Whilst I tend to agree with you that there's likely more pain to...

Whilst I tend to agree with you that there's likely more pain to come for the markets (judging by the falling asian indices today and the US futures right now), the cash held by WBT (~$100m) is a huge, huge advantage for them, because they won't need to do a CR at these low SP's. There are plenty of other listed companies running low on cash that are facing an awful decision whether to raise funds and cause significant dilution (like my other stocks TLG and BLK) if they can't find funds elsewhere. Then they would be left open to predatory insto buyers scooping up large blocks of very cheap shares. For WBT, given the last two CR's were at $5 and then $3, how good is their decision to do them at those higher prices looking now ? And at the time of those CR's, there were plenty of finger waggers here on HC who predicted those CR's would only end in tears. It has proved to be the exact opposite. I'd say WBT management should be praised to the hilt for their excellent judgement and timing, which now means they have the funds as a bridge towards securing recurring revenue from royalties over the next couple of years.

All IMHO, DYOR