RE: Hot property!17 Sep 2014 14:41
I thought about posting this on the general BB, then I almost deleted it as I do with most of my posting attempts (I actually find writing things down in responses to posts quite helpful in my getting to understand different companies, I then delete it instead of posting, lol), but in the end I thought I’d stick it here as it seems only a few use this part of the LSE site ……… so hopefully a little less controversial
The post today from dingdong suggesting I’m bashing to try and gain a better entry sums up why I don’t post much because the more time passes the more cynical I become and I could post a negative backed up with something in the public domain for just about anything positive posted here, but I don’t because I can see they would be interpreted as “wanting to get a better price” and I realise some of you have a lot of money in WSG
If as some say the general BB is a gateway to new investors, then surely an alternative view based on the facts to hand should be welcomed! but as always a negative view is seen as coming with an ulterior motive.
There are many posts pointing out what’s at the end of the rainbow, but until they get there I’m expecting more of the same and the more time passes the more diluted the holdings become …… over 18m shares have been issued in the last two years!
A genuine recurring revenue contract lands along the lines of the much hyped EA contract and of course my views would start to change, but one hasn’t landed yet and the Ferry MOU is a start up and they haven’t said how much it will cost or where the money will come from so still unanswered questions on that one
Anyway …… some of my issues!, lol
Why can’t they convert the growing pipeline?
Why have the Directors been content in diluting their joint holdings from well over 60% on listing to around 18% now? …… doesn’t strike me as confident!
How can they say they have enough cash in the going concern statements based on negative scenarios playing out in the last two F/Y statements, then have to go on and raise substantial sums to survive?
How can they pay around £825k for a business which went on to grow revenues from £787k in 2011 to £1.6m in 2012 before they sold it in early 2013 to “management” for £200k?!!!! ……. they sold a growing business for way less than they paid for it to insiders!!
How much of the £4m loaned to subsidiaries over the last two years goes to the “unnamed” subsidiary that contributes no revenue of it’s own of which WSG owned 40% in 2012 and then went on to take another 9% in 2013 for a total 49%?
Who owns the other 51% of the unnamed subsidiary that contributes no revenue?
Some of my concerns! and right now I see WSG the same as an oily …… pure punt on them landing the one!
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