We agree. The wnbd 'dd' is very useful ,,,
mostly, for pinky day-trader-shorters.
But, only after doing statistical DD ,
on the track records of the sources ,
and then back-tracking them ,
to even better short opportunities.
wnbd is one of the best tradable pinks ,
because all of the most important DD Facts
are Never Available. Specifically, 'revenues' ,
and 'share-structure' .
And , most importantly , the CEO won't tell anyone
anything about the 'convertibility' of his 'Preferreds' ,
or , if they are paying cash 'dividends' to him.
Also , there is No Way To Verify the percentage of wnbd
product sales that actually ever gets to wnbd. After all ,
we all know that wnbd uses 'suppliers' (like SureFil)
to produce All Of the wnbd stuff that is ever sold.
Basic , no-tech , highly competitive products , like soap ,
Always generate very low profits , as a percentage of total
retail sales. And , in wnbd's case , every step in the
supply chain collects All of their profits BEFORE wnbd.
Which includes Retailers + Distributers + Manufacturers ,
and maybe many more (like commission-paid outside salesmen).
IOO , wnbd would be lucky to get 5% of total retail sales.
And then , they have to pay all of their corporate overhead
expenses + salaries + accountants + lawyers + loan-Interest ,
and maybe even a load of 'Preferred Dividends'. That's
probably why wnbd must sell ~$20 Million (retail purchases) ,
Before they even hope to be in the middle of their
'self-sustaining phase' . And, the MIDDLE of that 'phase' is
where wnbd will just begin to quit burning cash. And, the
further below the 'Middle' , the faster wnbd burns cash.
extra, Sincerely.
P.S. ; And, after All of the above 'growing pains' , we
pinky day-trader shorters are 99% sure , that the common
'share'holders of wnbd own Less Than 20% of All wnbd
assets + votes. And, the 1 wnbd Insider , who Certainly
UNdilutably Owns 51+% Of All wnbd Votes , can just 'vote'
himself Up to 99+% , anytime he wants to , if it is ever
worth doing.
Averaging-down is profitable, for shorters, only.
