We bet that there are 5+ CD's and/or CP's ,,,
CP's = Convertible Preferreds , which are Identical to CD's ,
except the CD's must be 100% paid-off , with All Unpaid
Interest , Before Any Preferred gets 1 penny , in Any BK
or Buy-Out or Merger.
And, guess what 'JPC' specializes in , for its 'clients' ,
INCLUDING wnbd ? Lookie here, quoted from JPC's own website :
" To raise this capital, the transactions are each individually negotiated, but usually have several defining features, such as a discount to forward pricing by the use of a convertible preferred stock or debenture to help protect the investor, and provide a potential return on the capital if the company or their stock does not perform as needed. "
And, wnbd common "stock does not perform as needed" ;
certainly since last May , when the JPC 'Preferreds'
started signing up for their 504 stuff.
By the way. The JPC's HQ [+ only 'office' , like wnbd] is :
" Headquarters
3440 Preston Ridge Road, Suite 600
Alpharetta, GA 30005 "
And ; coincidentally , " Alpharetta, GA " is newly famous ,
after a recent WSJ [as we recall] Article , where that one
place was mentioned as Having More BK Banks per capita ,
than Any Other Place , in the U.S.A. , and [we assume] ,
any place in the World. Quite 'interesting' that the wnbd
CEO had to travel that far last May [right before all of
those Alpharetta 'Banks' became BK's] , just to get a few
of the World's Most Risk-Taking 'Investors'. Looks like it
was great strategic planning for wnbd ; but, maybe not too
good , as it keeps turning out , for those 5 Big Risky Guys.
[And, a few more , right here ; who unvested even more bucks,
and did not even get UNdilutable + Super-Toxic Preferreds.]
Also, from the JPC website, that identifies ONLY 3 'execs' ,
[which is Half As Many as wnbd , now]. Here's our favorite :
" Jimmie N. Carter - Executive Vice President, Chief
Financial Officer and Treasurer " [At least it's not brother
Billy ; although , his Billy Beer was profitable , shortly.]
By the way. When you go to the JPC website , and 'click on'
"COMPLETED DEALS" ; guess who shows up ? [rotfloao]
extra , Sincerely .
P.S. ; Back to the future , which is tomorrow AM , ASAP.
We noticed that even the fanniest wnbd common longs are
mostly less than 95% 'happy' with the wnbd secret strategy ,
and the near-perfection of the wnbd CEO. So, 5% Don't like
the wnbd game. Well, Today's First Piece Of Verified News ,
and the only useful thing wnbd ever filed with the SEC ,
should probably cause an ~5% ASAP sell-off by the overweight
wnbd common longs. And, the current UNrestricted Outsider
wnbd day-trading float is [UNverifiably] at least 973 Million.
So, we expect that 5% of them will try to bail-out , starting
first thing tomorrow. That's ~50 Million extra common wnbd
shares , ready to go , in less than 10 hours. We expect that,
before they are done, in less than 2 days, wnbd will have
broken in half, + keep sinking , as the 96+% happy longs get
a little unhappier.
Suggestion. Anyone who is in a rush to trade , should not
play with the on-liners. Just call a real-live Actual Broker
who can 'move U on up' the waiting list ; and tell you , in
Real Time , how much to lower your price , before it gets
even lower. It really pays to have a Personal Long-Term
Friend as a Broker ; especially in a momo rush , up or down.
Most 'discounts' are expensive , in the Shorters run.
After All , as John Arbuckle used to say :
" You get what you pay for. "
He was referring to coffee in that old advertisement.
But, many of us a playing or paying for a whole-lotta-beans.
Finally, for those longs who think that the can't lose,
because 5 Real Investors 'Risked' ~$150k each . Well , not
quite. They DID NOT BUY COMMON wnbd 'shares'. They Most Likely
would touch Nothing But 'Floorless Toxies' ; either CD's or
Convertible Preferreds , when dealing with a Non-Reporting
and Non-U.S.A. pinky , that has ONLY LOST MONEY , for 3 years ,
so far , with No chance of profiting for At Least 3 more.
[That's why they 'Qualify' , as Real Qualified INVESTORS ,
like us.]
