900 replies to this topic

[ponzi]

Did the anticipated Elite transaction go through? All the conditions met as per the SENS?

[Taurus]

dead quiet. big plans and no communication. That's the way to please your shareholders you asked for  funding. Very professional. I hope it pays your salaries.

See you guys on the buZZ.

 

T.

[ajax]

JR7800 you were at the AGM, same as last year. What I cannot understand is that shareholders grasp at any straw that JG dishes up. AD is what it is an empty shell. hat is the status with Elite deal and KC?

[JR7800]

So Green Oaks sale not going through. So everything back to square one. A surprise?.... not really.

 

So no sale = no money to pay SARS.

 

Just for once I would like to get some good news, instead of promises and dreams that keep on taking the wind out of everyone's sails.

 

Don't know anymore????

[ajax]

Very interesting; by now both the property and Elite transactions must be in the bed with key dates last week? If they pick problems up will they share with market?

Is the plan for payroll deductions legal? Lots of rumors around it, hope they don't again jump into the fire without an objective consideration of the status.

Knife Capital has almost no value 6 month PAT was R375k and they have since lost a key contract, AD will write R2 million off the paid goodwill (as per interim's). What will this do to the already fragile bottom line?

Have the Chairman gave any indication where the operational funding will come from? Rights issue with all major shareholders supporting it?

[JR7800]

So, was at the AGM on friday and took the following away from it.

 

- 2015 was a though year.

- SARS issue still is one of the top issues that needs to be settled this year. Being a  3 year issue it is time for closure. If the Green oaks sale can be finalised we can expect closure.

- Sandown loan can hopefully be paid on time and we can get this out off the books in reasonable time - if all goes well.

- New deal regarding micro finance via payroll deductions - think this is a great opportunity and the way to go for micro finance (lower collection cost on payment collections and reduced risk of bad debt)

- Not sue where KC stands anymore. I can only see the Directors of KC, having also resigned from AFDAWN board negotiating to become 100% owners of KC again. Hope AFDAWN board will keep KC revenues as part of AFDAWN as we have paid a heavy price to get KC as 100% subsidiary. We own the entity, keep it, and try and ensure the KC value flows to the AFDAWN shareholders, of which the KC directors are also shareholders.

 

To Jacques I just want to say good luck for 2016. We will be watching and waiting in great anticipation for AFDAWN to finally get some traction. 

[Taurus]

What did they do with the money raised previously?

Well, the Company has running costs of 24Mil a year if I remember correctly

[Pratlou]

What did they do with the money raised previously?

[Taurus]

The Bus photo was very nice. And I must say Helen looks immaculate. Not sure about the waterfront terrace. Seems a bit claustrophobic to my taste. But that's maybe just me, anyway. 

We will see if Afdawn can reclaim the shareholders trust. They need the moneys to thrive. That's what is in the kitty is the the float for 20 months of frugal business. So let's see if they can do it.

 

T.

Edited by Taurus, 15 January 2016 - 09:44 PM.

[Taurus]

nice presentation though. I wonder if everybody who attended was given the right to vote.

[ajax]

I am flying down to attend the AGM. I hope that what JR7800 says can be pursued... My guess they will just glorify the present situation. It will be very interesting to learn how the Board and management plan to create shareholders' value. Will shareholders demand action?

[JR7800]

Hi Ponzi.

 

Will definitely be there. I would also like to get some straight answers, as I think most shareholders would. So please AFDAWN board, don't let it be the same as last years AGM where we were told about all the great things and that everything was sorted out, only to have the shares suspended. Come clean, and show us your battle plan (just the truth,no BS included) of how this entity will survive.

 

And please, don't sell of Knife Capital for less than 10Mil cash to Knife capital directors. Let the directors (Knife cap) hold on to their shares until the share price up to at least the 10c where they got in, as I feel Knife Capital was part of the value destruction that took place.

 

Enough said, see you all on friday

[ponzi]

Cannot wait for the AGM. Any body else attending? I do not want to fight just get some straight answers.....Are the Board members going to 'pay back the money'?

[ponzi]

Cannot wait for the AGM. Any body else attending? I do not want to fight just get some straight answers.....Are the Board members going to 'pay back the money'?

[ajax]

I am almost out at an average loss of 8 cents per share! Would I believe in any statement by the Afdawn Board? Not likely. When I say circus I do not mean any disrespect to professional clowns at all.

Knife Capital boasts about them doing 'awesomeness' yet after 5 years they manage to make about R750k annualized NPAT. (as it is unknown what KC costs are hidden in holding company expenses this may even be lower..) Will you follow their guidance to make investment decisions? Can they be trusted with mentorship of other peoples businesses?

Personally I see no handle for business development and a new future...

[Pratlou]

.

Edited by Pratlou, 06 January 2016 - 01:07 AM.

[Pratlou]

The main shareholders as I can see it are the Directors. No one can touch them they also have the support of the non-executive Directors. Other shareholders must just wait and see. There are rumors that the company will be changed to 'financial services' entity and that KC will be sold off to the vendors. The changes will be another interesting episode with their new unknown BEE partners controlling Elite no funds for growth and yes no plan/model.

Let's not go away but enjoy the circus, we have paid for it!

Have you sold off or waiting for some more circus?

[ajax]

The main shareholders as I can see it are the Directors. No one can touch them they also have the support of the non-executive Directors. Other shareholders must just wait and see. There are rumors that the company will be changed to 'financial services' entity and that KC will be sold off to the vendors. The changes will be another interesting episode with their new unknown BEE partners controlling Elite no funds for growth and yes no plan/model.

Let's not go away but enjoy the circus, we have paid for it!

[ponzi]

Afdawn is doing incredibly well, trading 25% above NAV with no business plan or model and no growth opportunities.

[Shi]

With the share un-suspended, I would have thought that the volume would be higher from ppl dumping this share. It seems to be holding up okay for now.