The Investor - Edwafin's Enemies?

Last Friday I requested an update from Edwafin concerning the board meeting that was supposed to be held during early March, and whether they had been in contact with the authorities concerning the return of my investment money.

No response to date.

Yesterday, I did a Google search and found a short article in Fin24 about the law suite by an investor to try and get her money back. It was actually reported with the headline "Edwafin finally underwater?", and with a rumor that Edwafin was applying for sequestration.

On the spur of the moment, I realized that I had been towing a line, that was going nowhere, and that I need to show consolidation with the other investors. I wrote a short comment with a link to this blog.

At the same time I wrote an email to Stapleton, asking him if they had applied for sequestration.
A short while later I received the following response:

No it is not true that we are liquidated at all. The press are making mischief. We have a minor investor comprising less than 0.006 of our debenture book who is upset because we will not pay her out for very good reason and she is bringing an application which our advocate is confident she will not succeed with. End of the matter

I immediately changed the name of the blog to http://edwafinexposition.blogspot.com/ and closed it to visitors (the name change sounds more apt). Note, however, that Stapleton does not say what the good reasons are, and that he is relying on the adbvocate's opinion about the matter. Neither is he commenting on the questions I asked him the week before.

However, this morning I found an article in the Witness outlining the story of this lady who wanted her money back, and found herself up against Stapleton's Dobermans. The following are my deductions:

• The investor now has become the enemy
• Edwafin do not intend to repay our money and simply denies that the investors have the right to have their money back
• Edwafin has unilaterally altered the terms of the debenture prospectus, and is now essentially sticking its tongou out at its investors
• The folk at edwafin are becoming more and more like the scumbags some commentators tend to describe them
  
• The original threat of high powered lawyers against anyone who tries to take Edwafin on, seems now to have become reality
• Edwafin and Stapleton are less than sincere in there dealing with their investors, and it is mind boggling that they are still trying to get more investors to invest in them.

In view of its beligerence against its investores, it is now my opinion that this should be brought out into the open. I realize that I had made an undertaking not to publish the blog before 31 May, in light of the disdainful way they have treated this lady (who simply demands what is now rightfully hers - like most of the investors), I don't think it is necessary to wait any longer. I pressume I will simply receive the same treatment when the time comes.

As from tomorrow, 25 March 2009, around noon, this blog will go public, and will be advertised at every nook and cranny that I can find, and that will hopefully attract the attention of other investors and/or potential investors.

The reason, why I have to wait 24 hours, is that I would like to get the Facebook support group of the ground, and that may take a while. The facebook group can be found at http://groups.google.com/group/myedwafin, biut needs activation and will also be advertised as wide as possible.

The friendly bantering Mr Stapleton and I had over the last months seems to have been a complete bluff, and behind the outgoing and friendly fascade there seems to be a vindictive, insincere, hard and greedy man. Bless him in any case.