This prospectus relates to the offer and sale of up to 1,127,392,046 shares of our common stock by Dutchess Opportunity Fund, II, LP (“
Dutchess ”), which Dutchess has agreed to purchase from us pursuant to an investment agreement (“ Investment Agreement ”), dated as of December
9, 2013 between our company and Dutchess. Subject to the terms and conditions of the Investment Agreement, we have the right, but not the
obligation, to “put,” or require Dutchess to purchase up to $10 million worth of our shares of common stock during a 36 month period commencing
on the date upon which a Notice of Effectiveness is issued by the Securities and Exchange Commission with respect to this registration statement.
This arrangement is sometimes referred to as an “ Equity Line .”
We will not receive any of the proceeds from Dutchess’ sale of these shares. However, we will receive proceeds from our initial sale of
these shares to Dutchess pursuant to the Investment Agreement. We will sell these shares to Dutchess at a price equal to 95% of the lowest daily
volume weighted average price (“ VWAP ”), of our common stock during the five (5) consecutive trading day period beginning on the date of
delivery of the put notice. We have the right to withdraw all or any portion of any put before the closing, subject to certain limitations set forth in the
Investment Agreement.
Dutchess may sell these shares from time to time in regular brokerage transactions, in transactions directly with market makers or in
privately negotiated transactions. For additional information on the methods of sale that may be used by Dutchess, see the section entitled “Plan of
Distribution” on page 22. We will bear the costs relating to the registration of these shares, but we will not pay any of the selling commissions,
brokerage fees or related expenses.
Our common stock is currently quoted on the OTCQB under the symbol “WRIT”. The closing price of our common stock on November 29,
2013 was $0.0003 per share.
