900 replies to this topic

[ajax]

AFDAWN tweet; "AGM on Fr. will include the Statutory Activities as well as a Progress Update Presentation by Management."

 

If someone can ask them to explain Afdawn' new Knife Capital assets that they have bought for R10 million plus;    

 

These assets include:

• Ownership of the market presence to which entrepreneurs are drawn through the education activities of Knife Capital (please translate this!);
• The opportunity that this market presence presents to attract entrepreneurs whose businesses have good investment potential for Afdawn;
• The opportunity presented by the Grindstone activities to screen for businesses with good investment potential;
• The opportunity to make a step change in Afdawn' brand reputation in a manner that would contribute to Afdawn realizing its new vision; and
• Capabilities that, by virtue of how they are managed in an integrated way, will contribute meaningfully to Afdawn realizing its new vision.  

​They may even be bold enough to compare the above with other not for profit incubators. 

[Staghorn]

Maybe a stupid question, but every AGM I attended this far (which is not many) had different arrangements: do we need to take share certificates/proof of share ownership from your broker with to the meeting?

 

 

 

 

[ponzi]

Why would you say that? It is an investment in a very attractive SME and we can accept that it will happen soon as the DD has already been done over the past year.

 

The hot news is that the Chairman won't allow a disruptive AGM and shareholders should not try to use the AGM as a forum to forward negative agendas.   

[ajax]

Do you think that the Cautionary indicates towards an investment of sorts, I think it is a soft loan to one of the Grindstone beneficiaries? Grindstone is after all not the investment arm it is a not for profit education and lecturing platform - that is what they say. The Cautionary may indicates to a formal association with another early stage profit incubator?  

 

Afdawn has already in the SARS related cautionary of last week indicated that they are just waiting for a final agreement. -  "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."

 

 

[battleship]

Unfortunately cannot make CT for the AGM.

 

Regarding the shareprice.I just wish the sellers at 10c and11c would change to 12c sell.Many people should wish to have bought before the AGM.If they assure us SARS is sorted and they are investing(like we hope)the price should settle higher.

[JR7800]

Hi all

 

Is this correct for the AGM friday?

 

12 December 2014, at 09:00
at the company’s offices at 202 Waterfront Terraces, Waterfront
Road, Tygervalley Waterfront, Bellville, 7530, Western Cape

 

I just want to make sure what I have is correct, don't want to miss is.

[Staghorn]

ADW1, I am with you all the way on this one...

Ditto!

Sent from my SM-G800F using Sharenet Sharechat mobile app

[Fleetstroke1]

Journos are not entrepreneurs.... they are outsiders looking in. To belittle the champions of SA entrepreneurial development is just showing their quest for sentation.     

 

Let us all try to get as many journalists as possible to the AGM for the Chairman and CEO to share with them what they either don't want to understand or by virtue of their limited understanding of entrepreneur development are not able to understand how Knife Capital is changing the entrepreneurial landscape of the country. 

 

As this has now gone viral they are forced to react.

 

Battleship, Fleetstroke, LWVi, JR7800 and the other enlightened members please support the cause.   

ADW1, I am with you all the way on this one...

[ponzi]

Journos are not entrepreneurs.... they are outsiders looking in. To belittle the champions of SA entrepreneurial development is just showing their quest for sentation.     

 

Let us all try to get as many journalists as possible to the AGM for the Chairman and CEO to share with them what they either don't want to understand or by virtue of their limited understanding of entrepreneur development are not able to understand how Knife Capital is changing the entrepreneurial landscape of the country. 

 

As this has now gone viral they are forced to react.

 

Battleship, Fleetstroke, LWVi, JR7800 and the other enlightened members please support the cause.   

[ajax]

This astonishing tweet was posted by Andrea Bohmert ons of the Afdawn Directors yesterday; "How come that entrepreneurs understand the business model immediately and journalists don't? Non-profit? Really?"

 

​The 'entrepreneurs' or beneficiaries can see the business case as they are in a no lose situation. Show us the bacon...... the rest of us are baffled by the strange model. Very interesting is that they have changed the wording on the Grindstone web site, maybe LWVi or one of the other associates can shed light on this? Still free and applying scarce resources to build other people's businesses? Or do they now pay for the work done by Grindstone?

 

 

[ajax]

Talking up a dead horse, one cannot but wonder why!      

