900 replies to this topic

[ajax]

Report out....lot of fluff; reasons for not investing (as per vision), motivating a nonsensical Grindstone game and huge unsecured lending provisions.  

 

They should look at their SENS announcements of 13the December 2013 and 17th January 2014 and try to tie up what the stated facts were then and how this have evolved to a new set of rules; wagging the dog. My prediction in six months time we will have more of the same. 

 

In the past they bragged about Elite being different; now dragging the company even further down the drain.

 

SARS settlement not finalised as yet? Rights Issue money will be used to settle SARS once agreement has been reached.    

 

Bottom line Afdawn is still an unsecured lending business doing some SME educational work for free.  

 

ADW1 you were spot on (you can see in the future....), well done. 

[yusufm]

Busy the whole day...anything out yet?

Sent from my SM-G800F using Sharenet Sharechat mobile app

results just out 

[Staghorn]

Busy the whole day...anything out yet?

Sent from my SM-G800F using Sharenet Sharechat mobile app

[ajax]

ADW1 is this a formal company position? You sound like a Doctor...a Spin Doctor. Not investing is walking away from the motivation of the KC deal as well as the Rights Offer. But then again with their total disregard for shareholder's position nothing will surprise us.

 

Let's assist management with a new Brand;

• Brand DNA - wagging the dog
• Brand promise - BBB
• Brand visual statement - showing the EFF finger to the shareholders

 

[ponzi]

As I see it our money from the RI is still untouched in the bank earning 3.5% per annum. It will be a risk to invest in new businesses at this time. At least with Grindstone Afdawn do not have to fund any of these businesses while the concept is being proven. Don't expect too much from any announcement today. I think they will just elaborate on what we already know.  

 

Share price should jump as there are no more bad news expected.

[Fleetstroke1]

the share price has been stuck on8c for 2 days on low volumes just before the long awaited announcement,expected today.Things are dampened due to the financial results being poor.But ,logically speaking how could they be good,when we assume afdawn is purchasing company interests and not getting an immediate return.

 

It all boils down to for the first time,we get told what they have actually done.We are expecting positive interesting news.LETS HOPE............................

What good can we possibly get out of this bunch..... Lets hope PSG buys a controlling stake and then things can turn around, otherwise we invested in a Ponzi Scheme.

[battleship]

the share price has been stuck on8c for 2 days on low volumes just before the long awaited announcement,expected today.Things are dampened due to the financial results being poor.But ,logically speaking how could they be good,when we assume afdawn is purchasing company interests and not getting an immediate return.

 

It all boils down to for the first time,we get told what they have actually done.We are expecting positive interesting news.LETS HOPE............................

[ajax]

'Do the rights things even if no one is watching'; there may be CCTV cameras.

Today the big announcement day.

Market is waiting in anticipation. 

[ponzi]

Don't fight, I can not take blood. JHB1972 let go you have made your point and you are now confusing us. What has the Social and Ethics Committee to do with the running of the company? If management's tactic is to focus on what they do best and you do not like it sell your shares! The momentum is so strong that even after the so called bad news investors are still lining up to buy.      

[ajax]

Interesting points. Is there a subtle suggestion that somebody from inside the company is sharing information not in the public domain? Should we rather do the ostrich thing, the bad news will go away. 

 

Look at the news and tweets on the Afdawn web site http://www.afdawn.co.za/index.php/news all about Grindstone - in detail, that is what they do and how they spend their time! I am seeking some news on Afdawn related activities, too much to ask? I wonder if the Afdawn Board or Chairman approved the Grindstone media release incorporating bold statements and price sensitive information, have these claims be verified and if so be whom? A subsidiary is communicating that it has proven a concept that impacts on the IP and capabilities of the company. Why is this important? I know of parties buying Afdawn on the back of the management's ability to turn businesses around and to double the investee(?) valuation (as per the Grindstone media release). See also on this forum. But I must reiterate; if this can indeed be done why don't you do it for Afdawn's shareholder benefit - it would be great? 

 

Regarding Elite; no secrets there. I wonder if the Social and Ethics Committee will share in their report at the AGM what happened at Elite during the year, it could be of benefit to read especially page 5 of the Social & Ethics Committee Handbook regarding governance and responsibilities.

 

The Q&A time at the AGM will be of great benefit to all, an intriguing agenda taken the state of the company into account.   

 

 

[Fleetstroke1]

The most important issue from the SENS announcement and status is that they have to get rid of Elite, big risks that will not go away (industry and business specific). The point is that the new management has done nothing to add value to the company at all - since March when KC transaction was finalised. They spend all their time on Grindstone that is a free service and one must also appreciate that the results as reported from GS are untested, my worry is that the Board must have actually approved this. I think that the KC team is trying to prove a concept sponsored by the Afdawn shareholders! Monday next week another round of free 'evaluation' of 20 Grindstone companies. Today they, according to their tweets are in a workshop analysing pitches and business models of same. If this is not related to the Afdawn vision one must question the strategy as well as the Board's ability to ensure that management add value for shareholders (or even try to by applying company resources to the business of Afdawn).

 

Another BIG worry is that they only now realise that there are big problems with the 6 month results i.e. more that 20% decline.(3 months after the 6 month period). JSE rules that they should immediately when they know of such a situation report it to the market. Unfortunately more of the same lack of communication.     

The worrying factor here JHB1972 is that you know to much info about what is not public knowledge, it is concerning because you might just be a negative competitor who wants the shareholders to be confused before the annoncement. I would discourage the forum from listenning to till the meeting is held. 

