It happened again. Someone sent an important comment concerning the state of affairs of DMA, and I moderated it via my cell phone. By George! this morning I discover that it wasn't published yet. And now that it has been published I can't find it. This person seems to know about DMA and says:
An aside: It is interesting, that the word "litany" also means prayer - so that is what they have been doing all this time!
Anyway, it is going to take some time but I will compile a list of dates and statements/promises by these folks to give you an overview of how they have tried to lead the investors by the nose - yes, like donkeys they dangled carrots before our noses, and when one carrot shrivelled up, they used a new one. The list is going to take some time but should be an indication of how little one can depend on, and trust in, these participants to the human race.
The latest issue is, of course, the impending court case - you know, the one that wasn't going to happen.
When at a recent meeting some of the investors requested a vote on the liquidation of Edwafin, the directors would have none of it. To support their point they provided figures to indicate that the company was a profitable and viable one. Of course, at that stage Don and Patrick both confirmed that with the help of their all-powerful but cheap advocates, a deal had been made with the lady and the court case was "finish and klaar" ala Patrick. Good!
Well, we all know that that was not true - don't we now? So shuddering in their little booties, the four applied for Judicial Management on the day the case went before court - thereby stalemating the works, and postponing the case again with a month.
Am I having visions, or are the four still shaking in their little booties, because now they want the help of the same investors that they treated with such immense disdain, whom they have lied to and deceived, to support their request for Judicial Management.
But they are cunning! (slinks of skelm, met ander woorde):
Do not be fooled - this pretty picture is no longer so- the factory has been devoid of semi-built vehicles for months, the workers (save for 1 Pat Malone) have been retrenched, the offices vacant save for 4 idle space fillers, equipment and stock is 'disappearing' and not much else happening except for pie-in-the-sky talk of a mine vehicle.This morning, as I went through the documents to find the instances where I, and other have been told about how the court case against Edwafin by that dear lady was of no consequence, I found a litany of memorable sayings by first my dear friend Patrick and then a bit later his associate, Don Hutchinson. Of course little Verona, is just off-stage, but still requires the prompter.
Who will design the vehicle?
Who will build the vehicle?
How will they buy the parts?
Worth R128 Million? - sure, and Patrick Stapleton is just a good man who has been misunderstood...
- Still not holding my breath, but sick to my stomach nevertheless.
An aside: It is interesting, that the word "litany" also means prayer - so that is what they have been doing all this time!
Anyway, it is going to take some time but I will compile a list of dates and statements/promises by these folks to give you an overview of how they have tried to lead the investors by the nose - yes, like donkeys they dangled carrots before our noses, and when one carrot shrivelled up, they used a new one. The list is going to take some time but should be an indication of how little one can depend on, and trust in, these participants to the human race.
The latest issue is, of course, the impending court case - you know, the one that wasn't going to happen.
When at a recent meeting some of the investors requested a vote on the liquidation of Edwafin, the directors would have none of it. To support their point they provided figures to indicate that the company was a profitable and viable one. Of course, at that stage Don and Patrick both confirmed that with the help of their all-powerful but cheap advocates, a deal had been made with the lady and the court case was "finish and klaar" ala Patrick. Good!
Well, we all know that that was not true - don't we now? So shuddering in their little booties, the four applied for Judicial Management on the day the case went before court - thereby stalemating the works, and postponing the case again with a month.
Am I having visions, or are the four still shaking in their little booties, because now they want the help of the same investors that they treated with such immense disdain, whom they have lied to and deceived, to support their request for Judicial Management.
But they are cunning! (slinks of skelm, met ander woorde):
- First, abracadabra! they provide you with different figures that make it look as if the company is worth virtually nothing - we dealt with that yesterday.
- Then they want you to believe that they can make up the R200,000,000 during bad economic conditions, and in such good time that the investors will be paid again from August (2009?). That while they lost the same amount, during the five good years! Ingenious, masterful, intellectually unequivocal. The omit to tell us what will happen if their conjecture flops - doesn't happen. It is like the authority-supported clause in the prospectus that tells you that they will pay you back when you default. Like a silent fart: you hear nothing, but the smell hangs in the air.
- Thirdly - they are transparent you know - they give you the vote: you have a choice: either we get sequestrated or your choice is for Judicial Management. The third option they do not mention directly, and that is to have the court decide by simply abstaining.
Aren't they decent people, these? Of course they are, but giving the investors a choice in the matter is not really what they want, because Ms Cowan speaks on behalf of the four when she says in her letter (24 April 2009):
After all the deceptions they have fed us, they persistently refuse to provide investors with proper financial statements. They are good talkers (on second thought, perhaps not even that), but don't seem to realize that the investor can only make up his mind about these things when he sees figures on paper - this Patricksonian blabber-mouthing is just not enough anymore - in modern parlance: it sucks. The only conclusion one can come to is that once again they are again leading the investors on a path of deception. THEY ARE JUST NOT TO BE TRUSTED.
Nevertheless, I still have a deep feeling of fondness and admiration for these people - let's face it they are part of my reality, and as such have a purpose to fulfill.Next time, I will choice another reality, one with fewer funny people.
"It is our bona-fide beliefs that a liquidation order made against the company would be to the detriment of all concerned, investors, employees, shareholders and their respective families alike, and to that end we advise that we will continue to strenuously oppose the liquidation application."Isn't she just too sweet? She actually blushed when she wrote this, I'm sure. What she is actually saying is: "we give you a choice, but if you do not support us, we will fight you with all our might." She also expresses her concern, after they have laid off most of their staff (and the remaining ones are hardly paid salaries), and they have taken their investors for a merry joyride all over the universe. Naturally, the money (that is no more) that they will use to fight you, is/was yours - so they can afford to spend it. Giggle, giggle, giggle.
After all the deceptions they have fed us, they persistently refuse to provide investors with proper financial statements. They are good talkers (on second thought, perhaps not even that), but don't seem to realize that the investor can only make up his mind about these things when he sees figures on paper - this Patricksonian blabber-mouthing is just not enough anymore - in modern parlance: it sucks. The only conclusion one can come to is that once again they are again leading the investors on a path of deception. THEY ARE JUST NOT TO BE TRUSTED.
Nevertheless, I still have a deep feeling of fondness and admiration for these people - let's face it they are part of my reality, and as such have a purpose to fulfill.Next time, I will choice another reality, one with fewer funny people.
Posts
