Let me see if I got this straight
Newlook Industries (NLI) sold a total of 23,132,457 shares of Wireless Age at $0.08 per share.
John Simmonds and Family acquired approximately 5.4 million shares and approximately 13.2 million shares were acquired by twenty three (23) separate investors including Directors, Advisory Board Members and Senior Management, and some of their respective Family Trusts. So that equals 18.6 million shares approximately worth 1,488,000.New Look is a public company with a disastrous balance sheet so without shareholders approval with a non arms length transaction New Look can authorize this. I don't think so. Also was this transaction paid for in cash? If so will the proceeds just go to the creditors? That leaves New Look with its major asset diversified and it what is left is Fanotech a company that according to the last set of statements has not closed. I do not know how you could get a transaction like this through without independent business appraisals and shareholders approval.New Look shareholder should be demanding answers.