 

It will be very interesting to know if they plan to make an equity investment in one of the GS companies or just a soft loan? 

 

If it is indeed an equity investment as per their stated vision will it be at the company value before they have used Afdawn resources to double the value of the company or will they double pay - first donate free resource allocation and then to pay for value that they have created?

 

There are obviously a number of forum members that are very passionate about this peculiar business model; what do you think about the above?

 

A side bet - there are more unpleasant surprises forthcoming. The JP Morgan and Grindstone model is ideal as feel good projects but not an investment for returns model.    

[ponzi]

Only real competitor JP Morgan, but GS outcomes are much better and prove of the leading IP and management. Just imagine what the future holds with the ability to double company value within a year. All the negative opinions will disappear soon. Grindstone owns the market presence to which entrepreneurs are drawn to. See link and decide for yourself how dominant GS really has become. 

 

http://finweek.com/2...#comment-205533      

[battleship]

dear LWVi

your feedback is greatly appreciated and respected.I thought only ADW and myself we still positive chappies, but you look to be on our side.I have thought it out very clearly and only see the graph from now going north,very north.(I cannot see it going south).

 

The comments of the likes of queen B and co,I believe rere unfounded.

 

Just read PSJR7800 s comments and again fully agree.I respect Frans DK and believe the run to 18c will happen soon

 

Is Taurus still active or has the harvest been too good?

[ponzi]

Great understanding of a complex situation. Impeccable management team glad that some people at least understand that doing good overrides profits at all cost. The market will reward management and us for that.

[Fleetstroke1]

I am not sure where ADW fits best for discussion these days? Probably better in “Which is the Next Ten Bagger?”

 

I don’t know who of you got to read the article about Ford’s ex-CEO, Alan Mulally a while back? There might have been a few articles written on this, but the one I read was about how he borrowed $23,5 billion during the worldwide economic meltdown and turned Ford into a profitable business. At the end of the interview he was asked how he did it and when I think about his answer, I can’t help thinking that Afdawn is in the same development curve. He said they did it in 5 steps: (1) they faced reality, (2) they then did an honest and realistic assessment, (3) they established a compelling vision for the future, (4) they focussed on what they did best and (5) they plan and implemented.

 

For Afdawn, step 4 was even bolder – they changed the business model!

 

There are a few significant things in this story, but without getting too philosophical about all that – Mulally was appointed with Ford in 2006 and retired earlier this year, so it took him a few years to realise this strategy.  I think we are too impatient with what’s happening in the company right now. I have said it before, but to change the business model from lender to venture capitalist is easier said than done. It must take time to set-up and get things going. Even with KC on board (or as many would believe: Afdawn on board with KC?!) It does not matter, the two forces are now together and they are going to make things work. I believe the stuff that are being done now is the right things to create that solid base for future operations.  If you read what all the economists (Dawie R, Mike S, JP Landman and other finance guru's like Magnus H and Theo V) say, it is that South Africa need more entrepreneurs and this is where the Afdawn/KC combination is going to be “deadly and lethal”.

 

Yes, they have not done this perfectly and the “no news” was frustrating at times (even I wrote a letter to the CEO), but one thing is sure – they did not do nothing the past few months. The fact that Elite is now a positive income stream is (1) positive and as Battleship rightly said elsewhere, not a handbrake anymore and (2) it really says a lot about whoever did the turn-around. It shows there is good expertise in the company (and a will to turn this thing around!).

 

Financial statements…well one couldn’t really expect anything different from what it is, could one? It is just not possible to drastically swing this thing around in 6 months. But that will come...

 

All the developments the past few weeks/days…the DTI, the SARS issue, the cautionary…I cannot help to feel positive about all this. 

 

About the share price…I am not too worried about it for now.  Although NAV = ±7c, it is heavily driven by market sentiment. Fact is, volumes are up, many more deals take place per day and a while back that horrible and lengthy trend of 12million shares @ 5c and 6c was broken. That equals upward trend.

 

I am definitely supporting what’s happening now and my vote at the AGM will be for the board to continue what they do…

What an interesting perspective.....

[JR7800]

Hi all.

 

LWVi, well said.

 

Any one that have ever been involved in a turnaround or business restructuring will agree that to change the course of business are way more difficult than what is presumed the day that decision is made.

 

The silence from the board are never met with jubilation from the shareholders and staff. The question that must be asked, do we trust the skill and personal agendas of the board members.

