900 replies to this topic

[JR7800]

Taurus,

 

I agree with 2 things in your post below:

1 The shell has it intrinsic value if someone infuses a new business model. - I agree. As I have said before. Keep the micro lending business,run it well and use that to cover costs. Invest in new business opportunity with real potential with good management and shareholder relations and get funding for this. It can work.

 

2   You got nothing to loose. - I agree. We already lost everything. 50/50 chance of getting money back or claiming at lease some of it back from SARS. 

 

I was at the AGM 2 years ago when the share consolidation was also approved (not by me) and 2 years later no progress. I wont be holding my breath on this one. If only they would share something with us regular shareholders.

 

Good luck.

[Taurus]

Hello,
Is there anybody out there. Is this a mutual feeling or am I really on my own?

[Taurus]

My fellows,

keep your shares, stop the diluting. Don't invest money. The shell has it intrinsic value if someone infuses a new business model. Time. It has been always at your hands. You all know the time-money concept. If you want to read up the principles about the deeper relations read "The quest for Value" by G Bennet Stewart, III. If you don't have the time forget it, hold on and sit and wait. You got nothing to loose.

[JR7800]

Ponzi. I agree with you in that I do not know how the company at this stage keeps on going. I do however hope for the shareholders that there can be a way forward in which the company are still listed so that they can recoup some of their investment. If the company lose the listing the shareholders get nothing. Again, all we want are some feedback.

[ponzi]

I really wonder how they get by the JSE to keep the listing. We know their modus operandi by now. But why are they going on with the company at all? How do they keep the lights on? The minorities should ask the Board/Chairman to share the way forward with them.     

[JR7800]

Taurus, My shares are now worth less than the cost of going to the AGM so that is why I am not attending anymore. Show me a real plan, real returns and I will gladly attend meetings, give input and even invest more money, but this is a long way away. Especially when interaction with shareholders are non existing. I don't expect a one on one session about every decision, but at least every two months or so let us know the lights are still on. Maybe to much to ask?

[Taurus]

Will go to next years AGM to hear their recipe how sink money for tax clearance purposes (looks like the shipping industry). I might learn something if they still exist by that time. Anyone wants to join me and remind me when the time comes? 

Some clever shark out there is getting some competition and I am still a shareholder and won't let go.

Edited by Taurus, 18 September 2018 - 10:48 PM.

[Taurus]

Yep. Still here. Have not looked at this misery for a long time and missed the AGM. The value is ridiculous and if there is no new business model it will slowly die. I hope at least that the shell is clean now and the next reverse take over(if any) will at at least be without the train smash they produced the last time.

I have a viable business model to inject. But who am I in this world? Seems that everybody knows better.

[JR7800]

Anyone still there?

 

I see they had the AGM today. Was anyone on the forum there? Any news?

 

[ponzi]

Wow anybody still there....? Is this the end? Why did they never take the offer of a party wanting to take the shell over and inject some assets to make it whole again? Possibly because of the skeletons? 29th June the last dance.. 

[JR7800]

Wow, looking back at my comments below (16 September 2016) I cannot believe I did not take my 1c per share (at that point R40 for every 4,000 shares held) and run. So, everyone have now lost even  more money.

 

I was there, voting against the share consolidation and I was told that day that the reason for the share consolidation was that the wild swing in share price (eg: at that point 2c and sold for 3c so 50% swing for the day). This apparently made it difficult to "do deals"???

 

I am so glad the swing in today's trade so far (27c to 15c = 44%) is not too big or an issue.

 

Do anyone know if they have paid the SARS liability yet? Although  I am not sure where the money would come from.

 

Did anyone here attend the last AGM? 

______________________________________________________________________________________________________________________________________________________

 

 

JR7800

Posted 16 September 2016 - 12:37 PM

I see AFDAWN wants to consolidate the shares on a 40 to 1 basis.

 

I really hope everyone comes to the AGM and votes against this.

 

Currently the share price, for all practical purposes are 1cent. What this means is that the lot of us still holding shares cannot lose any more money. If you hold 4,000 shares @1 cent it is worth R40.

 

If we agree to the consolidation you will have 100 shares (4,000/40) @ the consolidated price of R40 (1 cent x 4000 = 40 cents x 100).

 

My problem with the consolidation is that it will mean you can lose more on your investment. As there is not really any good news to lift the share price from a consolidated value of 40c per share I will expect it to fall even further, even going back to 1 cent again. This will mean that your investment in 4,000 shares which currently can go below R40 rand will be worth: 100 consolidated shares @ 1 cent = R1.

 

So you have lost another R39 of your money by agreeing to the share consolidation.

 

Management must rather concentrate their efforts in improving the business and to start generating profits instead of finding ways for their shareholders to lose more money.

 

Management will most probably condemn this post again but I really don't care anymore. Have had enough of empty promises.

 

Hope to see all you shareholders who have had enough at the AGM.

 

[Taurus]

 

...And now, the end is near. And so we face the final curtain. My friend, I'll say it clear. I'll state our case, of which I'm certain.......

 

 

 

 

[Sugafoot]

Moses would have had a tougher time getting water out of a rock... <br />Your staying power is commendable, guys

As I said then in 2015, I say now

[ponzi]

Where are they going to get the money to pay this? What if they do not pay? So we will most probable see the last of this circus. Some clowns are gone already....  

[Shi]

So, the fine payable to SARS is more than the market cap of ADW ... rights offer? race to 1c? It is below 1c already if you take last year's share consolidation into account.

[ponzi]

How can they still keep this shell listed? 

[JR7800]

Hi all

 

Was anyone on this forum at the AGM this year? From the silence I gather it was pretty much the same as the previous years.

 

Any comments?

[ajax]

There you have it....sale of KC 'the best deal' Jacques Groenewald has ever done at R6.5 million less than what they paid for it.Good riddance, should have happened 4 years ago!  

[Guito]

What negotiations is the sens of the 14th July referring to? Can't be one of the old ongoing ones.

 

Your guess is as good as ours. The board is not really known for having strong communication (or negotiation for that matter) skills.

[Taurus]

What negotiations is the sens of the 14th July referring to? Can't be one of the old ongoing ones.