WFM 0.00% 3.9¢ webfirm group limited


  1. 3,035 Posts.
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    something has kept cropping up in my thoughts.....

    I have raised previously that the Capital Raising to invest in Adslot was a way of getting more cash into the business, as directors knew and was illustrated in the June quarterly that not enough cash was coming into the business.

    While i don't doubt the Adslot raising was on the cards, the ongoing fact that no agreement has been finalised would suggest they went to market a little early to hide cash problems.

    but another theory/speculation

    Clearly the directors put out a long, in depth explanation of where the business is at, the day before they released the Sept quarterly, it was very informative and I wish some other stocks gave that level of info, however:

    - When did the director know they lost the 2 biggest ad feeds?
    Surely it was before 19th Oct as it clearly effected revenue in the previous 3 months, ie: July? August? Why wasn't this announced earlier?

    - Who is buying on the drop to 3 cents?
    Well it could be our former Chairman, who would have known all the details listed in the investor update, as he resigned after the quarter finished.

    So, Barlow could have resigned in the knowledge that the price was going to take a tumble, sit back and get ready to soak up more of the company without having to make any disclosures???

    Not saying this is a bad thing, nor that it has actually happened, just speculation. But if anyone can access the top 20 list, I am tipping Chris Morris would be watching the WFM register closely.

    anyway, if someone has access to a top 20 for August, September and October, would be interesting to look at.
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