WebTech Wireless Inc WEWWF

RE: Shocked!Where are the regulators?MIA

[cjsell]

Where is it written that poor investment choices should be bailed out by regulators? If Webtech is foolish enough to put cash into questionable short term paper and they get burned, so be it.  When did they buy the paper? Do they know what's backing the paper? Are they insured?  

Webtech has $6 million in suspect paper, and they might get some of it back, taking up to 9 years. Outlook for the accountants on this one looks challenging to say the least. This will also impact Webtech's financials, they will have to write down this money. Oh yes another write down. What was is 20 million in Brazil with Crown, and looks like no recourse?  What of the loan to Crown?

Originally I thought it prudent the manner in which Webtech made full disclosure and took the hit. Hoping that at some future date they could write up the value at some point. I may not have liked it, but it was the right thing to do.  I gave management the benefit of the doubt, but not anymore.

The current situation in my opinion is far worse. Obtect did not disclose this event before it as on the news wire. Since Webtech appointed a new auditor 1,5 years ago, (I believe) I wonder how much did PriceWaterouse Coopers pushed them on this.

If Webtech has a 20% margin, then they need to generate an additional $30,000,000 in revenue to make up the impaired 6 million (amount/margin) Plus additional sales to cover the cover.  Where is this additional reveune going to come from?  Additionally, unless the famed FLEDEX (haha) order comes through with solid transparent details I am afraid that the shorts will have a field day with WEW. Look to buy it again around $1.4-$1.5. I am still underwater on my original Webtech adventures, and wish the longs well. .  Let management prove that they are worth your hard earned capital dollars. Other postings speak of VW in Brazil, Crown but no WEW.

Caveat emptor my friends