 

I believe I do. There track record speaks for it self. Sure, there have been mishaps (moyo) but that happens, you are gonna get some wrong.

 

I sent question to Frans last night on stock watch. He said resistance at 9c and then 18/19c. He also agree that if positive news can push share above 19c, and consolidate there that the share price can run, but cautioned that this is a long term play.

 

As I presume we all do (investors/shareholders), we want fast,high returns, but I think patience in this case will be rewarded with great returns in the end.

 

So AFDAWN/KC board, I am watching you, giving you the benefit of the doubt, so please don't disappoint us, as it is our money supporting your dreams and visions.

 

Have a good weekend all. (except afdawn/kc board, you need to work)

[Staghorn]

I am not sure where ADW fits best for discussion these days? Probably better in “Which is the Next Ten Bagger?”

 

I don’t know who of you got to read the article about Ford’s ex-CEO, Alan Mulally a while back? There might have been a few articles written on this, but the one I read was about how he borrowed $23,5 billion during the worldwide economic meltdown and turned Ford into a profitable business. At the end of the interview he was asked how he did it and when I think about his answer, I can’t help thinking that Afdawn is in the same development curve. He said they did it in 5 steps: (1) they faced reality, (2) they then did an honest and realistic assessment, (3) they established a compelling vision for the future, (4) they focussed on what they did best and (5) they plan and implemented.

 

For Afdawn, step 4 was even bolder – they changed the business model!

 

There are a few significant things in this story, but without getting too philosophical about all that – Mulally was appointed with Ford in 2006 and retired earlier this year, so it took him a few years to realise this strategy.  I think we are too impatient with what’s happening in the company right now. I have said it before, but to change the business model from lender to venture capitalist is easier said than done. It must take time to set-up and get things going. Even with KC on board (or as many would believe: Afdawn on board with KC?!) It does not matter, the two forces are now together and they are going to make things work. I believe the stuff that are being done now is the right things to create that solid base for future operations.  If you read what all the economists (Dawie R, Mike S, JP Landman and other finance guru's like Magnus H and Theo V) say, it is that South Africa need more entrepreneurs and this is where the Afdawn/KC combination is going to be “deadly and lethal”.

 

Yes, they have not done this perfectly and the “no news” was frustrating at times (even I wrote a letter to the CEO), but one thing is sure – they did not do nothing the past few months. The fact that Elite is now a positive income stream is (1) positive and as Battleship rightly said elsewhere, not a handbrake anymore and (2) it really says a lot about whoever did the turn-around. It shows there is good expertise in the company (and a will to turn this thing around!).

 

Financial statements…well one couldn’t really expect anything different from what it is, could one? It is just not possible to drastically swing this thing around in 6 months. But that will come...

 

All the developments the past few weeks/days…the DTI, the SARS issue, the cautionary…I cannot help to feel positive about all this. 

 

About the share price…I am not too worried about it for now.  Although NAV = ±7c, it is heavily driven by market sentiment. Fact is, volumes are up, many more deals take place per day and a while back that horrible and lengthy trend of 12million shares @ 5c and 6c was broken. That equals upward trend.

 

I am definitely supporting what’s happening now and my vote at the AGM will be for the board to continue what they do…

Edited by LWVi, 05 December 2014 - 05:58 AM.

[ajax]

Hi ADW1 you are the one to help us here. You are always promoting that things are well and will happen - so you are right? LOL

 

I think you are sitting on the fence and just poking..... 

 

Share activity will be interested today; ip down or neutral. 

 

[ponzi]

Wow so I am very wrong, they are really movers and shakers.

 

The devil in me says - I nice way to get past the AGM. Don't ask questions re investments. We cannot talk about it but Grindstone has taken over the role of investment leg and we are considering a major deal!

 

On Friday .......The various factors together with ongoing efforts to sell legacy assets or alternatively to make them more ready for sale, has brought the company much closer to entering the investment phase of its strategy. Hereto the board has approved the first tranche of investment cash that can be allocated once the uncertainties with SARS have been resolved.

 

Between Friday and today they got clarity on SARS and moved forward with a deal to the extent that they feel it is eminent and in need of a Cautionary? Really great news.

 

The Paarl members of the forum must help us here - you are the closest to the Tygervalley offices.

[ponzi]

I knew things are about to happen. My guess is an investment of 25% plus in OKHULE........

 

Price today 12 cents per share?