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Thursday, March 14, 2013 10:19:06 AM
The hunt for WNBD financing should have started over 3 years ago. From the 1st day of dilution the CEO knew there was an end to this type of financing. Over time he should have evaluated his plan to see where they were headed or what goals in this case that wern't being met. An adjustment in the plan should have happened and his efforts to secure some type of financing should have been in high gear...thats what a CEO is responsible for and thats to see that those dollars are secured for operational dollars to see the plan through to revenues. Instead...were at the 11th hour in the desperate hunt for cash and a business plan that never adjusted to meet goals and objectives. The horse is out of the barn now and now its chaos without money. Who on earth can execute a failed plan or any plan without cash. If this company is to survive it needs...new plan..new cash...new mngmnt....and a new set of shareholders or go private. Those are the alternatives that I can clearly see.
All JMO based on the financials, cash burn, chill, maxed out dilution and unrealized blog content benefits to the heath of WNBD.
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