WDT - Wellington Drive Technologies

[percy]

6.0 mil loss, new order of 400.000 units and more to come. When will wdt become profitable
Posted by ekman 29-8-2007
Should be soon.
Must be 25 years of losses by now.

[Balance]

Posted by ekman 29-8-2007
Should be soon.
Must be 25 years of losses by now.

Ye of little faith, how fare thee against the fair winds they turn tempest due?

[percy]

Ye of little faith, how fare thee against the fair winds they turn tempest due?

Arorangi,Wellington,CADAC,WDT. The lost years.In this time Graham Hart has gone from Panel beater to billonaire.Over 25 years of losses.Even your old favourite hit oil.!!!! Faith? Lost causes.!
Love them to come right.Should they turn a profit I would most probably invest again.Have been out of them for 20 years or more. Fair winds??

[sharer]

"

WDT


02/11/2012 09:19


QUARTER





REL: 0919 HRS Wellington Drive Technologies Limited





QUARTER: WDT: Wellington Drive Technologies Third Quarter Trading





Wellington Drive Technologies Third Quarter Trading


End CA:00229253 For:WDT Type:QUARTER Time:2012-11-02 09:19:16


"
How stupidly ANNOYING !

Sorry for shouting. But why does NZX permit such useless "reporting" ?

[Balance]

" [TABLE="class: dgtbl, width: 100%"]

How stupidly ANNOYING !

Sorry for shouting. But why does NZX permit such useless "reporting" ?

Try this - https://www.nzx.com/files/attachments/166019.pdf

And remember - in sharemarket terms, WDT is spelled (spelt - thanks, Janner) 'DOG'.

[janner]

Balance says...

WDT is spelled 'DOG'.

Far to fine a word Balance for a complete MONGREL !!.. Had shares in this company when it came out of an Hydraulic Fittings company..

So long ago that I am unable to even pinpoint the era.. sold them off for about 6 cents.. or was it pence ??

What is the saying that P. T. Barnum is famous for ??.. and it ain't ROLL UP..ROLL UP..

[janner]

Actually Balance.. It is " spelt " :-)))

[Balance]

Actually Balance.. It is " spelt " :-)))

Thanks, I standed corrected!

[janner]

Hmmm..

You are correct as far as WDT is concerned.. IMHO..

You may now " standed downded "..

[craic]

WDT was part of the Strathmore company Which was originally Austrasian Breeding Stable. Stratmore actually "gave" theshares to their shareholders at the time. I was one. They were up around 70cps at the time and great hopes for their future the level of bull**** has been sustained for years. I sold out years ago.

[craic]

My message was meant toc be a reply to the above but the heat is doing funny things to me.
Balance says...

WDT is spelled 'DOG'.

Far to fine a word Balance for a complete MONGREL !!.. Had shares in this company when it came out of an Hydraulic Fittings company..

So long ago that I am unable to even pinpoint the era.. sold them off for about 6 cents.. or was it pence ??

What is the saying that P. T. Barnum is famous for ??.. and it ain't ROLL UP..ROLL UP..

[emearg]

WDT was a dog. Lost plenty of money myself but just having another look now to see if putting a little more money in might make sense. I think to do so now would be premature but I am looking forward to their next report. The new management and approach may turn this ship around...

[winner69]

still losing money ... at least they now sell things for more than the cost of the bits and pieces that go into them .... thats progress ...... but margins still a long way off from covering all the other costs

graeme spelt backwards ........ i sense a great level of excitment emantating from your direction ..... keep it under control mate

liz -- your morbid fascination with wdt going to make you do another detailed analysis?

[sharer]

still losing money ... at least they now sell things for more than the cost of the bits and pieces that go into them .. thats progress .. but margins still a long way off from covering all the other costs ...

While it may be pleasing to see the loss is about halved this year's result still means millions of dollars lost are still increasing the by now huge amount of money lost.
There must be a correspondingly long long time before any profits, so far not happening, will have to happen for before dividends might become reasonably possible.
So must agree with W69's comments. Gentlemen, please hold on to your wallets !

[winner69]

While it may be pleasing to see the loss is about halved this year's result still means millions of dollars lost are still increasing the by now huge amount of money lost.
There must be a correspondingly long long time before any profits, so far not happening, will have to happen for before dividends might become reasonably possible.
So must agree with W69's comments. Gentlemen, please hold on to your wallets !

retained earnings / accumulated losses now $99m .... i am sure they tried their best to break the $100m mark

Sorry .... $99,006,000 to be exact

[Anna Naum]

New CEO, big drop in reported loss, talking another decline in loss this year and B/e next year. Sure they have to deliver but in reading the report they have done a lot to improve the situation in the last 12 months.

Remember its the companies that have been dogs and then get new management that sometimes provide investors with the best returns....look at Skellerup, Hellabys as examples.

Yes I have been a holder for some time but when I read this years report it does have a refreshing tone to it that has not be evident in the past. Rather than promising, they actually review what they said they would do and how they have done, before detailing the path for the next 12 months.

[emearg]

graeme spelt backwards ........ i sense a great level of excitment emantating from your direction ..... keep it under control mate

Don't worry I'm completely under control. I have no intention of buying any more shares in WDT at this point. It is good to see the situation improving though. This is what we were promised, and with the new people in charge the promises are being delivered upon.

The big question of course is can they keep improving the situation to the point where a profit is produced? At that point it will be worth thinking about.

And then we will want to see the situation improve to the point where the profit is large enough to justify having more money invested.

[percy]

New CEO, big drop in reported loss, talking another decline in loss this year and B/e next year. Sure they have to deliver but in reading the report they have done a lot to improve the situation in the last 12 months.

Remember its the companies that have been dogs and then get new management that sometimes provide investors with the best returns....look at Skellerup, Hellabys as examples.

Yes I have been a holder for some time but when I read this years report it does have a refreshing tone to it that has not be evident in the past. Rather than promising, they actually review what they said they would do and how they have done, before detailing the path for the next 12 months.

Well that would be great to see wdt become a profitable company.Have watched it now and again after selling out about 20 or more years ago. Maybe I sold too soon.!!!! lol.

[brucey09]

Snrs.
Life afyer green will be good

[Lizard]

I finally got around to reading the report.

While I agree that current management provide new hope that WDT may one day be profitable, it really is still a tough picture. It feels like about the 4th consecutive report where WDT have suggested they would be profitable "the year after this one"... still a pretty wobbly mirage on the horizon. Improving margins at the expense of sales is a fairly short term strategy if it still doesn't result in profits.

The problem for this year is that they will no longer be freeing up working capital from inventory reduction. So back to scraping around for cash and likely to burn through at least $5m based on their forecasts - maybe worse if they need to further increase working capital to support sales growth (although, as I read note 2, they either are or will be using debtor factoring to reduce working capital). Either way, yet more dilution to come - possibly through the strategic partner they are still seeking. At current market cap, they seem unlikely to get enough funding without substantial dilution requiring shareholder approval - maybe 50% more shares?

Another tough year.

[Balance]

Can you believe that this company was trading equivalent of $6.95 in 2007?

Now 15c!

[brucey09]

Snr. Lizard . Life after green.

[Balance]

Snr. Lizard . Life after green.

Sp is the lowest ever.

Life not so green after all?

[GR8DAY]

.......hmmmmmm ......TRADING HALT.......this cud be interesting, GOOD NEWS/BAD NEWS?? POSSIBLY ANNOUNCING THEIR NEW STRATEGIC PARTNER??

[brucey09]

Snrs.
As you say "what is the crutch of this" halt?

[Balance]

Snrs.
As you say "what is the crutch of this" halt?

Capital raising?

[sharer]

Capital raising?
Wheee!
More dilution.
Never mind, wallet's about empty anyway.

[Balance]

.......hmmmmmm ......TRADING HALT.......this cud be interesting, GOOD NEWS/BAD NEWS?? POSSIBLY ANNOUNCING THEIR NEW STRATEGIC PARTNER??

Two pointers :

1. Cash was down to $1.9m as at 31 December. Prudent suppliers of goods and services to the company will all be requiring cash or bank LC before supplying.

2. Sp was trending lower and lower.

[Stranger_Danger]

Loses money and constantly needs more.

Oops, sorry, thought I was in the XRO thread.

Poor old WDT holders. They're probably wondering why they can't, too, have a money losing billion dollar company.

[Novitiate]

Poor old WDT holders. They're probably wondering why they can't, too, have a money losing billion dollar company.


Just glad the smile I get from XRO (been holding for years) is bigger than the despair and frustration I get from WDT (been holding for even longer)

[Stranger_Danger]

Novitiate. Question. What do you regard as the difference between the two shares?

[janner]

Novitiate. Question. What do you regard as the difference between the two shares?


Easy question to answer..

One is going up.. One is STILL going nowhere. :-))

[Stranger_Danger]

Oh, so nothing to do with businesses then. Got it. :)

[Novitiate]

Novitiate. Question. What do you regard as the difference between the two shares?


Business model. Quality of management. Marketing. While both companies appear to have products that are well received, Xero is putting effort into expanding its customer base. Xero certainly seem to have been hiring bigtime lately, so I would want to see some excellent customer growth in their upcoming operating update. Hopefully the increased losses indicated in the last interim report will be mitigated by outstanding customer growth! With their concentration on selling to accountants, the possibility for exponential growth to flow through as the accountants' customers adopt Xero seems very promising. Will keep watching closely, but so far I'm glad that I have kept my finger away from the SELL button, as there has never been enough of a pull back to have made it worthwhile.

[Balance]

Two pointers :

1. Cash was down to $1.9m as at 31 December. Prudent suppliers of goods and services to the company will all be requiring cash or bank LC before supplying.

2. Sp was trending lower and lower.

Capital raising - totally as expected.

Capital raising and this time runs, will have SuperLife (bravely going where other Kiwisaver providers do not dare venture) increasing its stake above 20%.

[CJ]

Capital raising - totally as expected.

Capital raising and this time runs, will have SuperLife (bravely going where other Kiwisaver providers do not dare venture) increasing its stake above 20%.I am getting concerned with my kiwisaver provider. You dont double down unless you have have a great hand and I dont consider WDT a great hand.

Might move funds again

[Balance]

I am getting concerned with my kiwisaver provider. You dont double down unless you have have a great hand and I dont consider WDT a great hand.