[ajax]

The most important issue from the SENS announcement and status is that they have to get rid of Elite, big risks that will not go away (industry and business specific). The point is that the new management has done nothing to add value to the company at all - since March when KC transaction was finalised. They spend all their time on Grindstone that is a free service and one must also appreciate that the results as reported from GS are untested, my worry is that the Board must have actually approved this. I think that the KC team is trying to prove a concept sponsored by the Afdawn shareholders! Monday next week another round of free 'evaluation' of 20 Grindstone companies. Today they, according to their tweets are in a workshop analysing pitches and business models of same. If this is not related to the Afdawn vision one must question the strategy as well as the Board's ability to ensure that management add value for shareholders (or even try to by applying company resources to the business of Afdawn).

 

Another BIG worry is that they only now realise that there are big problems with the 6 month results i.e. more that 20% decline.(3 months after the 6 month period). JSE rules that they should immediately when they know of such a situation report it to the market. Unfortunately more of the same lack of communication.     

[battleship]

Thank you Vlam-hobbyist.I never received it or could find it on the net.

 

Its not too exciting(we were hoping to do better than the previous period),but it was the first 6months of the new top brass and clearly the expected acquisitions etc could not show a profit .There is no mention of what they have done,but we will find out after tomorrow The shareprice is back to 8c and 2,7m traded this morning.There is still good optimism

[vlam]

There was a SENS yesterday.  I'm not sure why it doesn't appear on the places I normally check SENS though...?

 

[Link to the SENS]

(from @JSE_SENS twitter feed, indirect link to just indicate the source)

[battleship]

ADW1s post this morning is positive.I have the IMARA SP REID share package which is spot on but the SENS yiu refer to was never  published.The trade price is 7c at present.Is the announcement expected tomorrow still coming?Or is our painful wait a damp fire cracker?

[ponzi]

Last evening's SENS is in all positive news. The SARS settlement takes another uncertainty out of the way. Elite may still be a burden but apparently JG knows this business inside out. I am sure that they will announce investment deal negotiations very soon. This will justify the Knife Capital transaction and will eradicate any future losses and I believe will put the company on a winning track. 

[ajax]

Wait is an option BUT one of the senior managers is viewing this little debate on an ongoing basis. At least they see what some shareholders are saying. If we don't debate and just wait they perceive the status as an endorsement. As a result of an open discussion they may consider;

• Changing the operational structure with somebody dedicated to new business development and another to the sell-off of non-core assets.
• Focus on their vision that they have used as motivation for the Rights Offer - less conferences/talkshops and more focused action.
• The Chairman may think about the questions that he can expect at the AGM - only fair on him.
• Decide on a more open and frank communication strategy....
• Become less Cape-centric and move beyond start-up (groupie orientated) and more of a National player.
• Embrace a BEE strategy as was anticipated by them - this will broaden the horizons.

The six month results - R4 million NPAT (sustainable, excluding capital recoupments) at forward 10 PE R80 million market cap - +/- 10 cents share price? Get your hands dirty and start adding value.  

    

[battleship]

Yes ADW1,JHB1972 and Pickapprentice,all you comments are pertinent and great.However.....

 

At present,JUST WAIT  >>>>ITS ALL YOU CAN DO

 

Did that clever man Frans De Klerk reveal lately the price would spike or are those his comments from 3 months ago when they spiked hard?When Frans says buy,it becomes a mad rush

[ponzi]

Information close to the company suggest that there is a change of heart and that Grindstone is being revamped as some of the Non-executive Directors are pushing for a more business like approach. Optimising the groundbreaking ability to turn businesses around will be harnessed - all will be revealed at the AGM. I think Frans de Klerk was correct - share price breakout is about to happen.     

[ajax]

Thanks Battleship - can we really accept that the KC management members are as good as you say they are? The Grindstone results are all untested and it seems that it all revolve around Okhule? I don't see Me Paula Brown raving about the contribution by Grindstone i.e. doubling her company's valuation. I would feel much more comfortable if Afdawn's management post detail information of the business model and substantiated results from the 10 companies that they have developed (free of charge) over the past year. Are they going to invest in Okhule? If not why not, surely if she feels that KC/Grindstone has turned her business around she would be keen on an ongoing and formal relationship? Surely out of the ten there must be at least 5/6 businesses worthwhile investing in? Well, investing after the business valuations have been doubled also not that clever - is that the Afdawn/MBA approach?

 

In my mind I battle to find logic in what they are doing; they say that they have developed a model to achieve these amazing results (see Grindstone on the KC website), they say that they have proven the concept; when KC was bought they said that the transaction will facilitate the roll out of the Afdawn vision, supported by the Rights Issue -  "In 2013 the vision and strategy of the company was changed for Afdawn to become an active investment holding company, acquiring shareholding in entrepreneurial and innovation-driven companies with proven growth strategies." and "The Group intends to play an important role in the entrepreneurial ecosystem in a way that will enable entrepreneurs to reach our shared goal and to ensure a sustainable growth path for both our investee companies and our shareholders. We look to add value by providing long-term capital, growth enabling skills, strategic acumen and identifying growth gaps to establish a sound platform for growth. We look to establish strategic relationships and leverage our networks to assist us in this process." 

 

Now 9 months later the big brag is about free services to 10 companies. If you can achieve that how about applying it to investments and accelerate the shareholder's value?