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Engineering, procurement, construction & management of crude oil refineries.

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Message: Good News and Bad News

Good News and Bad News

posted on Jul 20, 2009 12:51AM

It looks like everyone is jumping for joy that MF has finally done his job and is about to have WWF trading again. (How sad is that? We're celebrating because someone is doing his job - finally). And that is the good news. Like I've said before, his prior ineptitude has cost WWF and shareholders a huge amount.

The impact of not trading has damaged or erased corporate credibility and that will have to be rebuilt. That's really too bad because if the News Releases everyone thinks will happen, actually happen, the reaction may be somewhat muted.

But here's the real problem - and MF has brought this on all of us. He's just done a pp at 5 cents with warrants. So that's at least 10 MILLION new shares diluting our positions. If the company had been in compliance, with proper management, think of what could have been. Example.. if the company had been trading with regular positive News Releases, and IF the stock price had been 50 cents, current shareholder positions might only have been diluted by 1 Million new shares issued. What a difference !!

There will be a roll-up in WWF's future.

What a mixed bag MF has given us. I hope that we shareholders keep MF's feet to the fire. We know his history - and in this instance, we cannot let history repeat itself.

Our position has been that we are long on this stock. But with 10MM new shares, we will be watching very very carefully. I can no longer see the valuation necessary to achieve our target price.

That's the good news and the bad news. And I am still

Whattamaroon

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