I recieved this E mail today from a fellow investor .... happpens to be another stock... Point being that managment have been very proactive in arranging the exercise of wts to fund the companies drilling program. This is what WEL managment should have done.... told them many many times this would be an issue.... but some peploe just don't get it!
Instead of building and enhancing the WEL investors relationship, managment has chosen to ailienate the present shareholders / place's.
Potentially there was $3,000,000 to be had via the sugar daddy providing the support to exercise these wts and fund the company imediately. Managment has chosen to allow the wts to expire over the next 2 months, alienate the present shareholder base, allow the stock to lanquish here in the dulldrums which will enable the sugar daddy to provide cash at an even lower price than the .15 wts..... More dilutive to achieve the same dollar value.... and potentially more wts.
This will lead to yet another overhang down the road when those wts approach maturity.
This is in effect an act of submission by WEL managment in my view. Where's that support from that big money ..... or is that more smoke and mirrors!... JMHO
Sorry but it's hard to be positive with the way this has turned out for me and others here. I'm just telling like it is... Thats all!
In order to make this right, and confirm what managment have been saying, the sugar daddy will have to provide 2 to 3 million at about .25 to make this right...JMHO
Here's that email:
"Trading volume of Duran increased sharply today and is expected to continue. Jeff Reeder, the CEO of Duran, has arranged for investors to enter the market to buy shares from warrant holders, who in turn are exercising their warrants at 10 cents. Funds raised will be used for drilling."