Might move funds again

Why does Superlife care? It's not their money and so far, so wrog so what's another few million dollars?

[CJ]

Why does Superlife care? It's not their money and so far, so wrog so what's another few million dollars?No its my money (as a kiwisaver investor)! I assume it is their NZ equity fund that is doing the investing.

[J R Ewing]

All very well to criticize Superlife, but the placement of such a significant portion of shares at a price that is not a big discount to market is a pretty good result for WDT. They have obviously convinced Superlife that they are on track to turn the business around. If I was a WDT holder, I think I would be very happy with this placement overall.

[CJ]

If I was a WDT holder, I think I would be very happy with this placement overall.As a WDT holder, it is one of the few things you can be happy about ;)

HOpefully, for all involved, Superlife has picked the bottom and is not catching knives.

[Anonymous]

No its my money (as a kiwisaver investor)! I assume it is their NZ equity fund that is doing the investing.

And their NZ investments are managed by Forsyth Barr so the question really is, do forbar know what they are doing...?

[percy]

And their NZ investments are managed by Forsyth Barr so the question really is, do forbar know what they are doing...?

Just when you thought things could not get worse,they did.
RUN. They were 'well positioned' for the upturn 20 years ago.Tougher world today.
RUN far and fast.!!!!

[Balance]

All very well to criticize Superlife, but the placement of such a significant portion of shares at a price that is not a big discount to market is a pretty good result for WDT. They have obviously convinced Superlife that they are on track to turn the business around. If I was a WDT holder, I think I would be very happy with this placement overall.

Hmm... it was only in Sept last year that Superlife stumped up with $2m at 15.5c to keep WDT going. Now it's 13c.

Good for WDT?

Only time will tell but the history to date is not great, is it?

Was the $60m raised at 65 cents ps good for Rakon 2 years ago?

[J R Ewing]

Hmm... it was only in Sept last year that Superlife stumped up with $2m at 15.5c to keep WDT going. Now it's 13c.

Good for WDT?

Just as the $60m raised at 65cents was good for Rakon 2 years ago?

Well, if you are invested in a company that posts losses for year after year, the best you can expect is dilution until it turns around. This placement doesn't dilute existing holders too badly, and without it the alternative would be a nice big rights issue, which would seriously dilute any holders that didn't stump up with the $$ required. So I guess as things go this is very much the lesser of evils.

[winner69]

Superlife's investment on MAD must be in the money by now

Maybe they are working on a strategic alliance between the two .... or maybe get them to merge

The new company could be called MAD ENERGY DRIVE TECNOLOGY

Then have an IPO and heck more than a few million .... tens of millions in the bank

[Balance]

Well, if you are invested in a company that posts losses for year after year, the best you can expect is dilution until it turns around. This placement doesn't dilute existing holders too badly, and without it the alternative would be a nice big rights issue, which would seriously dilute any holders that didn't stump up with the $$ required. So I guess as things go this is very much the lesser of evils.

Dilution?

I guess those who participated in the oversubscribed rights issue of May 2007 and January 2009 at $2.00 per share would debate that with you?

Likewise, those who participated in the 25 cps rights issue in Jan 2011.

* numbers adjusted for 1:20 share consolidation in June 2011.

[Balance]

BTW, worthwhile reading about SuperLife :

http://www.fma.govt.nz/keep-updated/newsroom/media-releases/2011/warning-fma-warns-superlife-in-relation-to-kiwisaver-sales-practices/

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10838168

Make you feel very confident about this outfit's ability to make sound, rational and well adjusted investment decisions?

[J R Ewing]

Dilution?

I guess those who participated in the oversubscribed rights issue of May 2007 and January 2009 at $2.00 per share would debate that with you?

Likewise, those who participated in the 25 cps rights issue in Jan 2011.

* numbers adjusted for 1:20 share consolidation in June 2011.

I'm not quite sure what you mean. The way I see it is that if I invested in a company that was posting losses year after year (and had no significant reserves or assets), then if it is to remain afloat funds have to come from somewhere. If I am not putting more money in then someone else is, in which case dilution is inevitable.

[sharer]

BTW, worthwhile reading about SuperLife :
http://www.fma.govt.nz/keep-updated/newsroom/media-releases/2011/warning-fma-warns-superlife-in-relation-to-kiwisaver-sales-practices/
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10838168
Make you feel very confident about this outfit's ability to make sound, rational and well adjusted investment decisions?

After immediate favorable market reaction to new capital, s.p. seems to be settling back to our previous level, somewhat desperate but ever hopeful as we are.
Thanks Balance for the cautionary posts - possibly qualifying as an early Insider Rort Alert. Your knighthood nomination should be in the mail soon.
It is unsettling to find who has climbed into bed with us.
Still hoping to see a good invention eventually become profitable, but like some other early supporters no doubt, i'm just hoping enough new enthusiastic optimists can lift the price to a level where i can escape from the now rather menacing bedclothes to tiptoe out of the house with my shirt tails still discreet and dignified.

[Awamoa]

I have received yet another invitation to waste more money supporting WDT.I have refused probably the last three offers and will refuse any future offers until the company proves itself.
One way it could save is to pay Directors and staff based on profit.

[Balance]

I have received yet another invitation to waste more money supporting WDT.I have refused probably the last three offers and will refuse any future offers until the company proves itself.
One way it could save is to pay Directors and staff based on profit.

You sure you want to refuse this outstanding offer?

This could very well be the one capital raising which turns the company around and make it a billion dollar enterprise.

Remember the story of the boy who cried wolf?

Sure WDT has cried 'just around the corner' 10 times but this could be the one time?

[emearg]

New management and new strategy are delivering improved results. This new guy actually seems capable of running a global business. What you think? Please feel free to keep the sarcasm to a minimum...

Wellington Drive Technologies first quarter 2013 update3:19pm, 30 Apr 2013 | QUARTERAuckland, New Zealand - Wellington Drive Technologies (NZX:WDT), a world leader in energy efficient motor, airflow and refrigeration solutions today announced financial results for the first quarter ended March 31, 2013.
First Quarter 2013 Highlights (NZ Dollars)
(All figures below are derived from Wellington's unaudited management accounts):
o Gross Margins of 16.8%, consistent with the company's gross margin improvement plans. This is an increase on the 12.9% level achieved in first quarter 2012, and Wellington's best ever quarterly performance.
o Revenue: $7.6 million compared to $11.5 million in Q1 2012. This performance is on track to our full year guidance of between $30 million and $33 million. The year over year decrease is due to the exit from the unprofitable Zhiel-Abegg Ventilation business.
o EBIT loss of $944k, beating our operating plan expectations by $338k. This is reflective of the cost control and cost reduction programs underway and an improved sales mix with major customers.
o Inventory turns of 5.6 (on a rolling 12 month basis) compared to 4.7 in the same quarter 2012. This is consistent with our expectations and our on-going focus on working capital velocity. Closing inventory of NZ$3.2m, down from NZ$4.5m at end December.
o A $1.2 million reduction in net working capital that has been used to repay bank financing.
"Wellington's first quarter performance was pleasing and consistent with our expectations. Our gross margin performance was a record for us and we believe shows we are on the right path to achieve our 2013 target of between 18% and 20%. With the global economic outlook expected to remain challenging, particularly demand pressures in Europe, we continue to focus on solid execution and innovation for our customers, improving our financial performance through cost improvements and effectively managing working capital and resources to support our longer term growth goals," said Greg Allen, Wellington Chief Executive Officer.
Management Discussion and Analysis
Wellington had a very good first quarter performance with revenues and margin in line with the company's operating plan expectations and on track to published guidance for the 2013 year. A gross margin performance of close to 17% coupled with operating cost performance for the quarter of $2.1m reflect tight control of all aspects of group expenditure and with a reduced depreciation and amortisation charge, delivered an EBIT outcome that was better than the company's operating plan expectations by $338k.
Revenues of $7.57 million were below the $11.5 million achieved in the same period for 2012; however when adjusted for the exit of the Ziehl-Abegg ventilation business they are relatively flat year on year. Revenues are in line with our growth plans and reflect commercial refrigeration volume growth of 3.4%. Our margin of 16.8% was well ahead of last year's 13.4% achieved in 2012, demonstrating our continued focus on managing customer sales mix and supply chain cost reductions. The average US$/NZ$ exchange rate for the first quarter was 0.826US$/NZ$, our guidance continues to assume a 0.85 US exchange rate.
Geographically we experienced weaker than expected demand from most European customers. This European demand weakness was in part offset by strong demand in Latin America and we expect these demand dynamics to continue in the coming quarters. We are comfortable with the business development progress in our main regions and the pedigree of the existing customer portfolio. Our Intelligent Solutions business strategy is starting well, and in the first quarter we shipped our first Intelligent Control Solution prototype to a major global beverage brand.
The Strategic Partner program is continuing well with several discussions held with possible partners in technology and marketing collaboration. The company expectation continues to be that through the course of 2013 this Strategic Partner program will result in a successful outcome for the business and shareholders.
Business Outlook
Wellington's latest revenue forecast is in line with the $30 million to $33 million guidance given in the 2012 annual report. Margin expectations are also on track to the stated guidance targets with a gross margin outlook of between 18% and 20% and an EBITDA loss of less than $3 million. It is pleasing that despite the revenue pressures the company is seeing the outlook continues to be for a consistent margin improvement performance. The global economic outlook remains challenging and while we are pleased with the strength we are seeing in our Latin American markets we continue to manage through the lack of visibility and weakness in our European end market.
The company's focus continues to be on its five main priorities; Market Expansion through Deeper Value Added Relationships with Customers, Shortening Customer Lead-times, Cost Reduction, the Strategic Partner Program and Strengthening the Company Resources to support long term growth goals.

[sharer]

Yes retrograeme i agree with you, optimistic as ever ...
But, it will take actual real money profit required before i loosen the grip on the wallet.

[Snow Leopard]

... Please feel free to keep the sarcasm to a minimum ...


Hoping for a EBITDA loss of less than $3M. That's good.

Best Wishes
Paper Tiger

[winner69]

Hoping for a EBITDA loss of less than $3M. That's good.

Best Wishes
Paper Tiger

World leader they are

[Balance]

SPP raises 51% of money.

Hope the punters know what they are in for?

[emearg]

I kept my cheque book closed, but am liking their improving results. What they need (obviously) is to stop losing money and make some. Enough to justify investing more in them. At that point I'd be happy to average down a bit. Looks like I've learn't a lesson. An expensive one unfortunately.

