Hello & Welcome
I'll try to answer without trying to discredit others as that's just really a weakness for inability to address the situation your asking about.
WNBD is a cleaning company that has been around about 30 years under different names/Corporations. In all this time it has managed approx 425,000 in annual sales. It has high liabilities with high interest loans, little to no cash flow. It's CEO, Eric Lehner, in my opinion is a lot of hype/fluff with presenting misleading information. This however is OTC. Its my opinion the CEO is dishonest at times.
Eric announced in April, 2021, he was negotiating to purchase assets from a Tech company that became known as the acquisition. Later on, it was revealed the name of the company was GestureTek. Eric in my opinion wrote a very confusing description of the financial status of this acquisition. As a result I decided to search the Canadian Government Bankruptcy records and discovered GestureTek was petitioned into bankruptcy in 2019. I feel this is playing an important role in the current status.
Eric had pitched, hyped great things from this acquisition but none has materialized. I was concerned about the acquisition from day one, perhaps the only one, but now many are. Because it suffered a bankruptcy and it's smaller company GestureTek Health Inc that did not, but needed to be rescued as Eric wrote, it brings little sales to the table now, but it has expenses, operational ones. Eric himself states costs are higher than sales.
GestureTek has to restart and requires much funding. WNBD in it's first financial report with GestureTek went from a net profit of $66,000 to a net loss of $61,000, and made new fresh loans in 2022 of $835,000. Eric announce a Metaverse project. That pipe dream is not even talked about. Eric announced a grocery chain subscription ad project with GT technology. Nothing, not one unit sold. He announced that in Sept, 2022. He announced a new alliance in Jan, 2023, nothing. He had some wine CBD project that he hyped as big revenue, not a penny has come. There is no capital for these projects, exclude the wine which is a separate entity, not part of WNBD.
People now who were saying how great it was, now say you need patience. Tune has much changed. Everything has changed. Stock price has plummeted to 0.0001. Eric spend much money on a Reg A offering that finally got approved on Dec 29th, 2022. He recently announced he was ending it. He did. The offering was at 0.000.3, unattractive. It was a focal point of his financial plan he announced in Nov, 2022 that he was going to reduced debt, including to investor loans with it.
There is reason to suspect R/S might be in the works.
Acquisitions are not inherently good or bad. Why acquire a tech one if your in the cleaning business. Why acquire one if you don't have the proper funding in place. Now there is a risk of collapse if cash infusion does not materialize. Yes only my opinion.
Be advised because someone wishes not to disclose his position, his vested interest or not, does not mean he does have a vested interest as one might suggest, or is biased. One can have a vested interest and just call it the way he/she sees it, even if it does not look good for their own vested interest. I see no value/point in fooling yourself.
There is so much more. Have anything you want me to further touch on let me know.
