Hippo - You are way off on the purchase price for WNTR. You need to stop referencing the price given for the sale of Ludvik. Kristan didn't pay anything for that. It came after he took over and didn't involve any real money. Besides, he gained a ton of shares in the deal, it didn't cost him anything.
How much did Kristan (Ludvik Holdings) pay for WNTR?
4/8/13 - Ludvik bought all Ken Bland's 100m WNTR common shares plus 5m WNTR pfd and Kristan replaced Bland as sole Director, President and Treasurer (Ludvik sale happened on 4/11). As usual, no price details are provided so one is left to piece it together. Based on available information, a reasonable guess is in the hundred thousands, definitely not more than that. Less than $500k makes sense. I can't see any reliable value in the company other than its stock listing. The remote possibility the cell phone technology can be monetized might have some appeal but it's a longshot at best and clearly the listing is #1.
Now it get's long and detailed, but if you want to push back, you have to overcome a lot of inconvenient facts. Consider...
1. Before the reverse meger there was no market for WNTR shares. Not one share sold for over two years. A sale of 400 shares at $0.10 occured on Dec 20, 2010. Last sale before that was on Jul 27, 2010 of 600 shares also for $0.10.
2. During the three years from 2010 through 2012 over 325 million shares were distributed as "compensation for services" at par of $0.001 for an estimated value of $325,410.
3. From 2009 through 2012 the company had $0 in sales and negative earnings. Minimal sales in 2007 when Bland started with the co., and 2008 is unreported while it appears they were exiting the ISP business and embarking on the BEACON project. Accumulated defict on the 2012 annual is $4.4 million.
4. 2012 annual lists -$151.00 of assets against $357,131 of liabilities.
5. For three years prior to 2012 the company listed Patents as an asset, valued at $171,675 in 2011. The asset is eliminated from the 2012 report. No reason is given. It was also conveniently eliminated from the prior year comparison on the balance sheet.
The company had no history of sales, no clear prospects for future sales, negative assets, outstanding debts, negative equity, no cash, and intellectual property which the company itself valued at $0. Not worth a lot of money. Definitely not woth the $21,000,000 you keep quoting.
Finally, the sale of Ludvik Holdings for $21,062,587 is simply the amount Kristan's accountant gave to the company's assets at the end of 2012. One would need more information about the individual investments listed to test the truth of that number but serious doubts have already been raised about one of them, Avenger Boats.
The sale terms included 154.1 million common shares plus 250k Pfd A shares. Supposedly $650k cash less $325k loan payable by Ludvik changed hands but it looks like WNTR had no cash at the time so it's not clear what that's about. Also, the numbers don't completely add up. According to the LOI, $21,062,587 sale price = $15,412,587 in stock + $650,000 in cash. Was more stock issued later? Who knows.
So WNTR, controlled by Frank Kristan, bought Ludvik Holdings, solely owned by Frank Kristan, for WNTR stock that only will benefit Frank Kristan. In the end Frank Kristan owns over 254m WNTR common and 5.25m pfd shares for which he paid very, very little. Whether or not he's selling now, he clearly doesn't need to wait for the price to hit $0.20 to make money. It doesn't even need to go over a penny.
Trust Frank all you want. But look more closely at the facts.
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