Dont think Bates guaranteed the convertibles. Only the credit line per the 10Q. Also the court case talks specifically about corporate defendant. The plaintiff would have gone to the personal guarantee once note not paid or converted , a lot less costly than a protracted corporate case. Also even if that were the case the court's ruling actually mentions that the usury defense would be more applicable in a personal case vs a corporate case.
Nothing really new there. Prior cases that LG won were structured payments of principal and interest just as mentioned way back in June.
The bottom line remains the same. But ..
In June we had one real option. India coming through...
Now we have India, Haiti, Large investors and investment banks and other contacts made as a result of the CCSA and probably some other things we are not aware of.
They get funded, all this goes away. If They dont the court case doesnt matter.
I also did some research on companies that were suspended including research on the pinned post you so kindly placed at the top.
So lets start there..
There was never any SEC stuff that came out of those hit pieces. Ironically you got the story wrong. Lots of people wrote hit pieces and shorted the stock. Even the guy that bought a ton of shares and paid for the promotion who was not an officer or board member is fine. He actually won a lawsuit against another promoter for using his stuff.
The stock was never suspended. No actions or threatened actions against the company. It was a big nothingburger. The company also came out and made a statement to this effect. And we know for fact nothing came out of it because the stock kept trading.
Second on other suspended tickers..
First reason tickers are suspended are that they really have no business except selling stock and are related to a known person with other suspended tickers.
Second, many tickers have not filed reports for even longer periods of time than WSTI (back to 2012/2013), whereas we were current through 3rd qtr 2015 financials and then the notice of being late filed in spring of 2016.
Lastly as stated on top of the very board where these things are discussed they generally do not suspend tickers when they can contact management etc..
From the top of the very board where people post these things
"The SEC only suspends a delinquent SEC Registrant Filer when the company has not satisfactorily responded to correspondence sent by the SEC to the delinquent Filer, or when the SEC has been unable to contact the company. "
Based on the info I looked at. While anything is always possible for reasons we know or do not know, our risk would be higher come next spring. But by next spring if we do not get funding we would probably be out of the game anyway.
Everything I post is my own opinion and people should always do their own research and due diligence on any company they are looking at
