900 replies to this topic

[Shi]

A cautionary? Yippee! Maybe an opportunity to get out?

[ajax]

Deliver as a fund manager (a banker of sorts) is completely different than deliver as an equity partner an entrepreneur? ADW is per definition entrepreneur-less. In the field of entrepreneurship one should accept risks for high rewards. The model that they are pursuing is a typical bank model. They conduct 9 month due diligences to get to know the companies and to hedge risks - and to miss the opportunity. Opportunity knocks at a specific time, it seems to me doing nothing is a strategy then you cannot go wrong. Rather buy RMB shares. 

 

Under their beat Moyo Group went belly up......much about their track record and expertise. 

 

As for great announcements at the AGM, I will not hold my breath. Their next big announcement is the 10 scale-up companies in the not-for-profit Grindstone model.   

[battleship]

1,4 mill traded today at mainly 8c.The next hurdle will be the outcome of the AGM.If the SARS finality is concluded they should advise via SENS,so I assume its still ongoing.Once this happens I believe the the business they do will begin.If something good needs investment, I believe this top executives team,will pull it off  through their credibility and track record.

 

I learnt to follow certain people through business,and believe adw will deliver.

 

And yes LWVI,you comments on the announcement would be nice.

[ponzi]

LWVI you promised to look through the announcement, it seems that you have good feel for Afdawn? What do you think? What do you expect from the AGM, any breaking news. The DTI support is a great step underpinning the Grindstone model?

[ajax]

If JM steps in he won't tolerate a business focused on not-for-profit divisions squandering scarce resources to boost the image of you know who! There is another listed company just waiting for the right moment to make a move on Afdawn; they apparently have a real turnaround plan that will exclude the present circus.

 

I just received a mail from a shareholder consortium wanting to put pressure on the Board to re-visit the KC deal as promises seems to just that empty promises. Something is going to happen at the AGM.     

[Fleetstroke1]

I cannot stop to wonder how much of AFDAWN shares does Jannie Mouton / PSG hold thus far??????

 

Any thoughts lingering in your minds?,,,,,,

[ponzi]

Expectations are beyond what Afdawn wants to achieve. Afdawn operate a non-profit platform (Grindstone) whereby SMEs are developed and made investment ready. Once this is done Afdawn and other investors can enter into negotiations with these companies for funding through unsecured loans. Afdawn/KC/Grindstone model is similar to J.P. Morgan's  two-year pilot programme for South African Small and Medium Enterprises (SMEs); the SME Catalyst for Growth Programme (C4G Programme).

 

Afdawn is per definition an unsecure growth equity fund manager and advisor focusing on innovation-driven ventures with proven traction.

 

​Profits will eventually come from the interest received on these unsecured loans. 

 

They may in future consider direct equity uptake in SMEs but do not have the capacity at this stage to do so. 

 

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

[battleship]

The overdue silence broke on Friday and I was very disappointed.I really expected the investents into luctative it companies to be in full swing.I also believed that the tax problem was sorted out ayear ago.I also believed the allegro cloud was gone but now we are told its still there but not a problem(?)

 

They say Elite is now in a positive cash flow basis.The assets are R61,9m divided by 880 mill shares equals 7cps.What confuses me is ,is the money to be paid to SARS part of theR61,9m ?

 

On the positive:

1 company is alive and well

2SARS problem appears almost resolved.

3The homework done to purchase into new companies is very advanced.

4Elite is not a handbrake anymore

 

My real hassle is that on facebook you see them on paddleboards and drinking champagne,but they are experts at telling you absolutely NOTHING.Since the results ,3 full months have gone by,and I expect they have started doing what we expected a long time ago.BUT WE HEAR NOTHING.

 

Todays trade at 7c with over a mill volume is positive.I believe 8c is todays correct value and when an announcement comes, the rapid run we expected will still transpire.In a nutshell we have sat in a 6 month void with great expectancy which should start from now.

 

I am not selling

[ajax]

ADW1....Have you changed your mind or just fooling around   . 

 

An investment company preserving cash from a Rights Offer to pay SARS wow management with a vision.

 

Surely the most amusing statement from the 'announcement' ......  

 

"The amount referred to as goodwill as required by IFRS refers to the amount paid by African Dawn for intangible assets which do not meet the requirements of IFRS for separate recognition. These intangibles are key to executing the new Afdawn vision and as such, were also a key consideration in the acquisition of Knife Capital. These assets include:

 

  - Ownership of the market presence (lol) to which entrepreneurs are drawn through the education activities of Knife Capital;

  - The opportunity that this market presence presents to attract entrepreneurs whose businesses have good investment potential

    for Afdawn; (really? Afdawn gets a mention.....)

  - The opportunity presented by the Grindstone activities to screen for businesses with good investment potential;

  - The opportunity to make a step change in Afdawn's 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." (is this English or what? JG (Afdawn CEO) once said when he was still on the investment side that he will not invest in a company if the management play with meaningless words, well Mr Groenewald what has changed? Queen B the circus goes on.  

 

A new take on ASSETS! And you only paid R10 million for all this......what a steal. 

 

[ponzi]

Afdawn management we know you are viewing this. Man up and address the misrepresentations. Wagging the dog.... CEO is a puppet of KC.  Why?

[Sugafoot]

QB, #dead# refers to me dead with laughter. It was a funny comment. More so cos I'm also invested in the share. <br /><br />Not aware that the clown is dead.

[Queen B]

Yes Sugafoot, Krusty the Clown may be dead, but I would rather invest my money in watching a dead clown than watching this ADW circus.

Kinda ironic that Krusty is dead. Much like this share.

Posts were made that we buy more at 7cents? I would rather have a full frontal lobotomy than buy more of these shares

[ajax]

Somehow ADW1 and LWVi read stuff into a BS announcement that nobody else can see. What exactly is management doing? I say again read/study the SENS announcements relating to the RI and KC deal. I would love to hear at the AGM how and when did they decide to change the motivation/rules (well...obviously after they took our money)? I am flying late afternoon on the 11th December from JHB to witness the 'egg dance'.  

 

I believe that there will be a contentious motion brought forward, will make an good media story.  

[Sugafoot]

I should have invested my money in watching Crust the Clown instead

#dead#

[Staghorn]

Had a quick read through the sens. Somehow it creates a lot of trust with me...

Changing the business model will necessarly take a significant amount of time, so I think we are maybe too impatient on this one. If one thing, management are working hard on many things....things I would say is necessary to build a solid base for the future. And I think management is doing it right this time round.

Will study the announcement in more detail later tonight, but for now there is no upsetting stuff in there.

Sent from my SM-T531 using Sharenet Sharechat mobile app

[ponzi]

Just look at the entrepreneurial skills and knowledge behind the firm. Everything has now been sorted and we must give the new management and Board adequate support to make magic - see the incredible Grindstone results, no other VCC can achieve such outcomes? Just read the announcement and appreciate the growth opportunities. 

[Queen B]

Buying opportunity?

Seriously?

[ponzi]

Big buy opportunity at 7 cents.  

[Queen B]

AGM should be interesting for those that are attending. This has become a circus share. I should have invested my money in watching Crust the Clown instead

[ponzi]

I hope all understand now what management and the Board are doing for shareholders - they are not sitting on their hands as suggested. They are building a strong platform with competent people and incredible know how and IP.  A vision is a longer term plan and we have accept that a new culture is being created, profits are not everything at this stage.