Hi Sirrobbo,Have you forgotten about the Pareto PR stunt?WKT...

Hi Sirrobbo,

Have you forgotten about the Pareto PR stunt?

WKT raised $5mil (loan @ 14% interest) from 6 shareholders out of WKT T40. the deal came with $8.75mil of options that needed to be converted when WKT secured funding from Pareto = $13.5mil.

I believe the story on HC at the time, these shareholders were provided information under NDA to invest the funds, One retired person make very bold statements along the lines that Pareto had Investors lined up and that was the reasons why he invested his money,

The PR stunt worked pretty well, around 70% of the WKTOA options were exercised, (not all when the SP was above the exercise price) and the funds raised from the option conversion were used to pay interest to the 6 shareholders who provided the loan.

The funniest thing was the company held the $5mil in cash in the companies bank account and did not spend 1 dollar on the Lindi Jumbo Project, (Source companies QTR cashflow reports)
If these shareholders allowed WKT to use the funds to develop the Lindi project, the company might have been able to secure the US$30-40 mil required.

Good luck Sirrobbo WKT still has a long way to go before they secure bank finance.