Since the capital raising in July last year:  the Brisbane...

Since the capital raising in July last year:
 the Brisbane pilot plant has been commissioned;
 the Company has succeeded in proving industrial scale up is possible for the technology;
 the development plan and budgets for the upgrade to the Hallmark factory have been completed;
 proppants were sent to US Expert laboratories for testing, and outstanding test results have been received;
 the CEO for the Americas has been appointed; and
 the National and International roadshow has commenced.

Based on the capital raising in 2015, the board is of the view that the average price paid by shareholders for LWP shares was in the order of .08 to 1.1 cents per share.

If LWP shares represented good value for investors at 1.1 cents/share, and LWP has made significant progress since that time, we can see no logical reason why Shareholders are selling.

Given the progress made to date, the directors are of the opinion that the market has not correctly priced the value and potential of the company.

Is the Company in trouble / is everything OK at LWP?

LWP is in a robust financial position, with circa $5.5 million in cash, no debt, and the Brisbane pilot plant fully paid for.
Despite stating during our Roadshow presentation that LWP is not seeking additional capital, two offers of funding have been received.
One offer is for $4 million to be invested over an 18 month period, and another for $10 million to be invested at our call over a 3 year period.
The Company is cognizant of the large number of shares on issue and the dilutionary effect of raising further capital therefore the board is not considering additional funding at this time.
The board is encouraged that despite the volatility in Global sharemarkets, institutional investors and funds are seeking to take a significant position in the Company.

The Australian Tax Office has concluded its audit of LWP. In the 2015 Annual Report, LWP provided for tax of $957,454 for an ongoing dispute with the Australian Tax Office, which has now been resolved.
The financial outcomes are that there will be a write back in the Half Year Accounts of approximately $736,000 to profit. Further, LWP expects to boost its cash position by approximately $1.6 million by receiving its Research & Development claims for the 2013/14 and 2014/15 tax years in this half of the Financial Year with the funds to be taken to account in the 2016 Annual Report.
That $1.6 million has not yet been brought to account in the financial statements, and will not be, until the funds are received. Additionally, LWP will make a further Research & Development claim for the 2015/2016 financial year in due course with expectation that a further $1 million (approximately) will be claimed in the later half of 2016.