Well Ren, try this out for a dd exercise. Calculate the percentage equity wsgi has now of any forward ltas sales. Better yet, calculate the Hesse's equity. They have been diluted to smitherines. They in essense got THEIR company stolen and are the real victims along with all wsgi stockholders who have been trying to fund this through the nightmare of share dilutions and shareprice that Glenn helped create. All shareholders wanted was to get Ltas to the point of orders, but just prior to NIE completion, all of us suddenly totally lost control of a company for $335k in actual payment, for what essentially is worth $40m today. True that as a group they came up with a total of $2m, but that again diluted our pot. That is why I ask you to do the math on who holds what equity stake. How crazy is that? How is that asset protection? You would have gotten a better deal even in bankruptcy bidding and reorg. You know that!
All that would have helped us secure quality financing was the debt reduction. As I expressed before and some people posted long long ago, that $9m should have been seen to AGES ago. Would have improved our share price too. That was not something miraculous that this funding group brought I assure you. Then being transparent about progress of the company would have helped, as would a ramp of GTC sales. Those are operational and organic and very concrete ways of building valuation and value. We would not even have needed much external funding if GTC had manpower assigned to sell those FRREEEEEE tracking minutes.
Cmon, if you cannot see through the contrived desperation (recognizing all salaries in first quarter), and now the contrived share price to make us believe that the 10beans they exchanged for the company was suddenly worth $10m, then Lord help us! Eventually all valuation would come down to sales. And now wsgi has maybe 5-15% of the true real value. While the Hesse's now only own perhaps only 0.5-1.5% of their company. Yes they get a salary of 150-300k a year and Kevin still has his take through the manufacture of it, but still awful lot to lose by all of Glenn's wheeling and dealing! All IMO of course!!! In my opinion, we have just have witnessed an ugly theft, but it was done in such a complex manner that people are just shocked and still trying to figure it out while we await the next episode of this grand heist unfolding. Lord knows what they put as terms of their next $1m? I am awaiting to see how raw it is, and have people still rejoice or wonder what just happened! This is the present. Not the past. Happening right now.
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