[Balance]

I kept my cheque book closed, but am liking their improving results. What they need (obviously) is to stop losing money and make some. Enough to justify investing more in them. At that point I'd be happy to average down a bit. Looks like I've learn't a lesson. An expensive one unfortunately.

I met Ross Green over 10 years ago at a broker's presentation by WDT.

He was talking gigantic upside then and turnaround just a year away - while asking for more money!

So WDT's drive towards profit is 10 years closer?

:D :D :D

[percy]

I met Ross Green over 10 years ago at a broker's presentation by WDT.

He was talking gigantic upside then and turnaround just a year away - while asking for more money!

So WDT's drive towards profit is 10 years closer?

:D :D :D

Did not realise you are a bit of a "new boy" to WDT Balance.?
They had their presentation pretty well polished by then as they had been "well positioned for a turnaround in a year" for the previous 12 to 15 years.
The more things change,the more they remain the same.!!! lol.

[janner]

Why invest in this company ??..

Is that not a reasonable question ?.

It does not send out any TA signals.. and certainly does not meet any FA requirements..

Disc.. Held some about 25/30 years ago.. Long.. Long.. Long time out of it..

[percy]

Why invest in this company ??..

Is that not a reasonable question ?.

It does not send out any TA signals.. and certainly does not meet any FA requirements..

Disc.. Held some about 25/30 years ago.. Long.. Long.. Long time out of it..

Me too.!!!!! Enzed Technolgy,Aorangi ,Cadac etc.
Just thinking ,they have made losses for so long could they register with the IRD as a charity.????????????????????!!

[Balance]

Did not realise you are a bit of a "new boy" to WDT Balance.?
They had their presentation pretty well polished by then as they had been "well positioned for a turnaround in a year" for the previous 12 to 15 years.
The more things change,the more they remain the same.!!! lol.

And Ross Green kept paying his executives and himself very generously - as befits a company on the verge of making it BIG! :( :( :(

[janner]

Me too.!!!!! Enzed Technolgy,Aorangi ,Cadac etc.
Just thinking ,they have made losses for so long could they register with the IRD as a charity.????????????????????!!

And the buggers would get it :-))

[janner]

Ross Greens " Apostles" Must be the Robinsons..

[percy]

And Ross Green kept paying his executives and himself very generously - as befits a company on the verge of making it BIG! :( :( :(

Yeah Right.!!! lol

[percy]

Ross Greens " Apostles" Must be the Robinsons..

Love it.!!!! lol

[Anna Naum]

For the last 18 months the company has been run by Greg Allen who has reduced inventory by nearly $10m to $3.5m (approx), he has reduced the loss from a unbelievable $14.5m to a projected less than $3m this year, he has increased stock turnover from 1x to more than 6x, and he has increased GM from 2% to 16%.

Do not get me wrong these 'improvements' do not make this a 'good' company yet and are the sort of numbers one would have expected from the beginning but the change and the trend are cause for consideration.

So for the last 18 months he has delivered most of what he has said in the AR he would deliver....to my way of thinking (and my cheque book) he is taking a much improved and new route for the company.

Yes we can all see the multiple of mistakes made by WDT but right now I think there is change going on. If one believes the new CEO and his statements about how WDT will see the year out then to get to the 18-20% GM needs then to be coming out of his year with GM nearing 25%.

Not out of the woods yet but I see this company as no longer being the basket case it has been for so long.

[percy]

For the last 18 months the company has been run by Greg Allen who has reduced inventory by nearly $10m to $3.5m (approx), he has reduced the loss from a unbelievable $14.5m to a projected less than $3m this year, he has increased stock turnover from 1x to more than 6x, and he has increased GM from 2% to 16%.

Do not get me wrong these 'improvements' do not make this a 'good' company yet and are the sort of numbers one would have expected from the beginning but the change and the trend are cause for consideration.

So for the last 18 months he has delivered most of what he has said in the AR he would deliver....to my way of thinking (and my cheque book) he is taking a much improved and new route for the company.

Yes we can all see the multiple of mistakes made by WDT but right now I think there is change going on. If one believes the new CEO and his statements about how WDT will see the year out then to get to the 18-20% GM needs then to be coming out of his year with GM nearing 25%.

Not out of the woods yet but I see this company as no longer being the basket case it has been for so long.

First of all I wish you would post more often.
Although I have had a bad experience with this company [along time ago] ,all credit must be given that they have stuck with it.
I trust you will keep us updated.

[whatsup]

Meeting today , anyone going and what news will be spoken, "light at the end of the tunnel" can mean a train, glow worm or day light, what will it be this year considering that the recent c r bombed.!!

[Anna Naum]

Not sure if I would say if was a failure, after all they raised $4.5m with $4m coming from Institutional shareholders.

[janner]

Not sure if I would say if was a failure, after all they raised $4.5m with $4m coming from Institutional shareholders.

That is plural Anna.. Just chump change to them. Only $500,000 coming from the " Believers "..

[Balance]

Not sure if I would say if was a failure, after all they raised $4.5m with $4m coming from Institutional shareholders.

Probably one institution?

[Anna Naum]

Come on Balance you are normally better informed than that. ACC, Harbour, Superlife, Professional Investors for the $4m and $500k from the SPP.

[janner]

So we are in agreement Anna.. Chump Change from the Insto's.. Pathetic support from the Believers..

Still worth watch though.. May be able to recover my 6 cents ps. invested 25/30 years ago..

What say you Perc ??..

[percy]

So we are in agreement Anna.. Chump Change from the Insto's.. Pathetic support from the Believers..

Still worth watch though.. May be able to recover my 6 cents ps. invested 25/30 years ago..

What say you Perc ??..

Yes 6 cents sounds about right.Was it Aorangi then?
Would love them to come right.!!

[Anna Naum]

So we are in agreement Anna.. Chump Change from the Insto's.. Pathetic support from the Believers..

Still worth watch though.. May be able to recover my 6 cents ps. invested 25/30 years ago..

What say you Perc ??..

So they set out to raise $4m, they got $4m, and then announced they would offer all current shareholders the chance to invest @ the same price and raised a further $500k. Might be chump change to some, seems like reasonable $$$ to me.

I attended the AGM today. In depth presentation from the Chairman and CEO, my observations:
GP now 17% still talking 18-20% for the FY and later on in the presentation they suggest 20%. Next year talking 25%
Loss this year less than $3m, next year break even.
FX assumption 85c to USD and $100k +/-ve per 1c movement
Strategic partner negotiations continue.
Euro zone difficult, Latin America storming

A very interesting show and tell after the formal meeting of the new ICS unit, specific mention of Coca Cola.

So the CEO has now been in place for 18 months and continues to deliver on what he suggests. 12 months out break even and then a profit, hopefully a strategic partner and ICS coming online....might be interesting. Time will tell.

[janner]

So they set out to raise $4m, they got $4m, and then announced they would offer all current shareholders the chance to invest @ the same price and raised a further $500k. Might be chump change to some, seems like reasonable $$$ to me.

I attended the AGM today. In depth presentation from the Chairman and CEO, my observations:
GP now 17% still talking 18-20% for the FY and later on in the presentation they suggest 20%. Next year talking 25%
Loss this year less than $3m, next year break even.


FX assumption 85c to USD and $100k +/-ve per 1c movement
Strategic partner negotiations continue.
Euro zone difficult, Latin America storming

A very interesting show and tell after the formal meeting of the new ICS unit, specific mention of Coca Cola.

So the CEO has now been in place for 18 months and continues to deliver on what he suggests. 12 months out break even and then a profit, hopefully a strategic partner and ICS coming online....might be interesting. Time will tell.

Yes indeed Anna.. Time will tell.. Again and again and again we hear this.. Shades of Rakon.. Or is WDT putting Rakon in the shade ??..

NO !!.. WDT has been going longer than Rakon.. The biggest losers are ... WDT !!..

Thank you for your break down..

[Anna Naum]

Yes indeed Anna.. Time will tell.. Again and again and again we hear this.. Shades of Rakon.. Or is WDT putting Rakon in the shade ??..

NO !!.. WDT has been going longer than Rakon.. The biggest losers are ... WDT !!..

Thank you for your break down..

Well for the last 18 months both RAK and WDT have been making statements about the path forward.....one companies statements have been wrong and they currently seem to need refinancing while the other has delivered what it said it would do and is refinanced.

[janner]

Well for the last 18 months both RAK and WDT have been making statements about the path forward.....one companies statements have been wrong and they currently seem to need refinancing while the other has delivered what it said it would do and is refinanced.

Re-financed .. not by me.. not by percy.. not by any one on this site.. that is aware of WDT's problems,,

[Anna Naum]

Re-financed .. not by me.. not by percy.. not by any one on this site.. that is aware of WDT's problems,,

So you are suggesting you speak for the site. We will see, one of us will be right, of that we can agree.

[GR8DAY]

So you are suggesting you speak for the site. We will see, one of us will be right, of that we can agree.


.......and I for one suspect ANNA you will be completely.........right! The recovery story is starting to build (admittedly from a low base), however the signs are there for all to see including the latest take-up by EVERY DIRECTOR OF THEIR FULL ENTITLEMENT...........in some cases many 100,000's of shares.......surely the most encouraging sign yet of the current turnaround. In my opinion these are the stories to make money on.........remember these shares were once the equivalent of $4 or $5 I believe......that's a huge OUCH! for some but equally a HUGE OPPORTUNITY NOW for others.

[Balance]

.......and I for one suspect ANNA you will be completely.........right! The recovery story is starting to build (admittedly from a low base), however the signs are there for all to see including the latest take-up by EVERY DIRECTOR OF THEIR FULL ENTITLEMENT...........in some cases many 100,000's of shares.......surely the most encouraging sign yet of the current turnaround. In my opinion these are the stories to make money on.........remember these shares were once the equivalent of $4 or $5 I believe......that's a huge OUCH! for some but equally a HUGE OPPORTUNITY NOW for others.

That's what they were saying about Rakon at 40 cents, and Provenco at 10 cents.

[Anna Naum]

That's what they were saying about Rakon at 40 cents, and Provenco at 10 cents.

We will see, one of us will be right, of that we can agree.

