You've now stated the same thing thrice. Your statements remain illogical. How would Simmonds stand to benefit from a delayed PR?
Posted by: sdsun Date: Friday, November 06, 2009 8:18:35 AM
In reply to: None Post # of 1786
NO PRESS AGAIN TODAY- So much for "PR is LINED UP"
Over a week has passed since the court settlement. AN NOTHING FROM CS OR WLSA BUT PROMISES. Deja vu
ITS A RECUREING THEME FOR CRIMINAL SIMMONDS. He will tell you anything you want to here on the phone but can't back it up.
But he sure can take candy from a baby ( MONEY FROM SHAREHOLDERS)
Simmonds has a vested interest in WLSA, through direct ownership of common stock, and indirect ownership as a director of Newlook Industries (majority shareholder). When the price per share appreciates in the market, Simmonds' portfolio benefits - and vice-versa. It is in his best interest to see WLSA's market perform.
The following statement is also false:
I told you he was "giving" this company to his friends for nothing.... HE DID, SOLD MAJORITY STAKE IN A CASH COW BUSINESS TO NEWLOOK FOR $750,000.
The settlement was in the amount of $8.3 Million. Here's a "flow diagram" to help you better understand:
Newlook Industries Issues Cheque Payment ($750,000) ----> Wireless Age records a gain on sale of assets and eliminates outstanding debt ($8,300,000) -----> Wireless Age recognizes increase in shareholders' equity -----> book value per common share increases.
Pursuant to the Settlement Agreement, Wireless Age agreed to pay Wireless Communications and Wireless Source a total of CAD$750,000 to settle outstanding loans totaling approximately CAD$8.3 million provided by Wireless Communications and Wireless Source to the Company. Further details of the Settlement Agreement can be found in the Company's press release dated October 5, 2009.
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