Everything will be ok once the Singapore listing WNEA goes ahead in FEB 2014. WAS will own 66.7% of subsidiary Wasabi New Energy Asia (WNEA). Wasabi Energy will receive a royalty payment from WNEA for each Kalina Cycle power plant built based on the installed megawatt (MW) capacity. Singapore investors will take to this float as energy companies are rated highly , growth of energy in the region or to replace less efficient systems is huge. Linc Energy LNC recent decision to list in Singapore for the precise reason the ASX investors wouldn't rate it fairly.
As for the Warrants , it looks like the 2c warrants wont be executed at this stage but the 0.8c ones still might get exercised. WAS does have the option to sell down some of its its 66.7% of WNEA or its other assets if needed.
WAS isnt going under , its basically going to list its main asset on the Singapore exchange . Its trading below asset value , is it a punt - yes.
WAS Price at posting:
0.5¢ Sentiment: None Disclosure: Held