[Balance]

.......and I for one suspect ANNA you will be completely.........right! The recovery story is starting to build (admittedly from a low base), however the signs are there for all to see including the latest take-up by EVERY DIRECTOR OF THEIR FULL ENTITLEMENT...........in some cases many 100,000's of shares.......surely the most encouraging sign yet of the current turnaround. In my opinion these are the stories to make money on.........remember these shares were once the equivalent of $4 or $5 I believe......that's a huge OUCH! for some but equally a HUGE OPPORTUNITY NOW for others.

One director took $15,000 worth, the others took $2,000 to $5,000 - I am so UNDERwhelmed!

If the directors really believe, they would have taken hundreds of thousands as they can access placement stock.

Fact is, they are paid hundreds of thousands of dollars in salaries and benefits every year so why not put in a few bob as a sign of good faith - and it looks like it worked a treat!

[GR8DAY]

One director took $15,000 worth, the others took $2,000 to $5,000 - I am so UNDERwhelmed!

If the directors really believe, they would have taken hundreds of thousands as they can access placement stock.

Fact is, they are paid hundreds of thousands of dollars in salaries and benefits every year so why not put in a few bob as a sign of good faith - and it looks like it worked a treat!


......GOT A BIT BURN'T DID WE BALANCE??? (oh no, not $4-$5?!!)........nows your chance to start recouping.

[Schrodinger]

Run very fast away

[Anna Naum]

......GOT A BIT BURN'T DID WE BALANCE??? (oh no, not $4-$5?!!)........nows your chance to start recouping.

I appreciate your concern for Balance, albeit he/she appears very capable of looking after things, but really there is no need to YELL as my mother would say!

[Balance]

......GOT A BIT BURN'T DID WE BALANCE??? (oh no, not $4-$5?!!)........nows your chance to start recouping.

Relax, GR8DAY.

I have sat in on presentations by WDT as far back as 2002 and did not find the company's 'profit just round the bend' as credible or believable.

So sad to disappoint you but have never thought about putting a single cent into WDT.

I lost a few $$$ on Provenco though, ouch!

[Flugenbear]

Regardless of what has happened or been said in the past, the numbers tell the tale.
WDT is turning things around there is no doubt about that. Whether this can continue to meaningful profitability remains to be seen.
If one believes the management it can happen...and there are enough new faces there that I believe they have taken a new direction....hearing how things were 10 years or even 2 years ago is getting a bit tiresome. Would be more interested to hear comments on the last years performance....thanks Anna for yours.
For what it's worth, I think they'll make it.
In fact, just about feeling brave enough now to buy some WDT.

[percy]

Actually I started the new thread because I was sick of reading all the rubbish about this company from people and wanted to point out that the price and volumes were both up, nothing more. Also I note that the rights issue was oversubscribed by 130 odd %.

Might be time for another new thread? The above was posted 19-12-2005.

[Flugenbear]

Only time will tell.
For me the positive thing has been the management change and with that the results to back up considerable improvement in the last year.
I'm glad Balance you at least see them wandering in the wilderness which is better than being dead I guess!

[Anna Naum]

While I understand the need to know of the past and to have consideration for it....the last 18 months really has been about change at WDT. As Flugenbear mentions it is yet to result on a meaningful profit number but the new CEO, Greg Allen is yet to not deliver on what he has stated he will do....he missed GP % by a couple of months....I can forgive him that.

He now says 25% GP in 2014, ICS begins its rollout and he will break even in 2014. Interesting times if he can continue to deliver and his CV suggests that is what he does.

[brucey09]

While I understand the need to know of the past and to have consideration for it....the last 18 months really has been about change at WDT. As Flugenbear mentions it is yet to result on a meaningful profit number but the new CEO, Greg Allen is yet to not deliver on what he has stated he will do....he missed GP % by a couple of months....I can forgive him that.

He now says 25% GP in 2014, ICS begins its rollout and he will break even in 2014. Interesting times if he can continue to deliver and his CV suggests that is what he does.

Snr Green was the start but not as good to control - new managers will do good.

[GR8DAY]

.....GROSS MARGINS HAVE BEEN IMPROVING NOW FOR 3YRS RUNNING. 2011, UP 5%. 2012 UP 14%. Q1 2013 UP 16.8%. OVERALL REVENUE GROWTH FOR 2012 UP 2%. OPERATING COSTS DOWN FROM 16.3M TO 11.7M. EBITA 2012 LOSS REDUCED FROM 12.0M TO 4.1M........ie NET LOSS REDUCED BY A WHOPPING $8.1M

IT'S NOT JUST ABOUT TALK ANYMORE..........IT'S RIGHT THERE IN THE SUPPORTING NUMBERS........DISREGARD THEM AT YOUR PERIL ALL YOU NON-BELIEVERS.!!!

[J R Ewing]

.....GROSS MARGINS HAVE BEEN IMPROVING NOW FOR 3YRS RUNNING. 2011, UP 5%. 2012 UP 14%. Q1 2013 UP 16.8%. OVERALL REVENUE GROWTH FOR 2012 UP 2%. OPERATING COSTS DOWN FROM 16.3M TO 11.7M. EBITA 2012 LOSS REDUCED FROM 12.0M TO 4.1M........ie NET LOSS REDUCED BY A WHOPPING $8.1M

IT'S NOT JUST ABOUT TALK ANYMORE..........IT'S RIGHT THERE IN THE SUPPORTING NUMBERS........DISREGARD THEM AT YOUR PERIL ALL YOU NON-BELIEVERS.!!!

So this is a company that after a decade in business could get to the point (next year) where they are breaking even and will be able to pay wages and directors fees out of revenue rather than having to keep coming back to the shareholders to put more money in? That's fantastic! Where can I sign up? As a director I mean. Any non-listed business like this would have gone to the wall years ago.

[GR8DAY]

So this is a company that after a decade in business could get to the point (next year) where they are breaking even and will be able to pay wages and directors fees out of revenue rather than having to keep coming back to the shareholders to put more money in? That's fantastic! Where can I sign up? As a director I mean. Any non-listed business like this would have gone to the wall years ago.


.......IM PICKING YOR'E A "NON-BELIEVER" JR??? (LOL).........hey bro' every company has it's day. All Im saying (suggesting) is.....keep a good eye on this one. Im happy to buy in at the current SP and sit back and watch what happens. GP target for 2013 is set at 18-20%, so a good start already to the year (16.8%) AND loss reduced to A TARGET under $3m. Could well be the turnaround story over the next couple of years.

[J R Ewing]

.......IM PICKING YOR'E A "NON-BELIEVER" JR??? (LOL).........hey bro' every company has it's day. All Im saying (suggesting) is.....keep a good eye on this one. Im happy to buy in at the current SP and sit back and watch what happens. GP target for 2013 is set at 18-20%, so a good start already to the year (16.8%) AND loss reduced to A TARGET under $3m. Could well be the turnaround story over the next couple of years.

I am a non-believer and haven't put any money in this myself. It seems somewhat strange that a company can continue in business for so long racking up losses, with no real growth. Maybe the new CEO can turn it around and make a commercial return. But the length of time before making the first profits would not have been sustainable without the access to new capital over the years. Shareholders put their money in, then either get diluted into insignificance or keep having to pump in more cash to keep WDT afloat. I doubt that such a model could work in a non-listed company, where there would be the necessity to deliver profits within a reasonable time or the company would fold.

[GR8DAY]

i am a non-believer and haven't put any money in this myself. It seems somewhat strange that a company can continue in business for so long racking up losses, with no real growth. Maybe the new ceo can turn it around and make a commercial return. But the length of time before making the first profits would not have been sustainable without the access to new capital over the years. Shareholders put their money in, then either get diluted into insignificance or keep having to pump in more cash to keep wdt afloat. I doubt that such a model could work in a non-listed company, where there would be the necessity to deliver profits within a reasonable time or the company would fold.


totally agree.

[h2so4]

I am a non-believer and haven't put any money in this myself. It seems somewhat strange that a company can continue in business for so long racking up losses, with no real growth. Maybe the new CEO can turn it around and make a commercial return. But the length of time before making the first profits would not have been sustainable without the access to new capital over the years. Shareholders put their money in, then either get diluted into insignificance or keep having to pump in more cash to keep WDT afloat. I doubt that such a model could work in a non-listed company, where there would be the necessity to deliver profits within a reasonable time or the company would fold.

Its all part of The Greatest Magic Show On Earth. What you didn't see their hand go into your pocket???????????

[GR8DAY]

RECENT MEDIA RELEASE WDT

FURTHER BOARD CHANGES TO CREATE THE "NEW WELLINGTON".....( as it's referred to now)





27 May 2013
Media Release
For Immediate Release
Wellington appoints new Director
Wellington Drive Technologies Ltd (WDT) is pleased to announce the appointment of Dr
Lisbeth Jacobs as a non-executive director of WDT with effect from 27 May 2013.
Dr Jacobs, a native of Belgium, holds a PhD in Materials Engineering from the University of
Auckland and a Master of Science in Materials Engineering from Katholieke Universiteit
Leuven, Belgium, where she also completeda post graduate degree in Business Studies.
Dr Jacobs has completed the Executive General Management programme atCEDEP-
INSEAD, France and is currentlyDirector International at The Icehouse, following a 13 year
career with Belgian corporate Bekaert, a world market and technology leader in steel wire
transformation and coatings. She is also a member of the Auckland Uniservices Physical
Sciences Investment Committee.
Wellington Chairman Tony Nowell said he was delighted to have attracted someone ofthe
calibre of Dr Jacobs to join the WDT board, as part of the previously announced board
refreshment process.
“Dr Jacobs has strong research and development credentials and excellent corporate
experience in markets and technologies not dissimilar to those of Wellington Drive.
“She bringsvaluable experience ofChinaoperations,of project managing global strategy and
business development, and of global selection and recruitment. We have no doubt that Dr
Jacobs will add considerably to our governance of strategy, innovation and in-market
execution.”
Dr Jacobs is considered by the board to be an independent director for the purposes of Listing
Rule 3.3.2
Tony Nowell
Chairman
Mobile: +6421488-895
E-mail:Tony.Nowell@wdtl.com

[janner]

Why do you share holders not ask for ... Share consolidation.. i.e. 1 for 1000.. ??..

Do not know how many shares have been issued..

I am sure that this would be a wake up call for the largest holders..

[Anna Naum]

Currently about 120m shares on issue.

