emperor, Without the required detail those questions cannot be answered by anyone other then WWEI, and i think you know that.
I never mentioned that I knew of actions that I, “would have taken to insure timely progress in the project” I asked: Can anyone defend the actions of management over the last year? (not delivering promised updates, unable to close a single deal, producing bogus fluffy PRs, unable to complete SEC required updates....etc...)
But allow me to provide one example:
WWEI signs a joint venture agreement, knowing full well that they (WWEI) are the minority partner. Next they produce a PR that claims that they have locked in the financing and that as soon as the DD is done the deal will be consummated. Then the DD period of time expires without a word. Meanwhile, on this board, Shareholders start to get worried and make many excuses for the company—nobody, however, was prepared for the truth. When the company finally decides they can no longer hide the facts, they produce another PR that claims that the JV agreement is canceled. The ridiculous part is the reason they give, because now, suddenly being the minority partner was a problem. If they agree to be a minority partner upfront, how in the hell can they use that for a reason to terminate the agreement? Was this a deliberate attempt to manipulate the PPS? Or was it simply just unbelievably bad management? Or was it a failed attempt to close an honest deal? You can decide for yourself!
The bottom line is that the JV deals are suspicious in my opinion. As I’ve stated before, I am quite certain WWEI has the paper trail to support their claims (after all that’s what their lawyer is for). But were they ethical, did they ever intend to execute those deals, or simply use them to inflate the PPS? I don’t know the answer, but I know what it looks like!
If you would like me to list, in detail, the shortcomings of management, I’d be happy to revisit the issues.
