900 replies to this topic

[Magnet]

The days trading will inform that, respond tomorrow and lets see what the scenario will be. Its nearly midday and trading is poor(5000 shares) , doesn't that tell you something.  

 

It is fine.  There are 782 000 offers out to buy for 8C but no one is budging just yet...

[Fleetstroke1]

** Withdraw comment.

 

If you do not have something nice to say, do not say it! 

The days trading will inform that, respond tomorrow and lets see what the scenario will be. Its nearly midday and trading is poor(5000 shares) , doesn't that tell you something.  

[MrDividend]

** Withdraw comment.

 

If you do not have something nice to say, do not say it! 

Edited by MrDividend, 22 January 2015 - 10:52 AM.

[Fleetstroke1]

I think this forum has managed to scare off those who were manipulating this share price.... we showed that we can see what they are doing. In May this share was trading at 20c and now, with all the suppossedly good things happening it is at 8c and millions are changing hands.... Yesterdays' volume of just above 300k is more realistic. Let's see how the share performs without manipulation. 

[ajax]

Zerocool; so what you are saying is blind believe - no questions asked? Why can't they substantiate the 'good news' is this to much to ask? Why not for example give the information on their fees re iKubu, especially since they brag about the very attractive income from the deal (as per public statements and tweet by the CEO)? Remember that the Afdawn Board open this debate by putting Cautionaries out promising full details of deal announcements and then cancel the Cautionary with a one liner and no information....Can we expect more of the same - disinformation with future broker deals i.e. fees.

 

What exactly did KC bring to the 'party' (excuse the punt)? Afdawn is surviving on funds from the Rights Issue (our R 21 million) that was aggressively motivated on the assumption of a different vision and the promised actions are not being followed through.  

 

I must say you sound very much like an insider......are you? Remember that KC is now part of a public company and that there are more than 2,000 shareholders, many small like me, we have rights and should be treated as shareholders with dignity - but we are given the mushroom treatment. SARS under control, why the Cautionary before the AGM.....will we once again be notified of the eventual outcome by a one liner? Just beware of to much smoke and mirrors.  

 

if things are going so well as suggested we will surely see a Trading Statement update very soon? At least they can't hide from this one.  

[zerocool]

After reading all the comments on this forum, all we are doing is speculating and focusing on the negative. "Why did they not do this and why did they not do that".. Can we not focus on the positive of the KC/Afdawn deal and focus on what will come out of this rather than to knock them on every corner. Since the KC team came in, they only provided us with positive news and without them, Afdawn would not have made it through 2014. 

 

Re selling of Elite: at the AGM they made it clear that Elite was not selling material- they first had to "fix" it and that is where most of the time has gone in 2014 - to restructure and fix. 

Re the SARS issue: they have already made provision for this in the financial statements (previous year already) as per AGM and SENS. 

 

I think we will see more deals coming this way soon. Ikubu is out of the way and I think Iono.FM is next. We should see some further investments flowing from the GA programme during the course of this year. 

 

Volumes are good and a SENS should be in the pipeline. 

[ajax]

Very valid point; but why did they not invest in iKubu? There were some 476 world-wide private backers for the crowd funding drive - Grindstone obviously did not believe in the company as they were not interested in investing, now hind sight is an exact science and they end up with a minuscule fee? What does this mean for their future tactics consider that they could not see value in iKubu?

One can only wish Backtracker and Garmin all of the best, the iKubu team has tenacity and are very knowledgeable developers – they seized the Garmin opportunity.

 

On 24th September 2014 Franz Struwig wrote; "I guess this feels a bit like your boss sugar-coating some really nasty feedback. So let’s face it: We did not reach our funding goal. We extended the campaign half way through, and we also decreased the target, but we were still unable to get close to it. I think that the whole team worked really hard and did an excellent job. There is really no single mistake we can look back on as a seminal moment. What we have however learnt is that you should really keep your funding threshold very low! It's a lot easier for people to back a project that has already succeeded, than backing a project that is still a long way off."

[zerocool]

Hi guys, 

 

Some more information: http://www.moneyweb....ruwig--md-ikubu

 

At the AGM, Keet van Zyl noted that Knife Capital/Grindstone has a first option to invest in any of the start-up companies going through the Grindstone Accelerator program and I believe they have a first option in the facilitation of any deal following the GA program. 

 

KC generally acquires 20-50% equity stake in a start-up when they invest (might be more) and I can only imagine that the same will apply when facilitating any transaction. 

 

I will keep my shares. 

 

 

 

 

 

[ajax]

Where did you get this information from? I saw iKubu was trying to raise money through crowd funding but did not reach the target -  I assume Grindstone was involved in these actions?  

