The hope is they file by next Monday but that may
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Posted On: 02/04/2017 9:59:58 AM
Re: StevenRisk #272
The hope is they file by next Monday but that may not be reality. With Q1 due the following week and results that will have revenue surpassing all of fiscal year end 9/30/16 waiting may be the better alternative. With Q4 and year end totaling $600K with a huge loss this would probably result in the PPS dropping. Also the convertible note holders are probably wanting to dump shares and currently unable to due to the late filing. Their conversions are based on the last 20 trading days so IMO it would be advantageous to hold off filing until Q1 can be filed simultaneous or as close as possible. With Q1 showing a new direction financially for the company we have definitely hope that we are now cash flow positive with net income becoming a reality this fiscal year.
My guess and it is only a guess is that WW is quickly becoming aware of the consequences of toxic financing and that will become a thing of the past. Preferred shares are not the culprit. The culprit is needing money and borrowing from Tagliar and others with notes for 55-72% discount. This is nothing short of loan sharks as the stock is give away virtually as 55-72% off.Example if stock is selling for .01 these note holders are able to convert the notes for .0045 and as low as .0028 pe share. Now do the math and certainly WW has and certainly we will be hearing from him shortly in regards to this financing going forward!
My guess and it is only a guess is that WW is quickly becoming aware of the consequences of toxic financing and that will become a thing of the past. Preferred shares are not the culprit. The culprit is needing money and borrowing from Tagliar and others with notes for 55-72% discount. This is nothing short of loan sharks as the stock is give away virtually as 55-72% off.Example if stock is selling for .01 these note holders are able to convert the notes for .0045 and as low as .0028 pe share. Now do the math and certainly WW has and certainly we will be hearing from him shortly in regards to this financing going forward!
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