900 replies to this topic

[ponzi]

Hi Ajax

I read the same.Hence my comment that afdawns share may not be too small..However your comment is very relavant.When and what % of ikubu did they buy?And why not announce?And if so what stake in how many other businesses do they have?

 

This scenario does not befit a shareprice of 7c..

 

Battleship,

It seems that Garmin bought the iKubu technology - their press release? Did Afdawn/Knife Capital or Grindstone further developed the technology of iKubu through the nurturing process (since the acquisition)? I think that there should be more information forthcoming as this is a transaction which according to the the Afdawn Board will have a material positive effect on the price of the Company’s securities. As the income is non-recurring the profit from the deal is thus NAV related? (1 cent on the share price per R 8 million after tax gain from the deal?)            

[ponzi]

Well first transaction done and dusted. I am sure that as per the SENS the Board will bring out a full statement this week. A material positive effect clearly indicates that Afdawn will gain at least R16 million (2 cents per share from the deal?) The share price will factor the positive news. The transaction is an indication that the exit-centric model is working and I think we can look forward to other deals from Grindstone acquisitions. Buy 'low' nurture the company/technocrats and sell 'high'.

 

The cash will contribute largely to payments the company must soon make; SARS (R4 million?), cash payment to KC vendors (R1.4 million), NHCF (R4 million?), Sandown Bond payments and operational Grindstone operational expenses. 

 

4th December; "Shareholders   are    hereby  advised   that   Knife   Capital (Proprietary) Limited, a wholly-owned subsidiary of Afdawn, via its Business Accelerator Programme: Grindstone has entered into negotiations, which if successfully concluded may have a material positive effect on the price of the Company’s securities. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until a full announcement is made."

 

  

[battleship]

Hi Ajax

I read the same.Hence my comment that afdawns share may not be too small..However your comment is very relavant.When and what % of ikubu did they buy?And why not announce?And if so what stake in how many other businesses do they have?

 

This scenario does not befit a shareprice of 7c..

[ajax]

IT Web reported......"iKubu was directly sold by Knife Capital, which had been running the company under its Grindstone programme, which is a "year-long entrepreneurial development programme to assist post-revenue scalable innovation-driven businesses in accelerating strategy execution".

Knife Capital belongs to African Dawn Capital, which is an investment holding company that buys stakes in "entrepreneurial and innovation-driven companies with proven growth strategies". African Dawn did not provide a rationale for its exit from iKubu."

When did KC acquired the stake in iKubu? 

[ajax]

What is a substantial facilitating fee? Is this what the company will be - deal facilitators?  

 

This is not as per their Vision and the reason for the KC deal and Rights Issue....

[battleship]

the 4pm SENS on SARS  issues still in cautionary is what I highlighted on this forum on 13 /1/15 when chatting to Ajax.This hurdle which should be overcome soon will open the way for forward announcements.

 

Regarding the non movement on the shareprice today(though 4m traded)surprised me but then again no indication of how much afdawn made on the garmin deal was given. Its anyones guess but reading all the articles/announcements,  I suspect Afdawns share to not be small..

[battleship]

The 9/12/sens said of the deal........if successful may have a material positive effect on the price of the companys securities.

 

What they did sounds successful just google grindstone garmin .Again, we are in darkness.It also appears the big money went to the technology company..We will now see how smart the people we believe in really are.Share price interesting today and financials must come out.

[Shi]

Why not state the financials of this deal?

[stoffels]

The SARS announcement/CAUTIONARY clearly states that the settlement has been reached. On the 25th November; "Shareholders are   hereby  advised  that   Afdawn  received communication from South African Revenue Services (“SARS”) regarding settlement of tax obligations in terms of Section 200 of the Income Tax Act." and " Final agreements are currently being drawn up" 

 

So you feel everything hinges on this SARS settlement agreement that is now six weeks in the making!!! 

 

I really wonder about you, overlee supportive; Grindstone is a 'make believe' entity. Investing in many non-events hoping that they hit one that is of value?

 

But time will tell, I can't wait for the next episode and reason for not delivering as promised.   

 

iKubu (nurtured through grindstone) was just sold to Garmin -announced last night - the one of value from this make believe entity?

[Sugafoot]

SENS out today. Withdrawal of cautionary.

[ajax]

The SARS announcement/CAUTIONARY clearly states that the settlement has been reached. On the 25th November; "Shareholders are   hereby  advised  that   Afdawn  received communication from South African Revenue Services (“SARS”) regarding settlement of tax obligations in terms of Section 200 of the Income Tax Act." and " Final agreements are currently being drawn up" 

 

So you feel everything hinges on this SARS settlement agreement that is now six weeks in the making!!! 