 

That explains the reluctance to tell the market what their fee was. I wonder if it could be as much as a few hundred thousand Rand, a material effect on the price (value) of the Company’s securities? Enough to pay for the party an have some change!  

[ponzi]

Do you know that while Grindstone was nurturing iKubu an attempt to raise R 2 million funding was unsuccessful (September 2014).

 

Claim to fame; "Knife Capital is a Southern African growth equity fund manager and advisor focusing on innovation-driven ventures with proven traction. Through the utilisation of Knowledge, Networks & Funding we engineer growth and share in the upside of scalable African businesses."

 

It was not iKubu' aim to exit at this stage..... they were dealing with Garmin on a technology level and the transaction was a last port in a storm. With all the slaps on the backs and champagne flowing their (Knife Capital) proficiency must not be over rated.    

[Magnet]

No Sens and High volumes today im guessing the KC peoples buddies and buddies of buddies know exactly what is going on.

Sent from my GT-I8200 using Sharenet Sharechat mobile app

[ponzi]

Don't you think that there should be a Trading Statement Update Cautionary coming soon - they must surely know that their financials will be more than 20% ahead of expectations? 

 

It still is a very peculiar business model; unsecured lending with all the risks and an arm focusing on business exits for a fee with a bit of consulting income on the side.    

 

Will they have enough funding to cover;SARS (even with a settlement they will still need to pay SARS), National Housing Corporation Fund, Sandown Bond, cash owed to KC vendors and Grindstone operational expenses?     

[Goliath]

In the past ten days more than 13 million shares changed hands in the open market, who's buying? (Someone who knows something and building a position). Who's selling? (Someone who is made to believe that this business is a "dog" and is offloading them.) Let's  wait for the results to come out and we see what happens to the share price... watch this space. 

 

Hope you're right but given the info there is at this stage and the poor way the shareholders is kept in the dark = not a one to invest in at this point hence my gamble vote

[Fleetstroke1]

In the past ten days more than 13 million shares changed hands in the open market, who's buying? (Someone who knows something and building a position). Who's selling? (Someone who is made to believe that this business is a "dog" and is offloading them.) Let's  wait for the results to come out and we see what happens to the share price... watch this space. 

[ajax]

It would be really bad if some-one is buying with inside information of a deal or something. Then again nothing will surprise me! Buyers on merit of what is in the public domain is great whatever the price is. Their must be a new shareholder holding a substantial stake.

 

Think about it, Garmin paid an undisclosed amount for the iKubu technology and Afdawn received a 'deal fee'. This can by no means be the type of amount that can have a lasting positive bearing on the Afdawn value. What interest me is the disinformation that IT Web got from somewhere in that they said Grindstone or then KC was the seller i.e. they exited from the investment. Why don't the Afdawn Board repudiate this?            

[Goliath]

I should think by now the PSG group has acquired enough shares in  the open market for ADW to issues a SENS as to how much stake they (PSG) hold in the company. We cannot be treated like mushrooms.

 

Source..? If you don't mind..

 

Might be worth a gamble for those feeling wreckless at this stage..

[Fleetstroke1]

I should think by now the PSG group has acquired enough shares in  the open market for ADW to issues a SENS as to how much stake they (PSG) hold in the company. We cannot be treated like mushrooms.

Edited by Fleetstroke1, 20 January 2015 - 10:29 AM.

[battleship]

too true Magnet.

However , all the 2,6million offered this morning at 8c are sold.if 9c is breached then some sort of word is out.On the news we expect to hear in the very near future the share price should be 3c higher.

 

They must announce something when the hangover wears off

[Magnet]

These guys are having champagne in Franschoek like there's not a problem in the world.  Yet the shareholders know absolutely nothing.

[ajax]

I am not so positive that we will hear anything more from this transaction i.e. details. The more I look the more it seems that Grindstone was just assisting the iKubu shareholders to sell their technology to Garmin and that Grindstone received an unknown brokerage fee for the effort. (Grindstone was not a party to the transaction) 

 

Maybe one of the forum members that is close to Afdawn can help demystifying the situation? In order to understand the value contribution Afdawn shareholders should understand the expected upside- the 'material positive impact' that this will have on the share price. The one cent per R 8 million profit seems to be spot-on.  

 

The various Cautionaries and announcements during the last quarter of 2014 was maybe a way of navigating past the AGM as was the date and time of the AGM; Grindstone transaction (iKubu) the SARS settlement Cautionary which is now two months in agreement phase and the amazing Grindstone results whereby they announced that they have managed to double the value of 10 companies over a nine month period.