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AUK - AuMake Limited

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Re: TTN - Titan Energy Services

VSntchr said:
Another trading halt.
I can only imagine the words coming out of holders mouths as they see the reason: guidance and general trading update :cussing::shoot::chainsaw::swear:

I highly doubt this will be positive.
Click to expand...

A long halt and now some horrible news.
They could only get $0.8m from insto...so I highly doubt they will fill $4.3m from retail....even at 15c which is a 25% discount to the last traded price..
Ouch.
 
Re: TTN - Titan Energy Services

VSntchr said:
A long halt and now some horrible news.
They could only get $0.8m from insto...so I highly doubt they will fill $4.3m from retail....even at 15c which is a 25% discount to the last traded price..
Ouch.
Click to expand...

Not a very reassuring set of circumstances at all.

They are basically raising emergency capital to keep the lights on... I am surprised the insto offers got done @ 15c.

The retail offer is almost guaranteed to be an epic fail.
 
Re: TTN - Titan Energy Services

skc said:
Not a very reassuring set of circumstances at all.

They are basically raising emergency capital to keep the lights on... I am surprised the insto offers got done @ 15c.

The retail offer is almost guaranteed to be an epic fail.
Click to expand...

Yes, there's no sugar coating on this - it is needed to ensure survival.

It is interesting that directors are picking up their entitlements, although I'm sure they want to keep their jobs.

ASL investment is also a vote of confidence.

While the holders might not want to throw more money at it, if they don't they lose everything. Gun to the head scenario. If you didn't want to participate, you would want to sell on market, but there was no mass exodus once trading resumed.

Something to think about.
 
Re: TTN - Titan Energy Services


The retail offer is partially underwritten to $3.3m. In addition to the $1m placement to ASL, they will have enough to meet the minimum raise requirement (set by senior lender, p.14 of presentation).

So retail holders can choose not to participate.
 
Re: TTN - Titan Energy Services


Good point, thanks skc.
 
On July 19th, 2016, Titan Energy Services Limited (TTN) changed its name and ASX code to Augend Ltd (AUG).
 
On September 26th, 2017, Augend Ltd (AUG) changed its name and ASX code to AuMake International Limited (AU8).
 
AU8 all over the place after yesterday's debut on the ASX, reaching highs of 27c today. It looks to be settling down around the 20c mark. Currently at 19.5c.
 
Interesting company, if we can't sell ore we may as well sell retail goods!

Their balance sheet is concerning though...
  1. Total net revenue for 2017 was $13, 551
  2. They sold $9.1 million worth of stock for $10.3 million in 2017 (i.e. 13% margin on products)
  3. They have $2.5 million in assets, of which $1.9 million is stock (which will presumably sell for $2.1 million) and $0.25 million cash
  4. They have also borrowed $1.1 million worth of inventory from the Director, which is supposedly forgiven

Those margins are slim pickings!
 
I didn’t research them just saw a news item and thought it sounded interesting, Chinese selling to Chinese in Australia seems fairly safe. Huge volume today. I’ll hang in for a while.
 
Good news - have now doubled my money
Bad news - wasn’t confident enough to put much in.
 
I'm pleased to see that @MrBurns .
There might be a lot more in this one. Yesterday's volume was huge but today's follow through is impressive. Of course there were a stack of people taking short term profits. I was one of them. If price closes above 0.55, then that's a sign of strong demand and further price increases.
 
Volume is about the same as TLS and it's only lost 2.5c so far, see what happens before the close.
 
Sold and got my investment back and left the profit in there, it's looking good at present.
 
Communist shell company skillfully cuts out share holders for cronies once again -

AuMake, an Australian retailer that sells local goods aimed at the Chinese, has cancelled its capital raising, sending its share price down more than 8 per cent to 48 cents.

The company, which sells baby formula, dairy products and cosmetics, says its underwriter has terminated its agreement, a move AuMake says is "reasonable given recent share price volatility". (Interesting, they don't say 'they are dissapointed and that the share price volatility is not a reflection of the stable growing business as most decent public companies would.)

As a result, AuMake will refund all application monies received, withdraw its entitlement offer(shove it up Australian share holders A holes,) along with its shortfall offer, and will instead raise $14 million through selling its securities to (Chinese cronies) investors at 45 cents a share. (F_ck you Ausi morons)



One wonders why our powdered milk suppliers allow these pricks to sell as much ausi powdered milk as their Chinese customers (who then export it for a premium) want whilst our supermarkets limit everyone to 2 cans a day
 
Just another company being swept up by the Chinese, should probably be posted in the "will China own the world " thread.
It is amazing how many companies are quietly being swallowed up.
 
Maybe Dick Smith could get into powdered milk to test local support..........
 
Disappointing full year results for AuMake International. $9 million in revenue resulting in a $5.8 million loss, or 4.8c per share. With these kind of losses it's hard to see how AU8 can avoid another capital raising this year. $5.39 million cash left in the bank.

I reckon AU8 still has a lot further to fall unless the company can turn things around fairly soon. Share price down 6c to 32.5c so far today.
 
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