[Felonius]

Hello Janner.

Why would we wish to give the largest shareholders a wake-up call ?
Obviously they are not as smart as you who is not among "the large shareholders".

I admire their tenacity for sticking with the company through thick & thin (mostly thin), which is so often necessary when investing in start-up companies.

May they be well rewarded for their support.

[janner]

Hello Janner.

Why would we wish to give the largest shareholders a wake-up call ?
Obviously they are not as smart as you who is not among "the large shareholders".

I admire their tenacity for sticking with the company through thick & thin (mostly thin), which is so often necessary when investing in start-up companies.

May they be well rewarded for their support.

Over 30 years and still be a " Start up Company ".. ???..

[janner]

Or is it closer to 40 years ???..

Think that they will be celebrating their centennial before any one celebrates a DIVIDEND..

Could be proven wrong.. but what a waste of time and investment so far ..

[Balance]

A lot of jargons - 'execution engine', 'right to grow', accelerated growth etc

Sounds to me like they are looking for more capital soon?


https://www.nzx.com/files/attachments/180514.pdf

"Over the past eighteen months Wellington has focused on improving its ‘execution-engine’ so that growth of
the business would deliver the right financial performance for stakeholders. As stated previously, Wellington
chose not to just ‘win volume to build scale’ until its ‘execution engine’ was working. This is called ‘earning
the right to grow’. Wellington’s operating and financial performance continues to improve and the Board and Management are confident that all the appropriate actions are underway to improve the execution engine
and deliver on financial promises. As result of this growing confidence, the focus is shifting to the actions and investments that will be necessary to return Wellington to a path of accelerated growth. Wellington remains on track for a positive EBITDA result in 2014."

[winner69]

WDT were cash flow positive H1

Maybe the execution engine is starting to fire up

This Ann will please those who love the stok ....msybec20 cents soon

[winner69]

Can't argue with the bottom line balance sheet. They are definitely starting to claw it all back now.

Anyone know how much debt they have?

No debt moosie .....like DIL cash in the bank ....good eh

[winner69]

I see Accumulated Losses rolled over the 100million mark

Some effort eh ....shareholders have done a great job over the years putting that much in for zilch

[GR8DAY]

.....NO QUESTION THINGS ARE FINALLY FALLING INTO PLACE FOR WDT.........and not before friggn' time.....talk about a long haul and huge test of patience. I am happy to accumulate more at these low levels........you say 20c soon WINNER..........back to SIX DOLLARS AND 20c might be closer to the mark, ,,,,,,be great to get SOME of our money back!!

[GR8DAY]

lol, I will quote you at $6.20 GR8DAY. How many Mothers/V's/Red Bulls/Lines of cocaine have you had today? Looks like only a few, not everything is quite in caps lock :p..........

HA LOL MOOSIE!.......HAD NONE OF THE ABOVE (unfortunately)........but it may be all the cement dust Ive been breathing today!!..........hey mate you may laugh at $6.20 but these shares were once changing hands at something around that figure........Im picking they'll be back there by Xmas (just not sure what year sorry). All joking aside Im picking WDT as the turnaround stock of the year.....all signs pointing up and backed by directors promises now.....yep it's all in writing AND i know where they live!!

[GR8DAY]

.......WOW SOMEONE SHOWING MORE CONFIDENCE THAN EVEN MYSELF.......500,000 PLACED BY A BROKER IN ONE HIT........NOW WHATS THAT GUNNA BE WORTH AT $6.20??? (someones in for a nice Xmas pressy)

[Flugenbear]

Take off might be hoping for too much snapiti....but I'll stand by my last post #618.
And yes, I did buy some...
:t_up:

[Balance]

Take off might be hoping for too much snapiti....but I'll stand by my last post #618.
And yes, I did buy some...
:t_up:

https://www.nzx.com/companies/WDT/announcements/241197now

Placement of shares at a premium - now that is a huge change to the usual highly discounted share placement and issue - that has got my notice.

[winner69]

Must have started a rush to find out ..... Nzx broken again

We've been notified about this issue and we'll take a look at it shortly.
You can try doing what you were doing again, but we probably need to fix something.

[baller18]

What the heck? These shares use to trade at $15??? what the heck happend to them? worse than billabong...

[percy]

No nothing has happened to them.
They have been expecting to be profitable in the next 6 months to a year, for approx. 20 or 30 years now.

[baller18]

No nothing has happened to them.
They have been expecting to be profitable in the next 6 months to a year, for approx. 20 or 30 years now.
And people were paying up $15 dollars a share for them 10 years ago?
Speculative stocks...
Dangerous...

[percy]

No the highest price they ever got to was about 60 cents [adjusted approx. $15].They just kept having cash issues,so the number of shares just kept increasing while the value [?] of the company stayed much the same.
Just thinking they must have set a world record for the number of cash issues an unprofitable company has had.
.

[GR8DAY]

.......yet some more impressive news today.....directors doing as they promised....momentum now gathering.......this is just getting better and better, miss out at your peril......turnaround story for the next couple of years, so plenty of time to buy in at these low prices. Shud break thru 20c soon.......25c by years end??

[baller18]

No the highest price they ever got to was about 60 cents [adjusted approx. $15].They just kept having cash issues,so the number of shares just kept increasing while the value [?] of the company stayed much the same.
Just thinking they must have set a world record for the number of cash issues an unprofitable company has had.
.

Highest was 60 cents?
Was on yahoo finance, and back in 2001 - 2006 they were trading between $7 - $15??

[percy]

.......yet some more impressive news today.....directors doing as they promised....momentum now gathering.......this is just getting better and better, miss out at your peril......turnaround story for the next couple of years, so plenty of time to buy in at these low prices. Shud break thru 20c soon.......25c by years end??

If there had been a sharetrader site in 1989 I would most probably have posted the same post as you. !!!
.

[percy]

Highest was 60 cents?
Was on yahoo finance, and back in 2001 - 2006 they were trading between $7 - $15??

No the charts have been adjusted.You just alter the scale.

[baller18]

No the charts have been adjusted.You just alter the scale.
Ahhhh i see.

Thanks again heaps percy!!!

[Anna Naum]

Yet again Greg Allen (CEO) delivers on what he said he would do. Having been CEO for the last 18 months this guy really is the real deal (IMO). He has gone a long way to turning WDT into a real company with costs under control, margins up from (-ve) to circa 20% and Greg still states he can get 25% in 2014 and EBITDA +ve as well. So still plenty of work to do but he is proving that he delivers on what he says he will do.

[percy]

Fantastic news.
I may have sold out 20 years too early !!

[Balance]

Fantastic news.
I may have sold out 20 years too early !!

Yiu are too much, Percy :D :D :D

[Anna Naum]

Fantastic news.
I may have sold out 20 years too early !!
[ or maybe it was 23 years too early]

I doubt it BUT I would suggest that like many companies, a new CEO and a change of direction will lead WDT to a much better future than it was looking like 2 years ago. Sure go back 5, 10, 20 years and it was a dog but now??? I would suggest its time for a new theme song.

[percy]

I doubt it BUT I would suggest that like many companies, a new CEO and a change of direction will lead WDT to a much better future than it was looking like 2 years ago. Sure go back 5, 10, 20 years and it was a dog but now??? I would suggest its time for a new theme song.

Anna Naum.
I hope you are right.
I am holding myself at the ready.!
Theme song /top selling record in 1990 was "Unchained Melody" by The Righteous Brothers.

[percy]

Actually I started the new thread because I was sick of reading all the rubbish about this company from people and wanted to point out that the price and volumes were both up, nothing more. Also I note that the rights issue was oversubscribed by 130 odd %.

Posted 19-12-2005.
Maybe time to consider another new thread.!!

[janner]

Posted 19-12-2005.
Maybe time to consider another new thread.!!

A new thread ??.. Most share holders over the years have been left " Thread Bare "..

[Anna Naum]

A new thread ??.. Most share holders over the years have been left " Thread Bare "..

Yes it would seem I was a long time before the right time......but a new CEO and delivery of promises goes a long way towards regaining my trust and belief.

[janner]

Yes it would seem I was a long time before the right time......but a new CEO and delivery of promises goes a long way towards regaining my trust and belief.

The world has a greater need of people like yourself Anna.. Than cynics like me..

Will wait until a definite up trend is confirmed ..

[Balance]

Yes it would seem I was a long time before the right time......but a new CEO and delivery of promises goes a long way towards regaining my trust and belief.

Time to take off the Ross Green garlic repellant.

[janner]

Time to take off the Ross Green garlic repellant.

Is that a statement or question Balance ??

[percy]

Looking at a chart and the 50 day and 200 day moving averages and the MACD ,WDT could be showing buy signals.
Number of shares on issue has increased to just over 126mil shares and at 18.7cents the market cap is now approx. $23.56 mil.
Turnover [from the half year report] is expected to be approx. $30mil to $34mil with gross margin of between 18% to 20%.
So still a very small company, with modest turnover spread over a lot of countries.
The financial returns are still negative, with a projected loss of under $3mil this year and POSSIBLE positive EBITDA in 2014.

[Balance]

Is that a statement or question Balance ??

Must be totally frank and state I find Ross Green a total turn off as far as investing in WDT is concerned.

I sat in on a presentation by him over 10 years ago and he half convinced me until he held up his hands and asked for more capital - as profitability was just around the corner! SP then would have been the equivalent of over $15.00! He was a master at raising funds to keep the company going. The fund managers fell for the 'profitability' is around the corner talk.

So I never take much heed of when the fund managers hand over more money to him and WDT.

BUT -----

East West Manufacturing handing over new capital and forming a strategic alliance - I take note!

Could be real turning point.

[Anna Naum]

****************************

To me, announcement of East West Manufacturing as a Strategic Partner is however an important development.

Here we have an established industry player forming a partnership with WDT and putting money in. Presumably East West has done comprehensive real in depth due diligence (with real expertise) before doing the deal. I pay no heed to fund managers like Hunter Hall or SuperLife putting money into WDT - they are fund managers and playing the odds with other people's money.

So, time to dip the toe in?[/QUOTE]

Balance, the fact that Greg Allen has managed to get margins from -ve to circa 20% and an international investor is worth a few points.
While the RG years are a disappointment I still feel Greg is 'the real deal' and now has this company facing in the right direction.

