Just an opinion but history suggests we are about to see once again this micro cap operating on very shaky ground.
Not sure what the touted move interstate is all about, no detail..
But you can rest assured that if another “group” of “experts” is to get their tentacles over the company they will want a company restructure
Rebrand the company, consolidate the share registry, making current shareholders value virtually worthless - take the technology developments add some more fancy ideas, set up MOU’s with various organisations and do it all again to their advantage. Raise another bucket of cash - Set themselves up with massive free share incentive packages on low achievement criteria - a rinse repeat all over again.
It’s looking like a the 3,000,000 cap raising has brought out those “entrepreneurs “ that can sniff an opportunity to see the company debt paid off , run the cash down, and then swoop on the carcass.
The first two years have been so badly managed, a group of university students using the exercise as project would have achieved better results with integrity
The people involved over the last 2 years using millions of dollars of shareholder funds have failed to deliver any shareholder value or indicate that moving forward there is any light at the end of the tunnel.
Two years ago “they” promised so much - now its about survival......
As a shareholder I now watch and wait for the time when “they” treat all shareholders as those that have given them the opportunity to build a commercial viable operation - not pi.. the cash up against the wall and walk away.
It is not only a defining moment for the company, its a defining time for Smith, Wild and Walker.
WGL Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
