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08-03-2013, 03:55 AM
#791
Originally Posted by J R Ewing
At best, it looks like they are ripping up the floorboards to keep the fire going.
... or ripping up floorboards as raw material for another yet-to-be-purchased sawmill?
Last edited by Vaygor1; 08-03-2013 at 11:11 AM.
Reason: typo
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19-03-2013, 06:53 AM
#792
By my reckoning the IRD 15 days was up yesterday - but no announcement to Market. Perhaps today we hear if they have cobbled another plan.
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25-03-2013, 12:14 AM
#793
Originally Posted by minimoke
By my reckoning the IRD 15 days was up yesterday - but no announcement to Market. Perhaps today we hear if they have cobbled another plan.
...and here we are a whole week later and still nothing. I guess IRD's issue is with AFRL and it would only get up to ALF's level after some time with AFRL not coming to the party. No news in this case is probably good news.
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10-04-2013, 01:59 AM
#794
ALF issued their half year result on 2-April. Up 43% today.
Percentages don't mean a lot when a stock is this low to the ground but it does make a good headline!
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19-05-2013, 03:10 PM
#795
Refer https://www.nzx.com/companies/ALF/announcements/235447
On 23 April, 4 weeks ago, ALF sold their Real Estate business (AFRL) for $472,500 to (bitterly I am sure) pay Watson & Hotchin. This entity had a holding value of $0.00 on ALF's books at the time and was the same entity with the $3.7million taxation statutory demand from the IRD. Refer https://www.nzx.com/companies/ALF/announcements/233395
So ALF with a market cap of currently under $2million (less than $1.5million at the time I recall) managed to eliminate a media-reported and perceived $4.2million debt by selling an asset with a book value of zero.
Doesn't that say something about how conservative ALF has now valued its business? As far as I can tell there is nothing left of ALF now other than their Livestock business which, through the wording ALF uses in their announcements since Hanover, they value VERY much.
Thoughts anyone?
Last edited by Vaygor1; 19-05-2013 at 04:43 PM.
Reason: typo
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27-05-2013, 03:00 PM
#796
Can't bear to look any longer
First the Liquidation Notice for a subsidiary,
Now the Trading Halt.
Best Wishes
Paper Tiger
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27-05-2013, 03:22 PM
#797
You sure make a great fat Lady and you are now centre stage with the lights fully on you
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27-05-2013, 03:24 PM
#798
So OK, I peeked
Originally Posted by Paper Tiger
Trading Halt slapped on by the NZXR. ALF seem to thing you can issue an announcement with Liquidation in the title and just let it run.
Best Wishes
Paper Tiger
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27-05-2013, 04:16 PM
#799
There are at least 3 recent announcements where AFL management express 'surprise' at various actions being taken against them......
they are the only ones surprised I would think......
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28-05-2013, 07:28 AM
#800
Originally Posted by SparkyTheClown
So sad, so sad. Feel very sorry for shareholders...
Why on earth would you. This crowd must be one of the thickest lot of rose tinted spectacle wearers on the planet. Look back on this thread and you'll see the highlighting of a litany of misjudgment which was only surpassed by the company's ability to miscalculate.
And even now they are dense. ALF announced the IRD problem when that debt stood at $3.7m. Then silence, nothing but silence even though the due date arrived and passed without a word. Where were these sad sack shareholders. If they had half a brain they would have been demanding an update. But now they are faced with a $4.2m bill. I guess when you have a company held mainly by ex Hanover "investors" you can't expect too much more.
I'll postulate that there is a Darwinian influence going on here. By keeping their money in ALF they are effectively killing themselves off thus keeping themselves out of the investment market, leaving that market to grow stronger and better. They certainly don't have the ability to cash up and invest in new opportunities.
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