WENR Corp. (WNRC)

[Farrago]

I had some time and decided to try to give Dan a call today. I don't think any of this is new information, but for those of you like me that like to hear something (even if it's the same thing) every once in a while just to confirm as much as possible that things are moving in the right direction. Here's a summary. I was typing while he talked, so most of this is exact quotes with some additions for context.

- In response to how things are going in Elko: "Things are moving along. Building out the system is based on revenue."

- Other projects: "Trying to work on a merger with another group. That process has been bogged down. No new updates as to how they're progressing. I met with them a few weeks ago before I left town, they indicated that they had to resubmit their filing and it would take an additional 30 days to resubmit." (That filing is what has already been discussed on this board - approval from the SEC to go forward with this merger.

"They would purchase the systems (WNRC's assets) with stock, that stock would be distributed to shareholders."
"That stock would be in the new company on a higher exchange." "We can't raise money here on the pink sheets."
"We started this discussion way back in September. My understanding is that it's moving forward, but we're not the ones filing and we didn't hire the attorneys, so I don't have visibility on it."

That's about it. He said he couldn't really provide much more of an update than that or any estimate of timeline b/c, as he said, he doesn't have visibility on the process. He finished by saying.

"My understanding is that it's moving forward."

So again, nothing new but you can at least put a new timestamp on the old update so to speak. He had to take another call in the middle of the phone call and I knew he needed to return that call, so I didn't ask many followup questions, but maybe someone else will feel like giving him a call sometime and asking stuff like:

- are their prospective terms for the merger discussed already? If so, what do those look like?
- buyout price? stock option?
- is he staying on board to run the new company?
- etc