I don't believe UNAUDITED financials should be trusted 100%. I believe they can be used as a glimpse in to things. I would never say WNBD fins are not honest. I don't know that for a fact. I do know that the picture painted by the company never seems to show up in financial gains.
It's an interesting mix of information, non-information and dreams.
For the most part I agree...the financials are so awful I do believe that the CEO is being straight up...its the details that would prove worth reading though...the money flow on an audit is where I feel the devil in the details lives. I also agree...his problems would be compounded if the financials were to fluffed and then comes the R/S.
Make no mistake..I don't applaud the CEO for what appears on the surface as trust worthy because its the right and proper thing to do . Also despite it all...his cash predicament has him left with few options and restructuring looks to be that obvious choice.
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