[Flugenbear]

Commercial Refrigeration revenue for Q3 was $4.7m, $0.9m less than the $5.7m


recorded in Q3 2012 (excluding Ventilation revenues). Q3 is the company’s

seasonally weakest quarter and that seasonality was worse than 2012;


Gross Margin increased to 23%, a further improvement over the 17% in the first half


of 2013 and the 2012 margin of 14%. This result was delivered through higher

margin product mix and further flow-through of existing supplier cost reductions;


Net Profit after Tax (“NPAT”) for the period was a loss of $970,000;



Earnings before Interest, Tax, Depreciation and Amortisation (“EBITDA”) was a loss


for the period was $841,000;


Earnings before Interest and Tax (“EBIT”) for the period was a loss of $969,000;



Progress in the five main priorities for 2013, which have resulted in;


o Announcement of strategic partnership with East West Manufacturing;

o Launch of new FanPack product and a low power EC Motor variant;

o Investing in Asia growth with a new Sales Director based in Shanghai, China.



A little disappointing to see the drop in sales, but more importantly margins continue heading in the right direction which has been more the focus. There's not a lot of point having growth if you aren't making money on what you sell.
On the whole I think WDT continue heading in the right direction and will be one to watch.

[Anna Naum]

So given they have said $30-$33m FY sales that means $8m plus sales at the $30m level for Q4 and they confirmed margins in Q4 of approx 23-25% means near to an actual b/e result for Q4, a good place to be going into 2014.

Snapiti if you have time, what were you expecting given they have said all year a loss of less than $3m for 2013, 18-20% margins and sales of $30-$33m all of which were confirmed today.

[Anna Naum]

Thanks Snapiti, I see a company that is delivering on what it has said it will do, after yes many many years of not. New CEO continues to deliver to plan and my look at EastWest suggests to me they are the sort of partner WDT has been looking for all along.

When new CEO's deliver I like to stay around, lots of examples of this strategy being a winning one.

[Flugenbear]

I agree Anna.
I think WDT can almost be split into two eras....pre and post Greg Allen....
In the relatively short time he has been there the Company has gone from losing 12mil a year down to 3.
It's one thing to have a good product as WDT does, it's another to bring it profitably to the market.
There's still a way to go, but as far as I am concerned things have never looked so good for WDT.
Now they look forward to growth, no doubt we might see another capital raising, but I think the Company will be in a position to achieve this without too much pain.
2014 is going to be interesting.

Snapiti you are right, it might look to be snails pace right now, but that's not to mean it won't fly one day soon....already up 50% from a few months ago.....

[whatsup]

WDT on the move , its been years since there has been a slightly positive feel about this share.

[GR8DAY]

WDT on the move , its been years since there has been a slightly positive feel about this share.


.........wont be long now b4 the SP has doubled (in the last 3-6mnths). This rise is well founded in my opinion as directors promises slowly come to fruition.........but still a lot of work to do AND a lot of SP ground to make up and recover to $3sh!! (just say it quickly fellow long-termers). Finally our patience is being rewarded (by way of SP gains)......but we're really just at the cusp of a full recovery.........ALWAYS the best time to invest. STEADY IS BEST!

[Scottman]

A friend of mine has had shares in this company for the last couple of years and I haven't been too keen to go near it given the history. But just reading a bit more this week I'm going to keep a closer eye on it. I like Greg Allen's work history and what he has done so far in turning the company in a more positive direction. For me I like to invest in top people who manage these organizations.

[kiwi_on_OE]

Shares up 25% since the update, and have doubled in the last 2 and a bit months. That's PEB/XRO performance! ;-)

[craic]

There's one born every day - must have been a heap born that day.

[Flugenbear]

lots and lots of buyers, few sellers, big break through 12 month trend line, could be some life in this dog but IMHO it will do a BLT run up to 29-30 cps and fall back to low 20's cps

Yes pretty much agree...
Until the next announcement...positive up she goes, negative she'll stall or fall...
Just achieving what the have said will be positive.....so far under Greg they have done all of that....

[GR8DAY]

....starting to gain a bit of traction now, but a hell of a long way to go. Im in for the long haul on this on this one as I do believe they are on the right track and lets face it, the industry/arena they operate in (ENERGY SAVINGS FOR BUSINESS) is up there towards, if not, THE No.1 global business driver........attracting MASSIVE focus throughout every level of industry. They are in the right place at the right time.........and have been for a longtime.....without profiting from it, BUT..... I think things will turn VERY POSITIVE for WDT in the near future esp. as they now finally have the right man at the helm.

[brucey09]

Snr. Gr8day
Since Snr. Green go . Si?

[GR8DAY]

Snr. Gr8day
Since Snr. Green go . Si?

Si Si! (hows the weather in Mehico Brucey?? ........hot, hot ....like you need more refrigeration HOT)??

[Scottman]

Did some reading up on Greg Allen. I think they have the right man there indeed. It's going to be interesting watching them progress from now on. Disc. Holding as of today.

[brucey09]

Si Si! (hows the weather in Mehico Brucey?? ........hot, hot ....like you need more refrigeration HOT)??
Snr.
Small piece hotter than Auckland NZ but now winter much windier. Summer much hot.

[Balance]

As light follows day, dark follows night, WDT will be taking the sp action to undertake another rights issue.

Watch for it.

[Anna Naum]

Balance you are not living up to your name. The only issue might be if East/West convert the options they have at 20c. Otherwise for once I suggest you might be wrong.

[GR8DAY]

......yes on that note I think we must have a very happy partner on board now (EAST WEST).....their recent investment has doubled in value, got to be pleased with that.

Anna do you know/remember how many options they have and what is the agreed conversion rate? This will no doubt happen now, giving the company yet another solid injection of capital to continue with the push forward. All looking good.

[Anna Naum]

......yes on that note I think we must have a very happy partner on board now (EAST WEST).....their recent investment has doubled in value, got to be pleased with that.

Anna do you know/remember how many options they have and what is the agreed conversion rate? This will no doubt happen now, giving the company yet another solid injection of capital to continue with the push forward. All looking good.

5.3 million warrants to acquire additional new Wellington shares at 20 cents per share within the next two years

[Balance]

Balance you are not living up to your name. The only issue might be if East/West convert the options they have at 20c. Otherwise for once I suggest you might be wrong.

Option at East West call.

Let's see, shall we?

[Anna Naum]

Option at East West call.

Let's see, shall we?

Lets.....its OK Balance, you have been right for most of the last 10 years.

[Balance]

Lets.....its OK Balance, you have been right for most of the last 10 years.

BTW - I do like the way WDT is trending now, but ever so wary of these buggers and their begging bowl.

[Flugenbear]

I wouldn't be surprised to see another capital raising unless east/west convert their options sometime next year.
The Company has stated they will focus on growth soon....that will cost something.
I am not at all concerned if they raise money for this.
I will be concerned if they can't maintain reasonable margins...

[Anna Naum]

I wouldn't be surprised to see another capital raising unless east/west convert their options sometime next year.
The Company has stated they will focus on growth soon....that will cost something.
I am not at all concerned if they raise money for this.
I will be concerned if they can't maintain reasonable margins...

Greg presented to a bunch of broker's the other day (my man was there). Greg told them that the trend in margin continues to be a positive one and the East/West deal will deliver additional margin to WDT.

As I see it the first year for Greg was about right sizing WDT (he made 70+ people redundant), year two was about getting the operations/margins working (when he started margins were 2%, now well over 20%) and next year is about increased profitable sales. I agree that year three sales growth (at good margin) is the turnaround story coming home but with Greg having delivered on nearly everything to date I believe (and are invested for) a continuation of him delivering on what he says he will do.

[Balance]

Sp action says to me a capital raising is on the way.

[Anna Naum]

My view of SP is that you are seeing the natural selling of a stock after it has risen. The company just released Q3 result which shows margins continuing to improve. Lets see how your call goes in the next month Balance, my money says there will be no CR, will be interesting to see who is right.

[Flugenbear]

Sp action says to me a capital raising is on the way.

It's not going to happen....yet...IMO
Unless east/west have said they will not take up their options or Greg has some serious expansion planned...
I would imagine he is happy to play this reasonably conservatively at this stage given the history.
But hey, what the hell do I know...anything is possible

[Balance]

My view of SP is that you are seeing the natural selling of a stock after it has risen. The company just released Q3 result which shows margins continuing to improve. Lets see how your call goes in the next month Balance, my money says there will be no CR, will be interesting to see who is right.

Ross may be gone but the old guard remains - look into the history of this company carefully.

[Scottman]

Yes the old guard is still there & that bothers me as well. Does Greg Allen have complete control ?

[Scottman]

Sellers holding out at 26c today. Not many. Don't blame them either.

[Scottman]

Back to 28 cents I see. This baby is going to come alive one day.

[Scottman]

Oh just noticed it was only 1000 shares. Pretty small.

[GR8DAY]

.....Im expecting some real good news on this one come next report. Will remain on my pick list for the 2014m comp........put on about 50/60% so far this year I think but still a long way to go.IMHO.

[GR8DAY]

.......sorry just checked, put on over 100% over the last 12mnths. I'll be very surprised (and disappointed) if next year doesnt show the same gains........providing the directors continue doing as they PROMISED!!! (so far so good directors)

[Scottman]

Yes I agree. Watched their AGM video. Not many present which is understandable. Have done much reading on the new WDT and am impressed with the direction they are now taking. Simply can't understand why Ross Green was left to ran the company so long with losses continuing to mount. This has been a very unloved company. Disc. Holding.

[GR8DAY]

......Im feeling pretty confident (hopeful?) that this could all fall into place and be a nice steady earner for new shareholders at the current pricing.........they've got a lot of ground to make up before they make some long suffering shareholders happy, but Im thinking they are now on track to perform as the "DIRECTORS PROMISED" (turn the volume up here)!! How could they get it wrong anyway .....after all they operate in the No.1 21st century industry................. "ENERGY SAVINGS" (improve the bottom line/save the planet)

[Scottman]

Got this on your watchlist still Moosie ?

[Bobcat.]

Oh just noticed it was only 1000 shares. Pretty small.

I would call it manipulation - it's happened before with this stock (and a few others). Notice sellers now coming in at 27c.

[Scottman]

Yes I see that. They are nearing the end of their turnaround phase with substantial increase in margin gained and positive EBITDA next year. Then the growth phase will start. Good times and not before too long.

