When it comes to WEGI being a healthy company is were we have our differences > WEGI has $8 million in lawsuits for non payment by its customers, plus another $1.5 million in counter suits, all comes out of about $20 milion in total billing to its customers, WEGI customers are refusing to pay for a large portion of the work performed in the hurricanes. That tells me they are doing something wrong?
Look at A/R end of year, IMO that will need to be restated at some point - profits become losses w/o that 8 million in lawsuits. They are carying the lawsuits monies as A/R, and when they finally admit IT IS NOT COLLECTABLE and add on more attornet bills they wil need to restate some past earnings to past and curent losses IMO
WEGI went thru over $5 million cash for one storm
They currently have NO cash
How can they pay for a BIG Noreaster rain storm? never mind a HURRICANE?
WEGI filed AND SOLD 5 million shares 02/2007
These shares are from LAST Year financing, Laurus will need to sell current holdings and buy more shares for NEW WEGI cash. The major dillution has begun
I agree WEGI DOES HAVE PLAY > Yes it is in hot sector > lots of traders chase stock like this > IMO be careful > WEGI is VERY sick company, dont get caught long when they restate , file, dillute or other something going forward. IMO
