That's FOUR 504's in 34 Days, = $140k,,,
[1 for $50k + 3 for $30k].
Wonder where the cash is going?
Or, if not quite everything is even being 'Filed'.
After all, Nothing really has to be 'Filed' ,
ever , as long as wnbd stays pink , and Non-U.S.
And, Nothing WAS Ever 'Filed' Before 24April2009 ;
[And the SEC Never even cared , and still/maybe doesn't.]
However , the shorters Know that wnbd has been 'borrowing'
for 3+ years ; causing the common float to Multiply by
More than 6X , from ~200 Million , to WAY OVER 1.2 BILLION ;
According to the last CEO 'update' of the common float count;
Which was, 'coincidentally' , JUST BEFORE 'HIRING' THE NEW
IR GUY , AND STARTING THE 'FILING' OF ~WEEKLY wnbd 504's.
And, don't forget, if wnbd gets $30k [as 'Filed'] , and the
lucky lender gets the 50% 'discount' ; then, Mr.Lucky gets an
UNdilutable + toxic $60k 'worth' of convertible-to-commons.
At today's price of wnbd, he's probably disposing them ASAP,
at less than $0.0040 , to Any MM that will still help. [And,
that only gives the MM a 10% profit for his risk of getting
stuck with massively-diluting + declining wnbd commons.]
So, for the 504'er to collect $60k, he must dispose of :
$60,000 / $0.0040 = 15,000,000 Brand New wnbd commons ;
and, twice as many, when wnbd sinks by 50%.
And , [IOO] , this Must Continue , on Average , every Week ,
for at least 5 more years , until the middle of "Phase #4" .
extra , Sincerely .
By the way ; The Four 504's for the last month show that
wnbd got $140,000 ; which is an average rate of ~$1,500,000
per year ; which is Not enough to even cover the salaries
of the 6 wnbd 'execs' + the 4+ 'admins' , including their
payroll taxes + 'fringe benefits' + overhead 'expenses'.
[NOT EVEN COUNTING ANY PAYMENTS TO OUTSIDE CONTRACTORS ,
which is The Main 'strategy' of wnbd 'cost control' .]
So, the 504's Can't Possibly Be The ONLY wnbd 'loans' , even
at the current rate of 'Filing'. [IOO , they are just the
very-recently first-exposed tip of a 3+ year old , and always
growing + diluting winberg.]
And, they Can't Possibly slow down , until wnbd quits losing
money ; which [IOO] is at least 5 years downstream ; based on
the 'Facts' published in the CEO's "6 Phase Business Plan".
The wnbd CEO expects/hopes to start to quit losing money
in 'the middle of Phase #4' ; which he defines as when wnbd
has 'sales' of $5M-$50M ; which puts 'the middle' at $27+M.
But, the wnbd CEO Also Admits that wnbd is still stuck in
"Phase #1" [and has been, for 3+ years] ; And he defines
"Phase #1" as LESS THAN $1,000,000 OF ANNUAL SALES.
Which is surprising, since wnbd is supposedly selling in the
Canadian big boxes , and ~5000 'locations' , worldwide. If
that is actually true , wnbd will still be losing money ,
even if it starts selling in the U.S. big boxes. Because,
the U.S. is Only 10X bigger than Canada ; but wnbd will still
lose money until its sales are 30X bigger. By the way, if
wnbd is Already in 5000 stores; then, the Average store is
ONLY selling LESS THAN $200 PER YEAR. That's Less Than 2 cans
per month of wnbd soap falling off of every shelf, worldwide.
[Which implies, that most stores will hardly ever re-order;
which explains why the Canadian big-boxes are in no rush to
stick wnbd stuff on Any U.S. shelf, based on their try-outs.]
Finally , regarding the slowes 'roll-out' ; which is now ~3
months old , and still Not 1 soap bottle has been stuck on
any lowest shelf ; and the 'plan' is only to maybe/someday
try it out in Only 1 rural store , across a river , from
WEST Virginia. And, THEY DON'T EVEN NEED TO MAKE ANY ROOM ,
ON ANY SHELF , BECAUSE wnbd 'PLANS' TO SUPPLY THEIR OWN
PRE-ASSEMBLED AISLE-BLOCKING SHOPPING KART KITS. [That
are NOT EVEN COLLAPSIBLE FOR SHIPPING. And, they even think
that's a 'good idea'. That they were the very first to think
up. It IS a Great Idea for whoever gets paid by wnbd for
shipping the uncollapsible empty karts.]
Just for fun [for us Physicists], we Google-mapped the route
from wnbd HQ to Stueubenlowes. It's 281 duck-miles, but 394
truck-miles [through Buffalo], for a rolling time of about
6.58 hours at 60 mph. But, so far, it has been over 80 days
for the first wnbd soap push-kart to roll over from Barrie to
Stubie. That's less than 5 miles per day. The average guy
can walk 3 mph , but maybe just 2.5 mph if he's pushing a
wnbd kart-full-of-soap , for 2 hours per day. So, he should
be getting there any day now. If he gets the usual daily rate
for Teamsters, that could explain why he rolls so slowesly.