[Scottman]

As for the 'old guard' that is being dealt to with changes in the pipeline or with some execution of change already in progress. i.e Dr Lisbeth Jacobs. Dr Rick Boven retiring.

https://nzx.com/companies/WDT/announcements/236691

[Scottman]

WDT starting to gather a bit of pace, albeit slow but surely. 26/ 27 this week. More buyers lining up. Very few sellers. Looks like this will be the year they break even.

[GR8DAY]

.....anyone know when the next lot of (hopefully) positive news will be released? Havnt heard much for a while so SP is drifting a bit (nothing to worry about).......always the best time to be doing some further topping-up?

[bucko]

https://www.nzx.com/files/attachments/188444.pdf

[Bobcat.]

Are these shysters never going to make a profit?!

I sold out after last year's spike...and have better things to do with my money than invest again in their endless promises.

BC

[bucko]

Are these shysters never going to make a profit?!

I sold out after last year's spike...and have better things to do with my money than invest again in their endless promises.

BC


seems like every business i've looked at in the last 2 years :t_down:

[winner69]

GR8DAY will not be pleased. Have a red bull handy to keep him pacified...

Bit it is growing Moosie

Thought it was good to sacrifice the short term profits to keep growth momentum going

[percy]

I just love it.!!!!
"2nd year of turnaround plan."
"we start the first year of our new three year growth plan."
Sorry, but no mention of a profit plan.!!!

[Scottman]

When Greg Allen was appointed as new president for Ascalade Communications in 2007 they said "We are pleased to welcome Greg to our team," said Dr. Ho. "With a strong background in large-scale manufacturing and operations, leadership in developing relationships with multinational OEM's and an impressive track record of delivering significant growth and profitability we are confident he will be instrumental in taking Ascalade to the next level."

Let the man do his job.

[J R Ewing]

So they thought it was good to sacrifice the short term profits to keep growth momentum going. I say that is very bad thinking. A break even year would be a huge milestone for WDT and something shareholders would greatly appreciate IMO. The last thing needed is a bigger loss making company!

[percy]

When Greg Allen was appointed as new president for Ascalade Communications in 2007 they said "We are pleased to welcome Greg to our team," said Dr. Ho. "With a strong background in large-scale manufacturing and operations, leadership in developing relationships with multinational OEM's and an impressive track record of delivering significant growth and profitability we are confident he will be instrumental in taking Ascalade to the next level."

Let the man do his job.

"When a management with a reputation for brilliance tackles a business with a reputation for bad economics,it is the reputation of the business that remains intact."
Warren Buffett.

[winner69]

I know nothing of this guy Allen but LinkedIn says he gets around

Ascalade Communications Inc - the chart looks like a WDT one

[Lizard]

I just love it.!!!!
"2nd year of turnaround plan."
"we start the first year of our new three year growth plan."
Sorry, but no mention of a profit plan.!!!

Yep. Seems their version of "turnaround" is more like going around in circles.
I don't hold any more (lost enough on them!), but hoped they were on the right track with swapping revenue growth for profitability. However, having shrunk revenues significantly, it seems they have simply proved how difficult this is with their product and now want to go back to swapping profitability for growth. Made even harder with high NZD.

Trouble is, when the cash runs out again (which now looks likely in 2014), will there be enough new investors to tap for funds? After all, it takes a lot more dilution for them to raise a few $m these days than it did in the old over-hyped/over-priced days.

[brucey09]

Snrs.
You see our tax for losing . more loss. forward to profit? Amigos I am asking . Good?

[winner69]

Snrs.
You see our tax for losing . more loss. forward to profit? Amigos I am asking . Good?

Ebitda guidance for 2014 is for loss less than $2.0m.....pretty good progress from a $2.9m ebitda loss this year

[Hawkeye]

http://www.nbr.co.nz/article/wellington-drive-narrows-annual-loss-tagged-auditor-bd-152648

[brucey09]

Ebitda guidance for 2014 is for loss less than $2.0m.....pretty good progress from a $2.9m ebitda loss this year
Snr Winner.
Every years guidance. Always profit next time, next time . when?

[winner69]

Snr Winner.
Every years guidance. Always profit next time, next time . when?

so this years guidance really bad then .... not even mentioning profit

[brucey09]

so this years guidance really bad then .... not even mentioning profit

Snr. Winner69
Si, si. In Mexico not profit no good.

[Balance]

so this years guidance really bad then .... not even mentioning profit

East West may pay 1c per share and put this dog out of its listed misery.

[simla]

Sorry to be a party pooper, but I like these guys! True, I don't own any shares, but that's more because this isn't my sort of investment.

As I read it, they spent years hoping to gain a premium for their product on which to build a profit. But the market didn't seem to be buying it much, probably much as people still don't own solar cells even though they appear to be cost effective now (and no, I don't either.) People just take ages to change,

But the current management plan seems to be about also competing on price and marketing - that is, accepting that this is a tough market to play in and just doing what it takes to play there.

I don't know if these guys are going to hit pay dirt. But they sure deserve admiration from where I'm sitting for an intelligent plan being rigorously pursued. The place really has gained some fire in it's belly lately and I respect that. I wish them luck.

[percy]

I note in the chairman's address to shareholders "we are well positioned to become a profitable company." I seem to remember the same words were said by the then chairman 20 years ago!!

Posted 18/06/2010.

[percy]

Yes Percy, and Liz. I know there is a whole lot of deja vue going on. I've followed this company since 1999, sometimes as a shareholder, but more often lately, just as a bystander. But, I have decided to give them another shot. Perhaps I am just a beggar for punishment. We will see how it all pans out this time around. I have 50000 shares at 13c, so it is not a major at the moment.


I of course wish you and the company well.However after investing in it about 1987 or 1990 [sorry I can't remember] and expecting profits every year to be "just around the corner" I feel I am entitled to critical of this company.
After two or three years of increasing earnings I would look at them again.[Then again I may not!!! lol]

[Balance]

As my professor used to say, don't be like a moth to fire.

Look at a moth which has a morbid fascination with the naked flame - it flies at it time and again until all of its wings are burnt off.

Then, it drops to the ground writhing in pain and dies a slow death.

That's WDT for those who WANT to believe, against all the infor.

[percy]

Percy. 1987? That is a bit of a stretch, to say the least. Wasn't it called Cadac back in those days? That's like comparing Hellabys with Renouf, except that HBY has been turned around, while at WDT it is a work in progress.

No I think Cadac came later.!!
Was out of one company,then Aorangi Holdings,before becoming Cadac !!!! Or was is Cadac then Aorangi!!!?????
Funny enough I nearly brought a heap of Renouf for about half a cent when they were in receivership,!!
The trick was if the company kept the share register open, there was a good chance of it being revived.
But there was no market,so you had trouble finding a seller.I was very poor at the time.Think I could have afforded about 100,000 to500,000 at half a cent but he broker who had then needed me to take 2million.!!!
Did fabulously well buying Smiths City shares when they were in receivership.

[craic]

Anybody remember Australasian Breeding Stables? they eventually morphed into Strathmore. When Strathmore, through mismanagement, came up against a brick wall they gave away one of their subsidiaries, Wellington Drive Technologies, to their shareholders of which I was one. I would love someone to put a date on that event - I've been retired just on 12 years and I'm sure it was before that. I hung in for a while, listening to the promises coming in faster than the price went down, then dumped. It amazes me that their is still a faithful out there waiting for the second coming.

[Balance]

Anybody remember Australasian Breeding Stables? they eventually morphed into Strathmore. When Strathmore, through mismanagement, came up against a brick wall they gave away one of their subsidiaries, Wellington Drive Technologies, to their shareholders of which I was one. I would love someone to put a date on that event - I've been retired just on 12 years and I'm sure it was before that. I hung in for a while, listening to the promises coming in faster than the price went down, then dumped. It amazes me that their is still a faithful out there waiting for the second coming.

I sat in on a presentation by Ross Green back in early 2001. Remembered his pitch very well as he sounded most convincing - their latest innovation at that time was going to revolutionize the small motor market. Electric toothbrushes and windscreen wipers were two examples used. Shareholders were going to be in for a bonanza.

All sounded good and some of us were ready to buy on market - until he brought out his begging bowl and wanted more capital!

The rest as they say is history.

[whatsup]

Anybody remember Australasian Breeding Stables? they eventually morphed into Strathmore. When Strathmore, through mismanagement, came up against a brick wall they gave away one of their subsidiaries, Wellington Drive Technologies, to their shareholders of which I was one. I would love someone to put a date on that event - I've been retired just on 12 years and I'm sure it was before that. I hung in for a while, listening to the promises coming in faster than the price went down, then dumped. It amazes me that their is still a faithful out there waiting for the second coming.

Craig , From the 2004 investment year book,WDT, was established in 1986 to commercialise various electronic brushless motor design inventions of a N Z er, Peter Clark A major reorganisation was undertaken in 1998 .
A 32% interest in the company owned by listed Strathmore Group was distributed in-specie to Strathmore share holders in 1999 as a part of its own restructuring , after several years on the unofficial market stock market listing of the shares was achieved in Feb 2001 without the need for a public issue.

[silu]

I sat in on a presentation by Ross Green back in early 2001. Remembered his pitch very well as he sounded most convincing - their latest innovation at that time was going to revolutionize the small motor market. Electric toothbrushes and windscreen wipers were two examples used. Shareholders were going to be in for a bonanza.

All sounded good and some of us were ready to buy on market - until he brought out his begging bowl and wanted more capital!

The rest as they say is history.

We probably sat in the same presentation.

discl. was briefly a holder back then

[percy]

Craig , From the 2004 investment year book,WDT, was established in 1986 to commercialise various electronic brushless motor design inventions of a N Z er, Peter Clark A major reorganisation was undertaken in 1998 .
A 32% interest in the company owned by listed Strathmore Group was distributed in-specie to Strathmore share holders in 1999 as a part of its own restructuring , after several years on the unofficial market stock market listing of the shares was achieved in Feb 2001 without the need for a public issue.

I brought my WDT shares through Sharemart.
Does any one remember Enzed Technology and Primacq Holdings ?

[craic]

I seem to remember that when I got mine from Strathmore, the price was around 70cps and there was quite a bit of enthusiasm publicly - I remember solicitors talking to me about them during the boring bits in courtrooms. The motor was being field tested in the States in Trucks? from memory. I waited a while then dropped them because my position with innovative technology was and is that if it doesn't grab the market straight off, the Chinese will "invent" a cheaper version that will. I had the same result with Sealegs. A great idea, but far too expensive to gain the immediate penetration of the market it needed.

