WDT - Wellington Drive Technologies

[winner69]

New capital at 5 cents pretty cheap ...should ensure they get their $5m

One day Wellington will be a ‘lucky’ company and actually do well.

I reckon my turn of the century Wellington reports would be worth more than 5 cents on trademe ...as a collectors item.

[Leftfield]

You'll be first in line to take up the offer Winner???...... or too busy selling off your old annual reports as collectors items?

[winner69]

You'll be first in line to take up the offer Winner???...... or too busy selling off your old annual reports as collectors items?

Not this time ....resisted buying WDT shares many times over the years

Have a morbid fascination with the company since I spent a few hours being shown their operations many many years ago. Since then I’ve followed their progress (or lack of it) with fervour

Had a few good trades in the 00s ....but jeez they are one unlucky company

Guess what years Annual Report this came from

[Leftfield]

.....
Had a few good trades in the 00s ....but jeez they are one unlucky company
Guess what years Annual Report this came from

Mmmm...fun....love playing guessing games.... maybe well before I even started investing (this time round in 2012)...... how about 2000???

FWIW I put it on my watch list when WDT was 20c back in 2017...... the SP has lost 50% since then!! (Thankfully only on a watch list!)

[winner69]

Mmmm...fun....love playing guessing games.... maybe well before I even started investing (this time round in 2012)...... how about 2000???

FWIW I put it on my watch list when WDT was 20c back in 2017...... the SP has lost 50% since then!! (Thankfully only on a watch list!)

Was wise words in 2003 ....cool eh

[Leftfield]

Was wise words in 2003 ....cool eh

Crikey! Close.... (shame I didn't win the prize).... I wasn't even thinking about investing back in those days.!! ....more scary than cool! Shades of PEB and NTL IMHO..... perpetual cash raises from the suckers.

[winner69]

Crikey! Close.... (shame I didn't win the prize).... I wasn't even thinking about investing back in those days.!! ....more scary than cool! Shades of PEB and NTL IMHO..... perpetual cash raises from the suckers.

....yep all $130m of capital almost all gone

There was some fandangled tech thing in 2003 which was going to be great for them ....and in 2011 some other fandangled thing ....and now being seduced by this fandangled by Internet of Things

[Felonius]

[QUOTE=winner69;824895]....yep all $130m of capital almost all gone

There was some fandangled tech thing in 2003 which was going to be great for them ....and in 2011 some other fandangled thing ....and now being seduced by this fandangled by Internet of Things[/QUOTE

Hi Winner,
This is a very different company from the old one under Ross Green. Ross struggled to grasp the necessity of endeavouring to match the outgoings with income, other than by raising even more money from the long-suffering shareholders.
The current CEO Greg Allen has been in the job for a few years now. He has been very disciplined - every year he sets out a detailed plan for the business which is available for all to read in the company reports, and to his credit the company ticks off those targets. When he took over the company it was on it's knees. Had it not been for Covid-19 WDT would have had a very good year. We increased our investment in the company last year in anticipation of a much improved result - unfortunate timing.
I will be taking up the rights at 5 cents per share.

[Cadalac123]

[QUOTE=Felonius;825015]

....yep all $130m of capital almost all gone

There was some fandangled tech thing in 2003 which was going to be great for them ....and in 2011 some other fandangled thing ....and now being seduced by this fandangled by Internet of Things[/QUOTE

Hi Winner,
This is a very different company from the old one under Ross Green. Ross struggled to grasp the necessity of endeavouring to match the outgoings with income, other than by raising even more money from the long-suffering shareholders.
The current CEO Greg Allen has been in the job for a few years now. He has been very disciplined - every year he sets out a detailed plan for the business which is available for all to read in the company reports, and to his credit the company ticks off those targets. When he took over the company it was on it's knees. Had it not been for Covid-19 WDT would have had a very good year. We increased our investment in the company last year in anticipation of a much improved result - unfortunate timing.
I will be taking up the rights at 5 cents per share.

Although not currently a holder - I agree.
The IoT growth is actually pretty clear in the reports and while I wasn't around for the initial disaster of this company previously I do really think had it not been for COVID WDT was in a good position and poised for somewhat of a stable trajectory. This has unfortunately been delayed.

[bullfrog]

I listened to the AGM, and thought they were putting in a sound plan that gave me a degree of confidence in the company’s future, and thought the management and team were committed and had skin in the game. Been watching from the sidelines for a number of years, and finally decided to dip my toe in this week.