Robot, I think your analysis is spot on. WUC is in survival mode. Look at Fryer's recent consulting agreement. If he doesn't raise half a million dollars by June 30, Glasier intends to cancel his agreement. The actual language is brutal:
"The Consultant will provide the following Services to Western:
Support the CEO in the capital raising process as a primary function when Western is engaging in a placement offering. Western is currently engaged in a private placement and unless Consultant personally identifies and secures US$500,000.00 before the end of the term of this Agreement, it is not the intent to continue this Agreement beyond the Initial Term. Consultant is being engaged primarily to raise capital for Western. All other services are secondary and will be performed only after substantial efforts have been rendered with regards to the capital raise."
https://www.sec.gov/Archives/edgar/data/1621906/000121390017005221/f10q0317ex10iii_western.htm
- Forums
- ASX - By Stock
- BLR
- WUC for sale
WUC for sale, page-5
-
- There are more pages in this discussion • 15 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BLR (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
SBW
SHEKEL BRAINWEIGH LTD
Dani Nadri, Country Manager Australia
Dani Nadri
Country Manager Australia
SPONSORED BY The Market Online