[winner69]

I am pleased that the the Board of Wellington Drive Technologies is pleased to ask shareholders for more money

Does it only relate to these MCN things? Meaning most of you guys are screwed again?

Who holds these MCNs besides Superlife

[silu]

More money. Growth strategy. I've heard this more than 10 years ago.

[Lizard]

Oh come on Winner, these MCN's a sure thing with that conversion formula... just made the shares a tad more dangerous given the possible odds on a conversion price spiral...but provided it's the shareholders with the MCN's, the conversion formula should take with one hand and give with the other...:p (Forget that the coupon is same as money on term deposit for 3 years - and perhaps no consequences for non-payment).

[winner69]

Oh come on Winner, these MCN's a sure thing with that conversion formula... just made the shares a tad more dangerous given the possible odds on a conversion price spiral...but provided it's the shareholders with the MCN's, the conversion formula should take with one hand and give with the other...:p (Forget that the coupon is same as money on term deposit for 3 years - and perhaps no consequences for non-payment).

Think I misread the Ann and assumed ther were already some MCN in existence and it was only those holders who were going to get more.

Seems ALL shareholders can buy this term deposit (oops MCN) and hope for th best

Sure fired up the shareprice today

[winner69]

I didn't realise the auditors didn't entirely agree about the interpretation go a going concern

Emphasis of Matter

Without qualifying our opinion, we draw attention to note 2 (a) to the financial statements which describes the basis on which the Directors have adopted the going concern assumption.. Maybe this injection of cash was urgent




The financial statements have been prepared on a going concern basis which is dependent on the ability of the Group to achieve forecasted cash flows, the outcome of which is inherently uncertain, and additional shareholder or alternative funding may be required to enable the Group to continue as a going concern. These conditions indicate the existence of a material uncertainty that may cast significant doubt about the Group’s ability to continue as a going concern.

The financial statements do not include adjustments that would result if the Group was unable to continue as a going concern.

[winner69]

Update on Shareholder Equity position - over the years $114 million of contributed share capital (real dosh punters have pumped in on a regular basis) has been turned into $9 million

And they still want more

[percy]

Update on Shareholder Equity position - over the years $114 million of contributed share capital (real dosh punters have pumped in on a regular basis) has been turned into $9 million

And they still want more

Oh Dear ???
About time they asked Suzanne Paul to become chair;"but wait,we want more!!!!!

[winner69]

Oh Dear ???
About time they asked Suzanne Paul to become chair;"but wait,we want more!!!!!

We shouldn't dwell on the past Percy

They are about to turn what's left into $100 million and get back to square one

[percy]

We shouldn't dwell on the past Percy

They are about to turn what's left into $100 million and get back to square one

Most probably need another $500 mil of capital to achieve the $100 mil target???!!!!

[In4a$]

WDT up 30% today. Yee-haa!!!
Sell, Sell. quick before it dops 50% again !!!

[percy]

Sell, Sell. quick before it dops 50% again !!!

My thoughts too !! lol

[zigzag]

My thoughts too !! lol

More negativity. Some people will always see a dark lining in every silver cloud.

[GR8DAY]

......some positive news just through for WELLINGTON. Anthony Ting (TING INTERNATIONAL), appears to be a highly qualified individual (university of Edinburgh) with a 25yr business history of sales/developmental work specializing in electric motors etc. Exciting development which should propel sales forward esp. into the huge chinese market. Good also to see they are being proactive in cutting costs by relocating head office. Mr Market likes it so far.

[Bobcat.]

In spite of this announcement of a door opening into China, I don't trust this company, and their capital raising will remain an overhang.

Sellers showing their hand in the market outweigh buyers by a substantial margin. Just a pittance of volume above 9c - 82k compared to 85k on sale below 17c. Don't be fooled - now is not the time to buy this dog.

[tsb]

The great WDT convertible preference share offer.
can anyone see any good points of it or is it the same old same old?

[percy]

The great WDT convertible preference share offer.
can anyone see any good points of it or is it the same old same old?

It will be different this time.!!
Yeah right.!!!! lol.

[percy]

We'll see. Give it a few more years, and I'll see you back here. In the meantime please remember-"He who lol last, lol longest"

Have had about 23 years of lol since I sold my WDT and brought EBO.!!!!

[In4a$]

Gosh how many capital raisings have they had, must be trying to set some record for the most by one company.

[Balance]

WDT up 30% today. Yee-haa!!!

And how many % down now?

[Balance]

We'll see. Give it a few more years, and I'll see you back here. In the meantime please remember-"He who lol last, lol longest"

Zigzag - you chose to ignore the postings/warnings of those who have followed this company for years and years (even decades).

They are laughing.

[silu]

I was a shareholder from 2000-2001 and it seems not much has changed. They put the loooooooooooong into long-suffering.

[Balance]

I was a shareholder from 2000-2001 and it seems not much has changed. They put the loooooooooooong into long-suffering.

I sat in on a presentation by Ross Green over a decade ago. If you have not met or listen to him before, you would actually think the company 'is' on the verge of greatness.

Then he brought out the begging bowl and wanted more funds. That's when we all left the room and gave the stock a big red cross.

[silu]

I sat in on a presentation by Ross Green over a decade ago. If you have not met or listen to him before, you would actually think the company 'is' on the verge of greatness.

Then he brought out the begging bowl and wanted more funds. That's when we all left the room and gave the stock a big red cross.

Yes I bought after a Ross Green presentation through JB Were. Those were the days of unlimited potential ;)

[winner69]

HY announcement - The old 5pm on a Friday afternoon and hope nobody notices trick

Into growth phase I hear - all the numbers do seem to be bigger than last year, that's good

[percy]

lol.... into growth phase again ..... another capital raising coming.

No surprises there.
Moving to cheaper premises.
Invercagill here we come?????????????????????? lol.

[winner69]

lol.... into growth phase again ..... another capital raising coming.

Is a 3 year plan I hear

This year is going to see revenues less than last year and losses similar - a good start

[winner69]

Retained losses still creeping up - over $104 million now

That's a lot of money to lose and a lot of shareholder support

[percy]

Invercagill is the southern hemisphere capitol of dairy farming now so that is way too flash.... me thinks Eketahuna or Dannevirke.

Just checked out Property Brokers' Eketahuna listings.
"Get on the Ladder", 42 Newman Road ,Eketahuna is on the market for $90,000.
Looks great value to me.Dannevirke properties looked a bit too pricey,"what a beauty" at $148,000 did not get my juices flowing.!

[J R Ewing]

These guys seem to disprove the theory that it's no use flogging a dead horse :)

[Balance]

These guys seem to disprove the theory that it's no use flogging a dead horse :)

Can you believe that the shares were trading at the equivalent of $10.00 per share back in August 2000?

[winner69]

The old announce the bad news at 5pm Friday afternoon and nobody will notice trick nearly worked. Sneaky eh

I didn't notice until this morning

So - While the current year’s trading performance has been more challenging than expected, the company’s growth recovery plan remains on track.

Lower sales / reduced margins

https://www.nzx.com/files/attachments/205205.pdf

[Okebw]

The old announce the bad news at 5pm Friday afternoon and nobody will notice trick nearly worked. Sneaky eh

I didn't notice until this morning

So - While the current year’s trading performance has been more challenging than expected, the company’s growth recovery plan remains on track.

Lower sales / reduced margins

https://www.nzx.com/files/attachments/205205.pdf

A foreshadowing for next year perhaps winner?

That release is dated 5 December 2015 after all.

Disc: My barge pole is worth more than this waste of time

[Aaron]

Just sold out to recover a small fraction of my initial investment so there is likely to be a big turnaround for this company sometime soon.
Another speculative disaster. It was a good story though and I imagine my investment has helped pay some decent salaries over the years but the ongoing results and losses as well as comments on this thread have convinced me to salvage whatever is left.

[winner69]

A foreshadowing for next year perhaps winner?

That release is dated 5 December 2015 after all.

Disc: My barge pole is worth more than this waste of time

Ha ha ....and for immediate release a well

I just have a morbid fascination with slow moving train wrecks

[BFG]

....starting to gain a bit of traction now, but a hell of a long way to go. Im in for the long haul on this on this one as I do believe they are on the right track and lets face it, the industry/arena they operate in (ENERGY SAVINGS FOR BUSINESS) is up there towards, if not, THE No.1 global business driver........attracting MASSIVE focus throughout every level of industry. They are in the right place at the right time.........and have been for a longtime.....without profiting from it, BUT..... I think things will turn VERY POSITIVE for WDT in the near future esp. as they now finally have the right man at the helm.

About this time last year...

[Flugenbear]

Just sold out to recover a small fraction of my initial investment so there is likely to be a big turnaround for this company sometime soon.
Another speculative disaster. It was a good story though and I imagine my investment has helped pay some decent salaries over the years but the ongoing results and losses as well as comments on this thread have convinced me to salvage whatever is left.

I have been hanging in there but am also losing faith....this Company just doesn't seem to be a money making one....probably no fault of their own I think they have done all possible the last 3 years and here we are still...I might take the same path as you and sign out.

[golden city]

it is a dead cat..long time ago..

[janner]

it is a dead cat..long time ago..


percy an I cut our teeth on this one ..

How many years ago was that Perc ??..

[percy]

percy an I cut our teeth on this one ..

How many years ago was that Perc ??..

Over 25 years ago.
I guess $1,000 invested in WDT then would be worth about $50 today,while $1,000 invested then in EBO would be worth close to $20,000.!!!!

[winner69]

Over 25 years ago.
I guess $1,000 invested in WDT then would be worth about $50 today,while $1,000 invested then in EBO would be worth close to $20,000.!!!!

Maybe only $25 now Percy

I see shareprice is now 6 cents with highest bid of 3.5 cents

[percy]

Maybe only $25 now Percy

I see shareprice is now 6 cents with highest bid of 3.5 cents

Oh dear!!!!
Lesson to be learnt.Check that directors/CEO do what they say they will do.Simple lesson.Huge money lost/saved/made.!!

[J R Ewing]

It's an amazing achievement to run a company for 25 years or so without ever turning a profit. They have managed to defy Darwin at least.