Just a short history, FYI.
Just as WTG was readying itself for listing on the TSE big board at the end of December, they completed a private placement of just under 25 million shares for $1 per share. This is after the Russian assets were rolled into the recently acquired shell company. That in itself sounds a little rich, but then again, we don't know who the placee(s) were.
In the first few days of trading, the share price rocketed to the 6 - 7 dollar range. The TSE asked the company why. They issued a "we haven't the foggiest idea" news release (aka Material Change Report). Now we're told by the COO that it is likely a reflection of the brilliance of Finsky and his management that the "public" decided to pile in to this unproven mysterious entity.
The SP has since settled into the 3-5 dollar range with very little volume. Over 94% of the tradable shares (the private placement shares are likely not yet tradable, as mentioned earlier) are controlled by M. Finsky. The remainder may also be closely held, by insiders or others, who knows.
Can they not understand why CMM shareholders are convinced that there has been a massive manipulation here?
