Delivered what? An upside down insolvent acquisition? Wellington who was supposed to infuse millions upon millions? Where is it? The company is on a path to default on $11 million in debt in the next 12 months.
Risk of defaulting on $11 million is success? Maybe Wellington will come up with $15 million to pay the bills and provide the $4 million in net shareholder equity to satisfy one of the listing requirements.
After $15 million, there is still no working capital, but that does free up assets to leverage. Then again, management that brought an inverted current ratio will do what? Do it again? What a waste of capital to employ the same mindset to reproduce what got you here in the first place.
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