Give or take about 60m shares have been exchanged since Ariel...

Give or take about 60m shares have been exchanged since Ariel Malik’s last notice of change on the 22nd of Jan. 

60m and that’s just on the ASX...about 3.8% of the register.

At at that time as best we know Malik still had roughly 107m and Borenstein had about 93m...(whilst other seeds clearly have holdings, these 2 boys are the majors) - combined roughly 12.6% of the register.

Here’s my thinking; for all of the general optimism surrounding WBT, it’s technology (which has been consistently de-risking itself) & it’s future prospects, someone has been selling...well der!

The thing is I don’t know anyone who’s sold. To the contrary I know a number of people who have bought recently on weakness & ultimately I can’t quite get my head around that that many retailers exited at this point in time even if you were pissy with the consolidation (if you’ve ridden it down to 2.5s / 40m MC with even a fading expectation of NRE/28nn/300mm I struggle to see how you bring yourself to sell whilst all the while getting peppered with these serious endorsements from a growing list of industry players - but someone’s been prepared too....

Interested if anyone has actually sold around here? Know anyone who has?

Im hopeful and believe that not many have and that of those shares sold a serious chunk would have been Malik and Borenstein. Why hopeful??? Because with each notification our register is getting stronger. 

I believe our 3 biggest SP drags are the a) temporary mood within the tech space - never a positive when you’re trying to get large companies to look long & guinea pig b) Lack of genuine understanding of the tech space by Australians (just haven’t had adequate exposure and opportunities and in turn far more focused on immediate cash flows than many other parts of the world which ascribe greater value to future potential revenues) & c) our seeds selling....

Sure SP ain’t great (pretty woeful really) but if these guys end up under 10% collectively over the next few weeks then I’ll be pretty happy, it means we’ve absorbed a decent lashing and are one decent step closer to fixing our irritating and persistent leaking tap.

I believe that plenty of people here are prepared to back this team, this tech and can see a pathway to market(s) - bit like Poker....seems like WBT is the right call/bet to make, doesn’t mean you’ll necessarily win the hand. But either way the quicker we exit Malik & Borenstein (or have them reach their comfort holding), the quicker the shackles can come off....

So.....I’m really hoping to see a couple of notices come through soon....if I’m right and we’ve had more offloading by MB, we’re getting closer to inflexion...post tomorrow’s consolidation vote we’ll be a further half step closer.

just another parting thought...if I’m right and those two were the primary sellers over this past month (say 30-50m) what do you think would have happened to the SP if their shares weren’t in the mix.....total sellers viewable on market totals roughly 15.5m...hmmm.....

AIMHO