WDT - Wellington Drive Technologies

[Oliver Mander]

Possibly a dumb question - if the record date is June 29th (Monday), then why is WDT trading "ex rights" on Direct Broking at the moment? Any ideas?

[winner69]

Possibly a dumb question - if the record date is June 29th (Monday), then why is WDT trading "ex rights" on Direct Broking at the moment? Any ideas?

Generally things goes ex rights a day or two before Record date

Ie, In this case it gives them time for sales made yesterday to be recorded on share register ....bit hard to do that with today’s sales

T+2 and all that

[Oliver Mander]

Generally things goes ex rights a day or two before Record date

Ie, In this case it gives them time for sales made yesterday to be recorded on share register ....bit hard to do that with today’s sales

T+2 and all that

hmmm...so if I have purchased a parcel today, does that mean that those shares won't be included as part of the allocation calculations on the 29th at 5pm?

[winner69]

hmmm...so if I have purchased a parcel today, does that mean that those shares won't be included as part of the allocation calculations on the 29th at 5pm?

If they are ex-rights you miss out ....T+2 and all that

[Oliver Mander]

If they are ex-rights you miss out ....T+2 and all that

Ah well. I bought yesterday as well, so can't complain...just didn't realise the 'XR' on the quote page! My bad.

[emearg]

[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.

Completely agree. Ross Green unfortunately wasn't the guy to make WDT successful. I thought he was and they would be a success. I learnt an expensive lesson.

Until recently there was no way in hell I would invest more money in WDT. But when last years rights issue came around I reread all the reports from Greg Allens time. I listened to all the online calls and concluded that the promises that had been made had been kept. The goals that had been set had been met. In most cases they had been exceeded and Greg was taking the company away from just making good motors to much much more. And the financials were suggesting the company did have a future.

So last year I took up my rights and even applied for extra. I didn't get most of what I requested because the uptake was far more than what was on offer.

Covid has really screwed things up, but I believe the people in charge are capable of navigating their way through it.

For that reason I will be taking up my rights.

[winner69]

Ah well. I bought yesterday as well, so can't complain...just didn't realise the 'XR' on the quote page! My bad.

When they’re back to 20 cents it’ll make little difference eh

Bit of media coverage needed I reckon

[Oliver Mander]

When they’re back to 20 cents it’ll make little difference eh

Bit of media coverage needed I reckon

Stiull think it's good long-term, but I do worry about their debt level. In a nirvana scenario, their business receovers more quickly than anticipated and they use the rights issue cash to pay down some debt. But appreciate this is all about "getting thru" right now.

[whatsup]

So unkind but from a holder from the 1990's, "one step forward, three steps back " , its no wonder they have approx. $100,000,000 of tax losses !!!

Losses still growing .

[Caesius]

Youch. This has been an expensive lesson for me, and I'm now in the mode of holding on because the paper loss is so big. Live and learn. Looking at the company's history and the chart should have been a warning - even if the fundementals could be explained in a positive light there is still the opportunity cost of having cash tied up in a perpetually unlucky company.

That said, I think that if the company can recover then it could be good buying at 8 cps (or dare I say, lower) but I'm beginning to mentally write this one off. I know, this is where a steady head needs to make a call to sell, but it can be difficult to crystalise losses and I can justify it in my head as replacing the cash I would have spent on TAB.

Spoke to someone who deals with these guys recently, didn't sound dire from them but yes North America is pretty much off the table for now, which is a large part of their sales. Does the volume pushing the price down suggest to anyone bad news that may be yet to be released?

On the slight positive side, the MC of 27 mill is a lot less than another company I won't name whose MC is around 80 mill yet I regard it as a worse performing company.