Windfall Geotek Inc (WINKF)

[shiva770]

I'm a US investor who got burned investing in $WINKF Windfall Geotek on the OTC, and the situation is infuriating. On CEO.CA, @Goldhunter14v2.0, aka Brent Anderson (self disclosed), is stirring suspicion. It appears that Anderson is asserting continuous communication with Dinesh, the Chairman of the board, although there are contrasting claims that the company neglects emails and calls from others. In a June 1, 2023 press release, Anderson seems to function as a de facto promoter for the company, reiterating public disclosures made by the chairman. Notably, Anderson has gone so far as to publicly disclose his phone number, encouraging shareholders to contact him.
https://www.thenewswire.com/press-releases/1k98Fvy5Z-brent-anderson-news-release.html
Anderson seems to be running an election campaign for the management team and engaging in ballot soliciting. With an upcoming AGM on December 20, investors deserve answers about this questionable relationship with Anderson. He openly posts and has identified himself. His posts are linked here https://ceo.ca/win?filters[name]=@goldhunter14v2.0

I'm perplexed by the apparent contentment of an investor, holding over 15 million shares in a company that seems like a pump-and-dump scheme since 2021. Despite being significantly underwater, this investor remains upbeat. The current Chairman, in charge since 2019, has overseen a severe decline in both the company's stock and business. Financials show a substantial loss in revenue, soaring expenses, and a depleted treasury.

Curiously, $WINKF reported a staggering increase in travel and promo expenses, jumping from $94,000 to $1.4 million in the 2021/2022 financial year. Strangely, there's no disclosure of marketing contracts in news releases, as mandated by the TSXV. The company's actions raise suspicions, especially considering the Chairman's apparent election-style campaign, with Brent Anderson resembling a PR person benefiting from increased spending. Could kickbacks or undisclosed payments be at play?

The TSXV defines a promoter as:

“Promoter” describes Individuals undertaking these activities. Promoters in the Exchange’s venture capital market generally fulfill one or both of the following functions:
(a) communicating with investment dealers, advisers and Shareholders - both current and prospective - to increase awareness of and interest in the Issuer (the “promotional role”); and
(b) maintenance of an orderly market in the Issuer’s securities (the “market-place role”).

How can investors access information on individual votes cast by shareholders for items on the AGM list, particularly in identifying whether Anderson supported management or the chairman? Is there transparency regarding potential conflicts of interest for Anderson, given his promotional role and voting for management? Has management provided a comprehensive disclosure of both direct and indirect beneficial ownership of all shares? Additionally, are there regulations governing whether management can utilize these shares to vote in favor of themselves?

Questions for AGM:

1. What led to the Draganfly partnership, and what prompted Windfall Geotek to provide a $1 million service guarantee, with an initial upfront funding of $500,000, despite the absence of flight service contracts for over two years? Was this financial arrangement approved by the TSXV or the board? Additionally, how was the money transferred to Draganfly, and what actions has Draganfly taken with the funds, given Windfall Geotek's lack of flight service contracts during this period?
https://www.globenewswire.com/en/news-release/2021/03/23/2197786/0/en/Draganfly-Secures-One-Million-Dollar-Flight-Services-Contract.html
2. Why hasn't Windfall Geotek collaborated with Draganfly on U.S. government contracts, and is the lack of updates related to possible issues with background checks for the company or its directors? Additionally, is there any indication that Draganfly is utilizing Windfall Geotek's patents or proprietary technology without compensating Windfall Geotek?
3. Where or how did Windfall Geotek report any funds given to Draganfly in its yearly financial statements?
4. Why was there a $1.4 million Travel & Promotion expense reported in the company's 2021 financials but no disclosure of marketing contracts, as mandated by the TSXV stock exchange in a required news release?
5. Is Brent Anderson more than a 10% shareholder and also a promoter?
6. Is Brent Anderson an official spokesperson for company, management or the chairman?
7. Is Brent Anderson de facto running an election campaign for management & soliciting votes for them. Has the company disclosed his role & is he being compensated for this?
8. Is Colonel Stephen Appleton still with the company, and why is he in the slide deck but not listed on the website?
9. Why were significant pay increases approved for the CTO/President despite underperformance and revenue loss? Did the board approve this?

The questionable relationship between Anderson and the Chairman, along with the Chairman's apparent campaign-style approach, raises suspicions regarding potential kickbacks or undisclosed payments. The lack of transparency surrounding these matters demands urgent clarification and transparency from the company's leadership. As an investor seeking accountability and integrity, I believe it is crucial for Windfall Geotek to address these concerns promptly and comprehensively to restore investor confidence.