Are we counting correctly?

Yes, we on this side of the boerewors curtain lso received our notice of the impending meetings - it only came a few days later.

First let me give some statistics, for those who are so inclined. Since I began counting on 5 April we have had 1207 visits and these visitors visited 2763 pages (in Google parlance it means they didn't stop or bounced at the first entry page, but also visited other pages). Visitors came mostly from our own country, how else, but also from the USA, Mexico, Britain, Australia, New Zealand, and of all places a few live in Norway. There we are, just had to mention that for those who find numbers interesting.

Speaking of numbers, the Edwafiners are also fond of numbers, especially when they can juggle them. In my blog yesterday I gave some reasons why I would possibly vote to givie Patrick and friends an opportunity. However, in the meantime I have done some more thinking, and again and again I am stumped by the trust issue. Again, I should tell you that I am more-or-less over the possible loss of money issue, and what needs to happen, will happen. What grinds me to little pieces, is the total untransparent way in which things have been handled by the famous four in Durbs. Even at this stage of the game, they see fit to try and pull the wool over our eyes - is there just no end to their bungling art of deception?

It all started with the original lack of funds (or was it the inoperable computer software) around October last year. Somebody must have seen that the bull was racing at the fence. Are they such imcompetent business people that they did not foresee what was going to happen (they wouldn't even have to consult the I Ching)? Ek dink hulle is sommer net dom-astrant", as an old school friend would put it. Then the deceptions and lies just became worse and worse.

And now, even when the penny is about to fall over, they still haven't got the guts to play open cards with the investors. The seemingly have no compunction to spin their fantastic tale, now here, and then there.

Let's have a look at what Don had to say at the meeting of 17 Marchy 2009 in Durban:

"Don referred to an amount of R15 million in terms of shareholders equity....this cannot be converted into cash. The bulk of the company's assets sit in the Paragon derivatives which is the offshore investment .... as well as DMC which is worth R128 million..."

In my book, as I have mentioned on a previous occassion that adds up to R143 million.

Don smilingly leaves the stage. Remember he wants to make the point that Edwafin is still a viable business proposition. His argument, along with main protagonist Patrick is to leave well alone and let them do the business (although, I think they have a different meaning for the word than the accepted norm.)

Enter the stage Verona Cowan, as cute as she can be. She wants also want the investors to give Edwafin a second chance as well, but her argument is to have the company placed under Judicial Management (something must have changed their minds). To underline her argument she also provides figures. At last we get a figure of Edwafin's debts: R228,504,615.00. She also provides us with the company's assets: R16,585,195.00. Huh? Now, I'm no MENSA candidate but there is a small difference between R143 million and R16.5 million, I would say. Are we perhaps being played again? In my opinion, they are really trying to pull the wool over our eyes again, especially this time.

Verona, Verona (sounds like the first line of an Italian love song), have you been taking lessons from the boss again? Remember, practice makes perfects, and you are still a long way away.

Verona wittled away about R2 million for prefferential creditors. So lets take the same amount of Don's version of the assets and we get R141 million. According to my calculations that would gives us a potential return of 61%, or R0.61 per one rand. Did little Verona possibly make a mistake with the placement of the little dot, I wonder?

Of course my calculations are not correct, the would heftely retort, and probably that is so. One only arrives at correct results if you are given the correct numbers from the onset. The rest is purely a waste of time.
Again, all this is purely my opinion, how can one believe anything these people have to say, whether it be by letter, or at a meeting. I simply do not trust a word they have to say.

Another thing. If little Verona's figures are correct, it means that our star and starlettes have wittled away over R200 million during the past five or six years, and that is not counting the R5 million profit that they were so proud off when they still existed on the internet. By jove, how are these seemingly imbecile-like creatures going to get the business on a profitable level again? They spent it all! (according to Verona) You must be joking! OK, perhaps there was still a chance if we had Don's version to go on, but now that Verona's numbers have entered the arena I can only see bloodshed at the hands of these gladiators from hell.

I am not sure if anybody at Edwafin still reads these comments, and I don't care too much either. However, if somebody there reads this: "Please we are all on the same planet, your truths don't work, and your deception is utterly transparent - why not try to tell us the real truth for a change? It is difficult, I know, one developes a rut and a unpleasant habit; an unsatisfiable thirst for being deceptive. Yet, as someone said: the truth provides liberty and space for sensible action."

Isn't it absolute hilariously rediculous, that the onus is now placed on the investors with Edwafin to decide between two evils, and that they must base their decision on biased and uncertain information from the same people that whittled their savings and pension money into oblivion, and who continue to play an evil game of deception with them? I find all this extremely interesting, in that the bosses at Edwafin have set the agenda for the meetings that they are convening, and have provided you with only two possible choices, again presenting you with facts that suit their own agenda.The matter is before court in two weeks time, if investors are under any false impression that they have to make a decision in this matter, they fell for the Edwafin deception once again.
Are we such fools?