RE: NEWS RELEASE ON FINANCING
Crystalene,
I think you are reading the NR (not posted on their website but I will
for the present assume it is bona fide and not a prank from WDTS) absolutely correctly. It merely states that they up to now have raised a total of 391k. This is not the final result. Not only is still part of the subscriptions from the PP missing but the whole issue of oversubscription privileges is not even mentioned and I think not even resolved.
Unfortunately we don't in the rights issue know the distribution between insiders and minority shareholders who exercised their rights.
Judging by the figures I would say the insiders (founders and management)are not pulling their weight. In particular I suspect Jim Miller who has turned out to be a total non-starter has not been exercising his rights.
Anyway, for anybody who believes this technology has a future (and it has. IMHO it is a stepping stone to virtual reality. I you want to find out what I mean watch the movie "Johnny Mnemonic" with Keanu Reeves et alia)it is time to pick up some cheap shares.
huxley