 

I really wonder about you, overlee supportive; Grindstone is a 'make believe' entity. Investing in many non-events hoping that they hit one that is of value?

 

But time will tell, I can't wait for the next episode and reason for not delivering as promised.   

[ajax]

The SARS announcement/CAUTIONARY clearly states that the settlement has been reached. On the 25th November; "Shareholders are   hereby  advised  that   Afdawn  received communication from South African Revenue Services (“SARS”) regarding settlement of tax obligations in terms of Section 200 of the Income Tax Act." and " Final agreements are currently being drawn up" 

 

So you feel everything hinges on this SARS settlement agreement that is now six weeks in the making!!! 

 

I really wonder about you, overlee supportive; Grindstone is a 'make believe' entity. Investing in many non-events hoping that they hit one that is of value?

 

But time will tell, I can't wait for the next episode and reason for not delivering as promised.   

[battleship]

thanks for the feedback,Ajax

 

I hear you that the SARS agreement is currently being drawn up.It does not say its settled.I therefore believe the announcement of a deal will not happen till the announcement of settlement with SARS.

 

I also believe that once this has happened Grindstone will be a shareholder in many small upcoming companies which will grow exponentially as they will feed each others growth through the grindstone network.

 

This optimism makes me loyal.I really see great returns in 2015.

[ajax]

Battleship you are really a very loyal shareholder......the one thing that is going for Afdawn is that they have resilient and very faithful shareholders believing in all their acrobatics. Take into account that the Grindstone deal is being negotiated after a year long DD, how big can this transaction be? Just imagine the timeline for future acquisitions! 

 

On the 25th November; "Shareholders  are   hereby  advised  that   Afdawn  received communication from South African Revenue Services (“SARS”) regarding settlement of tax obligations in terms of Section 200 of the Income Tax Act." and " Final agreements are currently being drawn up" 

[battleship]

A few thimgs confuse /concern me.

1   The repeat of the cautionary implies that they cannot clinch the deal.Normally when announced,its  a forgone conclusion of happening.

     The fact we assumed the lending business would be sold for R35-40m and fell through caused much delay and concern.

 

2   A year ago they said the sars conclusion was sorted out and at the agm the repeated this and that going forward was subject to the sars conclusion.

     Why no announcement its concluded?

 

I do still have faith in the quality and accumin of the afdawn top brass,but really would like some positive concrete news.The shares are clearly stuck in the 7-8c range.some news must break the pattern.

[ajax]

A wild guess, possibly the iono.fm discussions? 4th December; Grindstone has entered into negotiations, which if successfully concluded may have a material positive effect on the price of the Company’s securities.

[Queen B]

RENEWAL OF CAUTIONARY ANNOUNCEMENT

Further to the cautionary announcement dated 4 December 2014,
shareholders are advised that negotiations are still in
progress which, if successfully concluded may have a material
effect on the price of the Company’s securities. Accordingly,
shareholders are advised to continue exercising caution when
dealing in the Company’s securities until a full announcement
is made.
 

[JR7800]

yusufm1: Thanks for your reply on Gijima.

 

 

 

[ajax]

Dear JR7800,

 

It is great that you are willing to mop up the overhang. I am trying to sell my last few shares at 8 cents but it seems that I will have to offer at 7 cents - I am part of the non-believers! That all said I think 7 cents per share may well prove to be a very good exit point. 

 

I really hope that you have some reason to be emotionally attached to the 'Board' - family, friends, privileged shareholder..... The outstanding cautionaries must surely be addressed soon? They must be very fresh and full of ideas by now.   

[yusufm]

Hi All

 

Hope you all had a great festive season and are well rested to make some serious money this year.

 

I would like to say to AFDAWN board, following your twitter accounts, it seem like you had a good rest as well so I expect great things from you this year.

 

Afdawn board, I know you are also invested in the company, so come now, lets make it a year to remember and build on.

 

To the people who do not share the believes in the company, thanks for your concerns, will take into consideration, but please, if you have shares, cut your losses and sell them cheap to us, so you can stop worrying about this share.

 

Hope everyone's share portfolio's does well this year.

 

(A bit off topic: Does anyone here have a opinion on GIJIMA, taking into account the share issue and consolidation.)

gijima is well known for value destruction. They have had a few share consolidations in the past few years, usually accompanied with a large dilution of share capital through share issues. Definitely not one I would like to be in long term