Couple of more quotes:-
"Nah" Rosa Parks... simple.
"You can only connect dots from the past" ...Steve Jobs
The continued lack of transparency, accountability and adherence to ASIC and ASX guidelines can only be drawn from past announcements and shareholder updates from where we find ourselves now.
Due diligence was apparently carried out by NXR to invest in WBT from the period 01/04/14 - 15/05/14 for the non refundable amount of $100,000. NXR continued to invest in WBT to the tune of $2,425000 on this due diligence until 12 March 2015, when the issue of independent testing was first brought into the equation and a condition to continue to increase investing in WBT.
Up until 12 March, 2015 the NXR directors considered (according to announcements), "the prototype is considered appropriate for application for Defence and certain other software". (No mention of independent testing until this date).
This is where our investment took a turn to the questionable. Independent testing from Purdue.
I only have one question to the new BOD of WBT. What is the current state of the technology? If it's good, then we have a tangible asset worth developing to miniaturised application for Defense and mobile platforms.
If not, where did $2,425,000 go? What DD did NXR conduct and by whom. And who profited from this investment.
Yes, I believe the new BOD of wavefront are trying to fathom the answers to these questions also.
But, I have sent three letters in the past two months to different people from NXR and WBT
in relation to results from Purdue/patents etc, and have not received one written reply via email, (including new BOD of WBT)......not even a "we cannot answer these questions at this time" answer.
and before posters bang on about the past, leave it, let the newly appointed directors get on with it etc, this is the fifth lot of directors from NXR & WBT, who are working on this. And to say 31/2 years ago is irrelevant now, is akin to burying your head in the sand. The original investment saw many capital raisings, dilution to shareholders and continued support for the technology of WBT in its announcements and $$$ invested. Where did everybody go after that flurry of keen interest?
DYOR and you are NOT powerless...
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