Post by
graffle on Jan 04, 2023 2:01pm
I quit
After years of following and adding shares of WEE to my portfolio, I'm finally fed up with waiting for a turnaround. Damn near sold my shares when it bounced up to 40 cents. So I just dumped 500K shares yesterday, and I have some more I'm dumping before this gets delisted.
I was always concerned that this technology never caught on with pretty much any customers over the years. The results reported in tests seemed promising, but repeat business never seemed to stick. Is that the technology or is that management? We've never been informed why so many companies tried WEE's Tech and then gave it a pass. Retention is critical and the lifeblood of a company. Just hasn't happened.
I was always surprised at the extent of the tax losses taken on an unprofitable company. Might be some aspect of Listing regulations of which I am unaware, but it seemed to me that the tax loss exceeded any profit. Had the write downs been deferred, there would have been a few quarters of profit, which would have been huge. Maybe someone can explain it to me.
Good luck to everyone. Seems like WEE is about to die a sad death. It's too bad. i believed in the home-grown Alberta technology, but customers just didn't seem to.
Comment by
Freezerburn on Jan 04, 2023 5:02pm
I told you guys years ago.... WEE uses way too much water. That's why it wasn't successful.
Comment by
Freezerburn on Jan 04, 2023 6:17pm
And if memory serves, when asked to address this management totally lost their Schmitt.
Comment by
himmler on Jan 04, 2023 10:18pm
Good luck Graffle..I remember you. i can only explain this companys strategy..they played with numbers tax-wise,and only wrere able to barely continue operations with piecemeal contracts..they did this brilliantly for over a decade .There was always hope,but that required a big and constant contaract.It never came. However manegement always got paid....brilliant but crooked for us share holders.
Comment by
navajojoe on Jan 06, 2023 9:59am
This post has been removed in accordance with Community Policy
Comment by
tannin on Jan 09, 2023 8:44pm
not hard to see a company paying to buy a massive tax loss.....
Comment by
tannin on Jan 10, 2023 3:02am
Though graffle and himmler are more likely to be right.......shareholders, other than insiders, usually get shafted...and, after 20 years of failure and 80 million burned, hard to have a lot of faith in our boy Brett.
Comment by
himmler on Jan 10, 2023 4:11pm
Brett has been brilliant in providing himself with a steady paycheck...I ,and even Gojo have mentioned that many times. As they say"nothing personal,but that's business"
Comment by
tannin on Jan 10, 2023 4:17pm
Is our boy Brett beavering over the account books or basting on a beach in the Bahamas ? A visit to customers who are stiffing us might be time well spent.
Comment by
Weeble on Jan 10, 2023 6:25pm
Nobody is going to buy a company with expiring patents that has proven again and again that it can never make any money. Face it, your money is gone. The writing was on the wall and you should have sold years ago.