900 replies to this topic

[LiarLiar]

I am still a shareholder and am in touch with numerous other significant shareholders who are also very unhappy and are preparing to take corporate action.  I have also been monitoring with interest some people who have started putting pressure on various AD/KC protagonists on twitter etc.

[ponzi]

I am a shareholder just a few million shares but I am not going to give up on exposing them. We are building a strong case with adequate paper trail.

[Shrewed]

Is anyone here still a shareholder? Dumped mine for quite a loss a while ago..

[ponzi]

Only a miracle will stop the suspension. A previous Director has made a presentation to the JSE Market Regulation Division with some damning information. This may be the catalyst to bring the Board to book.

[ponzi]

Only a miracle will stop the suspension. A previous Director has made a presentation to the JSE Market Regulation Division with some damning information. This may be the catalyst to bring the Board to book.

[Queen B]

And lets also not forget that there is a 90% chance they will be suspended from the JSE early next week

[Queen B]

Bottom line is that the shenanigans have been going on for too long now

They should have communicated better with their shareholders if they were "acting in good faith and fulfilling their fiduciary duties"

Now shareholders have all lost faith and jumped ship

Too little too late i'm afraid

[ponzi]

I have contacted one of the very credible Board members she said the Board does not understand that shareholders think that they are not acting in good faith and fulfilling their fiduciary duties? They see the problems as old issues and feel that they are acting in line with their CA' guidelines. They see this as a small hiccup that will soon be sorted.

CAre they blind or naive or can we all be so wrong?

[yusufm]

Breaking news is that a rumour is going round that a party is trying to acquire as many shares as possible at 3 cents and will then try to get other big shareholders on board to force the present management out and look at ways to recapitalise the company; sell KC back to the vendors asset strip Elite and disinvest from other properties. The SARS issue is a major cash flow concern the present Article 200 application has little change to succeed and some arrangement will have to be made with SARS.The company has 2,300 shareholders and there will at some stage be attractive tax benefits through the losses that will enhance future cash flow. They talk about a sound business plan that will possibly include a transaction with one or two attractive SME' to form part of a portfolio. No more free ego enticed offerings, no more start up conferences just focus on business development with Afdawn being rebranded. A PR company to oversee media and social media management. An interactive Web/blog site and open communication based on transparency and ethical business culture. A Brand position that will be based on the above with clear brand promises.

Relatively no volume went through at 3c though...

[Taurus]

If this is JG's best investment, he clearly hasn't ever done a good one

If you have insurance you can't be lose

[LiarLiar]

If this is JG's best investment, he clearly hasn't ever done a good one

[battleship]

I took a bath at 6c,5c but mostly 4c.

Have a buy order at 1c for all I sold as it would be nice to go down with the sick ship I followed and researched for 2 years.

 

Thanks JG for the tip it was the best investment  he had ever made..................over and out

[carlosthejackal]

I also took a bath at 4c <not happy>

[Queen B]

Well that's me done

Managed to offload all my shares at 4 cents today - at a big loss

Wouldn't touch this with a barge pole again

These guys have a lot of answering to do

[Taurus]

I was at the time under the impression that ADW was going to invest in companies with tangible assets. eg renewable energy, agricultural niche markets, specialized resources. That they acquired hot air to squander my savings and orchestrate a egomaniac show is highly disappointing. But the last judgement will not be mine. 

[ajax]

Breaking news is that a rumour is going round that a party is trying to acquire as many shares as possible at 3 cents and will then try to get other big shareholders on board to force the present management out and look at ways to recapitalise the company; sell KC back to the vendors asset strip Elite and disinvest from other properties. The SARS issue is a major cash flow concern the present Article 200 application has little change to succeed and some arrangement will have to be made with SARS.

The company has 2,300 shareholders and there will at some stage be attractive tax benefits through the losses that will enhance future cash flow. They talk about a sound business plan that will possibly include a transaction with one or two attractive SME' to form part of a portfolio. No more free ego enticed offerings, no more start up conferences just focus on business development with Afdawn being rebranded. A PR company to oversee media and social media management. An interactive Web/blog site and open communication based on transparency and ethical business culture. A Brand position that will be based on the above with clear brand promises.

[LiarLiar]

For my mind, AD only has a small chance of survival in any event and that chance only exists if the majority of the current board is removed and Elite disposed of.  KC can be left to limp along I suppose, but a fresh start is needed and KC should be 'sold' off or discarded. Hopefully with fresh faces, and a clean slate, shareholders would be willing to put up enough capital to give AD a chance at becoming a real SME holco (as was the intention in 2013).    

[ajax]

You may be right that the rot has already taken its toll. I also wonder if KC can see any future for themselves in this situation? At their 2014 Exit Conference they boast about their own exit to Afdawn (as an example how to do it), in hindsight it was a deal made in hell. Their DD on Afdawn took three days and boiled down to a few meetings with related parties. In their Grindstone model they motivate a nine month DD to ensure adequate understanding of a business. This year they can at the Moneyweb conference talk for the first time of own experiences; how not to exit or try to get involved in M&A with no skills in the field.

From Afdawn' shareholders' point of view there is no future with a Board being manipulated and Executives with no skills to execute the VISION as communicated in April 2013. You can not rely on a team with no moral fibre. The company is doomed and even if shareholders revolt it will most probably only be to expose the unethical manner in which the company has been run down.

Even if they manage to keep the company listed with no money and a share price below 12 cents per share no acquisitions/investments in SME' will be possible. The manner to grow an 'investment holding company' is to acquire shareholding in attractive entities by using shares and cash consideration.

I hope somebody ask Andrea Bohmert (and the Board) to explain her being a shareholder in Taxtim, Afdawn paying her salary and Grindstone free of cost to Taxtim 'mentoring' the company.

It would be good if Linda de Beer, head South African financial reporting watchdog (working with JSE), can look into the disinformation and outright lies and manipulation by Afdawn.

[LiarLiar]

To my mind it's probably speculative investors who read about AD and KC for the first time and believe the positive spin (read nonsense) being disseminated into the market by KC.  KvZ and co. tell a great story which is easy to get caught up in, but my current view is that the current setup is purely smoke and mirrors. The only problem I have with the impending shareholder intervention is that I am not sure that AD can survive another round of restructuring and attempting to rebrand.  This will be iteration 4 at least. 

[ajax]

Very interesting. Taking into account that a number of shareholders tried to get anything from JG one wonders if these are buyers that are just taking a punt on the historic price range or are they being fed 'info' from Board members? If they believe anything they say they must go for a head check. Taking a punt is just a gamble and the short term value may be in a winding up situation. But the volume is the real interesting part!Three days to go before the anticipated suspension.