Winning Brands Corporation (WNBD)

[satter]

Your right no acquisition this month, that's a given, more like Spring. Though I think there will be an acquisition, your also right he will make it sound good, so good like he is already doing. The problem I have is for me its very misleading or there is lack of disclosure.


All we hear is how this Tech company has over 50 patents, has top quality clients, top industry names, has done up to 10 million in sales in the past, Etc.


What don't hear is how WB with so much debt, no cash flow, was able to acquire such a company, what did they pay for it and how, what is the financial situation of this Tech company, more specifically what debt is it carrying. Remember this Tech company had a financial crisis when its bank withdrew its line of credit and it went into Trusteeship. Eric described it as "excessive" debt that he played down as being from friendly shareholder loans that would never harm the company. Sounds familiar.



"Ironically, the “excessive” debt to asset ratio arose from friendly, foundational, shareholder loans that would never jeopardize the company. But to the bank, it was all about the ratio"