The forth name change for this public company.
I invested in Wangle and the business plan presented at that time.
Company name change is purely cosmetic and does not address the underlying issue. Its like trying to sweep the mess under the carpet. The mess still remains. Just hidden
Performance. The Board. The Management. The Business Plan. The Numbers.
All have a failure mark.
Personally I have no idea, what is going on behind the scenes. Gitmans was supposedly the catalyst for Wangle to become an exciting investment vehicle. He departed with a truck load of free shares and left the place in a shambles. Then we have Board resignations and virtually a one man band in Sean Smith running the show.
Without the research grant this company would be close to folding. No revenue, the consultants for tech development and marketing have sucked the funds dry. imo it is hanging onto a dream.
Successful branding of a company takes years of hard work. A good product well serviced, continuity of credible management and Board, stability, transparency, efficient administration, building of revenue and in time profit, control of expenditure, focused niche marketing, leadership, and a well thought out business plan with timelines and accountability.
I see none of this. All I see is short term patch ups with sloppy administration. A micro cap in full survival mode, operating virtually as a one man band, operating out of a rented office, sharing a company sec who is associated with a number of such companies, consultants in for the grab, and nobody in the inner circle putting substantial cash on the line. Four name changes and a share price of .001c and over 2 billion shares on the registry.
Personally i think it is a basket case and I have a lot of cash invested.
Never have I seen so much money squandered and mismanaged.
Its a disgrace to all who have been involved in this public company to this point in time.
When I invested it was developing a microchip to enter a billion dollar market and a VPN that was to be the fastest on the planet.
Now.........an app and a book that appears will survive until the balance of the CR plus the research grant is chewed up in salaries/consultants/administration. The app has made no penetration in the Australian market which is where it was developed and targeted. Just about says it all. Noble to be socially conscious, but it does not make any money. As I see it from figures presented it is a commercial failure. The marketing plan has no edge to it, no really POD, no sense of urgency, no confrontation to the solution of a major social internet issue - just a soft sell. It will just drift off into the realm of app land. Wangle is never mentioned in business circles. The perception is that the company is a loser. That is the comments I get when ever mentioned within any investment group. Now Family Insights, comments I now get, refer to that was Wangle wasnt it? It will take years to rebuild this "Family Insights" brand. I do not think they will get any more funds or the existing management will hang in there for years to see the existing business model succeed.
Whats left a rinse and repeat of this microcap for the 5th time.
Happy to be proven otherwise but for my money invested I foresee the next quarterly will be a shocker for revenue, similar to the last.
imo its a goner.
Expand
