Open Letter to Paul Peos

OpenLetter to Paul Peros, CEO of WFL cc The Market Herald
DearMr Peros,
UntilI read the ASX announcements of 10/10/22, I had intended toparticipate in the current capital raising. However, it is clear thatyour personal greed is far from being in the shareholders interests.
1) You lent money to the company. You earned interest on the money. It gave you a claim to assets in the event of the company becoming insolvent. And now you are repaying yourself with shares at below the lowest share price since the consolidation. Not only that, but you are giving yourselves options to purchase shares within 3 years at 3.3 cents, or $0.00165 pre consolidation. Let us compare the experience of you lending $10,000 to the company versus a shareholder who put in $10,000 in the last CR at 5 cents. The shareholder got 200,000 shares, which have lost well over half their value in a matter of a couple of months, and no options. Your $10,000 loan to the company had no such risk, you had interest on it, and even without it, $10,000 is repaid with over 450,000 shares plus 450,000 options to purchase at 3.3 cents.

2) You have decided to pay yourself in arrears. This should have been done at the Share Price prevailing in each pay period. You paid yourself the maximum you could, and then some. You are getting the shares at less than anyone has previously paid since consolidation. You are also gifting yourself options, one per share. For what? Running the company into the ground?

3) You want 5 million performance shares. 1.25 million shares for the SP reaching 3.3 cents within 3 years. 3.3 cents represents two thirds of the last CR price of 5 cents. I have spent $140,000 since 2014 on OBJ/WFL because I believe in the technology. For that I have 500,000 shares. Now you want more than double that number of shares simply to get the Share Price up to 3.3 cents, which still leaves many holders 90% down or more. Iam also not sure that WFL has enough directors to satisfy listingrequirements. It needs a director who can control your personalgreed and respect shareholders' interests.MrPeos, I think you are a cad and a bounder, and I am calling you outfor showing your true colours.YourssincerelyClive“Arthur” Galletly0407173320