GREY:SMDWF - Post by User
Comment by
JohnnyTSXon Jun 28, 2016 12:56pm
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Post# 25005221
RE:Any idea?
RE:Any idea?Wolfe666 wrote: Any idea?
I missed the session...working... Do we have any idea who will be leading, running the company? When the shares will be trading again…? Was this discussed at all…? Any info would be appreciated…Thanks.
Here is a summary GF's plan - sorry if I got any of the order wrong:
Need to raise at least $170-200k first (by July 11 I think) to put in a new holdco called WidWrx Recovery Corp to act as a sort of lender to VidWrx. Then file under insolvency act to buy time (~30 days) to negotiate with creditors. Then hire some sales staff in a virtual office (i.e. home offices) to get cashflow/sales rolling under a new sales model. Then recruit/hire CEO/CFO. Then turn trading back on after some kind of share consolidation likely of at least 1:2, possibly more to get float under 40,000,000 to attract new financing. New CEO/CFO would go to get financing.