The reduction of staff costs will not only reduce expenses but it will also take a positive step in regaining shareholder trust and credibility in your management and the company.
We look forward to your response on this request.
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Last
1.7¢ |
Change
0.000(0.00%) |
Mkt cap ! $27.69M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
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8 | 3438400 | 1.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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1.7¢ | 2710443 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 2770600 | 0.015 |
5 | 3641310 | 0.014 |
16 | 6543590 | 0.013 |
4 | 741300 | 0.012 |
4 | 1780090 | 0.011 |
Price($) | Vol. | No. |
---|---|---|
0.017 | 2710443 | 7 |
0.018 | 4603365 | 13 |
0.019 | 1213234 | 5 |
0.020 | 2178510 | 7 |
0.021 | 2490118 | 7 |
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