West Island Brands Inc C.WIB

Investors waiting for news about what happened to

[KozmoT]

the missing $3 million "loaned" to management relatives for the Hemminford greenhouses that never got built ..that in fact never even had foundations poured !!  Company seems awfully slow in disclosing that information.  I'm sure it'll be any day now....

[Gription]

What is happening or has happened to the 3 million loan from the company will never be reported or repaid . It was a scheme to funnel money to relatives . It will quietly remain on the books . Within a year the charade ends as this company ceases operations .

[KozmoT]

The problem with your theory of the missing funds is that it would be very very illegal and subject to lawsuits and criminal charges - I'm gonna assume they are in the process of figuring out how to pay it back to investors. All we know is it sure as heII didn't go to building greenhouses.

[Noscams]

I wonder what their burn rate is per month and who is getting the money ?

[KozmoT]

According to their last Financial statements they spent over $680,000 just in General and Admin Expenses (think management fees, "professional fees" and share-based compensation) - just for 3 months!  Of that $308K was reported as "Related Party Transactions" - in other words they appear to be paying themselves over $100,000 PER MONTH!!!!! P.S. - That works out to a burn