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Friday, November 01, 2019 2:16:57 PM
First and foremost. WEYL does most business with "associates" and A-Z. There is zero visibility into how related these are to WEYL.
As far as growth in revenue. They had a one time jump last summer when they spun off A-Z. They added about $4M/q to revenue, but at the same time added about $4.5M/q to cost of sales. I.E., they have friends they are selling contract services to at below cost.
WEYL loses money. Even if there "preliminary" results show some pro-forma profit, it will not be there on the audited year end results.
WEYL had 37M shares outstanding on 1/1/2019. Today, 99.6M. Most of these were sold at over a 50% discount to market. Were they also "associates"?
WEYL claims they are building something but talking up A-Z. But they do not own A-Z, and A-Z can dilute them (and the dividend holders) to nothing, as they have done in the past.
And the divi play was a clear flag of a scam. When a company sells stock to the public while saying they are going to force a short squeeze, you should know it is a pure play scam.
Is that enough?
Recent LGIQ News
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