Cash at start = 3000. Receipts = 22000 Payments = 20000 Net cash at end of Quarter = 5000.
So that answers the solvency question - just need an Auditor to sign the going concern clause. Any Partner at Mann Judd willing to take the risk considering the 2018 version was marked with concerns as to their ongoing future?
Page 4 states WFE has used 21k of the loan facility and I need to know what this was spent on. From a transparency perspective, I would have thought the 21k would be brought into the cash flow as a receipt and then used as a payment - that is if the BOD were trying to be transparent. . . $21k is materially larger than the current bank account and as the BOD have chosen to bypass the Cash Flow Ann, its another red flag for me.
House of cards - piece by piece.......
TC.
WFE Price at posting:
2.4¢ Sentiment: Sell Disclosure: Held
