I have been buying at 0.4 and under thinking it possibly cannot...

I have been buying at 0.4 and under thinking it possibly cannot go any lower but after witnessing the SP action today I am convinced that this will keep diving. This selling pressure from seed investors seem like they want to completely exit WBT, not even thinking about free carrying the rest which was my line of though until now. I decided to look for a possible explanation of this illogical situation and was able to dug out some information.

The seed investors did not really sell when it was in the highs, they started selling after the last capital raise. Why then? The raise was with Everblu which is run by the Blumentals. An article by AFR (just google it) in 23 April 2018 entitled "How EverBlu Capital is reaping windfalls from the micro-cap frenzy" the author states that "the numerous levels at which the family is involved are a red flag" so my theory is that these seed investors qualified it as a red flag and decided to exit. If you look at it, the companies listed in the Everblu website are currently either at their all-time low or suspended by ASX. This would also explain why there is hardly any buying pressure from the so-called institutional investors and family offices despite the "Sale of the Century". Check out Victory Mines, Creso Pharma, Roots, Hardey Resources, Cannpal, Angel Seafoods, etc. It makes sense to me that the consolidation was just to mitigate this inevitable decline.

We need the strategic partnership with a key industry partner promised by Coby. He mentioned late last year that worst case it would be this quarter, lets see him make good of that promise. I think anything short of that and the 28nm will see us witness more share price destruction despite the promise of the technology. All the best to those who can pick the bottom and trade like heroes.

Who was the director who engineered the capital raise with Everblu - was it Ashley Krongold? I think he is buddies with the Blumentals through Investec.

All of the above are my opinions only.