People can only base their opinions on market releases...
As the last quarterly stated, at the end of June they had $49k in cash! There have been NO announcements to say they have received loans etc. to keep the lights on.
As per the last quarterly WFE had an expected spend on admin and corp for the Sep quarter of $30k which would leave a wopping $19k in cash! For a listed company (in suspension) that is not very much!
WFE had net cash out for operating of $1.25m for the 12 months to 30-Jun-2019. They will have expected cash at the end of Sep of $19k, I think it’s fair to say, they have no money!
If there are “large investors, assuming, pulling up the slack” as beisha suggested, then WFE still has no money of it’s own, just more debt.
I accept that the directors would be “working virtually for free” But I doubt the directors are not being paid as such. I would think they will be on a get paid later deal. An IOU, work now get paid later!
WFE Price at posting:
2.4¢ Sentiment: None Disclosure: Not Held
