QUESTION
With today’s positive news about Do It Best, why is the stock selling off?? People think you are diluting and if you are why if you got a PO for a large order and presumably payment as well. Also, with this order will there be any need for further short term dilution?
ANSWER
At any point in time, there are many people who are either considering selling or considering buying WNBD shares for a variety of reasons, but waiting for the right moment. Often, they need a triggering event, such as significant news. The natural increase in buying during significant news events is an opportunity for those who want to sell. This natural increase in both buyers and sellers at such times increases liquidity. Buyers wait for such opportunities too, not only sellers. One could just as easily call it a “buy-in” as a “sell-off” when volumes are significantly above average. With over 60 Million shares traded today, the typical daily volume was exceeded by approximately 500%, yet the price closed lower by approximately 12.5%. A true sell-off would be characterized by larger price reductions in the face of such large volume.
The company itself is not one of the direct sellers, because the company does not sell shares to the public. Accredited investors who are permitted by federal and state law to subscribe to shares under provisions of financing regulations, such as Regulation D, Rule 504, are responsible for holding the shares that they acquire through subscription for a sufficient period of time to demonstrate investment intent, before selling. There is always a lag time between the issuance of shares and their eventual release into the market. This lag time varies by subscriber and is never coordinated with the company. Such investors, as well as open market investors who trade through their investment accounts, and persons who are willing to accept shares instead of cash in settlement of eligible loans (under Rule 144), are all in the mix.
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On the buying side, there are now several thousand beneficial shareholders in a number of countries from all walks of life. These include soldiers and scientists, retired persons and recent graduates. Additionally, market makers act as an intermediary as well as buying or selling for their own purposes. It is therefore impossible for the company to know who exactly is buying or selling on a particular day.
As to the role of the most recent orders on the financing activity, it should be remembered that budgeting for the organization is long term, and carried out long in advance. Orders on a particular day do not by themselves affect financing activity, however, sustained ordering that exceeds previous levels consistently, does diminish the need to raise capital.
Ultimately, that is the significance of today’s orders from Do-it-Best; for the first time in Winning Brands history, an organization of 4,000 retail outlets will have the 1000+ Stain Remover brand in conveniently situated warehouses to draw down on without the prohibitive minimum orders that conventional distributors often impose upon stores. With 1000+ Stain Remover in the distribution centers, member stores can order easily in small quantities, for weekly delivery. They like that. It’s very efficient and certainly the start of a new chapter for Winning Brands.
Access to thousands of stores that serve millions of consumers in America is at the heart of the Winning Brands business plan. It’s something that we have worked for years to accomplish and we now have it – because we earned it.
