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FUL, FULCRUM EQUITY LIMITED
roddombo
post Posted: Sep 11 2007, 02:13 PM
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In reply to: handel on Tuesday 11/09/07 02:50pm

It sure is up Handel and on HUGE volume worth $1474 and with a VWAP thats up 13.62% smile.gif- AHG next big thing ...NOT LOL

Their pharmacy must be doing well... or people might just be happy that as of a few weeks ago they actual appointed a general manager.... or it my have been a tag for a few bucks by someone propping the shareprice hopeful to get an ok sale value... smile.gif-





 
handel
post Posted: Sep 11 2007, 01:50 PM
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In reply to: roddombo on Tuesday 11/09/07 11:04am

No need to worry. AHG is up 20% today :-).

h.


 
roddombo
post Posted: Sep 11 2007, 11:04 AM
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In reply to: tedarcidi on Friday 11/05/07 08:37pm

Did anyone see the balance sheet in the report? These guys now look like they have choked themselves with debt after the promise of a cash filed balance sheet.

Its sad and its been badly managed lets just hope the Iridium IPO will deliver some value from whats left in their stake after that woreful debt deal they did to fund the woeful AHG investment. More importantly lets hope AHG turns around and doesnt drain any value that is left in their iridium stake. Also lets hope healthpoint can deliver some profits this half from its Sigma contract...

Sad result for holders and a lot of work needed to turn it around

 
tedarcidi
post Posted: May 11 2007, 07:37 PM
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In reply to: roddombo on Friday 11/05/07 11:48am

surely (if they can sell it, which it doesn't look like they can) they need to clear the 10 mill debt they are about to draw on for the buying of these AHG shares


 
roddombo
post Posted: May 11 2007, 11:48 AM
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In reply to: datum on Friday 11/05/07 01:56am

I agree Datum. The other business' have great potential but its potential. The other interesting bit is will they return the Iridium cash to shareholders as promised or re-invest?

Basically if they distribute 4 cents per share and the share price falls to 3-4 cents and Healthpoint looks like it will succeed they will again be a bargain. From that scenario it is well worth watching and I am doing just that. Worst case scenario is they fail on the three points I listed in a prior post. If that is the case who knows what will happen.

 
datum
post Posted: May 11 2007, 12:56 AM
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QUOTE (roddombo @ Wednesday 09/05/07 11:18pm)

roddombo,
I have never owned FUL/QAD scrip.
You put me onto FUL when you posted on the "fastest growing small caps"
thread. The price was about 4 cents then , so it been a good call by you
if punters bought then.

Being a long term investor i didn't jump in , & then the price got away from me as it shot
up to 10 to 12 cent mark.

This did not concern me , because my fall back strategy was to buy when the
irdium capital return happens. Say the s.p. is 10 cents & they have a 5cent capital
return the price will naturally drop to 5cents.
After the sale i would also have a much clearer idea of what the market values
their core business at.
I think their core business could be quite a success , so i am still interested in FUL
in that regard.
.......datum



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tedarcidi
post Posted: May 10 2007, 11:18 AM
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In reply to: roddombo on Wednesday 09/05/07 11:18pm

paid 7c 18months ago doubling up
after paying 40c in 2002
less 1/2c cap return
=
miserable (a.k.a. gimp)

but thanks anyway !


 
roddombo
post Posted: May 9 2007, 11:18 PM
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QUOTE (tedarcidi @ Wednesday 09/05/07 08:03pm)

Tedarci
Dont fill like a gimp. I think it was a smart play. I did the same thing (but sold all mine at 11 and 11.5) and I am sure your returns are still positive by a good % . You have just been burnt by bad management I think not bad judgement.

Datum
You are correct. The net proceeds were going to be around 22mil i think from memory, very dissapointing considering the growth in the asset and the premium value attached to its 25% voting rights (as opposed to around 6-7% ownership). When I got wind on that figure was about when I sold, had half my money in it till then. As you will see below I was thinking much much bigger. If you look at the valuation on Globalstar (US listing with no profits and a dodgy network) I think the thinking I had was fair just that these guys did a bad deal. Anyway at least it has been scraped. Hopefully for current holders he can come back with a $50million offer from a US hedge fund (not impossible) but with these guys I just dont see it as being likely. Do you still hold?

(ps when I say they did a bad deal it not true exactly. They themselves didn't do the deal. Basically their US Investment bankers screwed them as due to the fact the directors were not from the US they weren't allowed to get into the books for the sale process as all. the trust in US bankers was always questionable and prooved so when the best they could get was the 20 odd mil)

 
datum
post Posted: May 9 2007, 08:08 PM
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In reply to: roddombo on Wednesday 09/05/07 06:35pm

roddombo,
i am bit confused about their irdium stake. Have they sold it.???
& if so how much. i did have a brief look thru the ASX releases , but
cannot find anything. I vaguely remember a figure of $US20 mill.

regards datum



--------------------
This is not a bottom draw stock. This is a stock you take to the grave with you.
 
tedarcidi
post Posted: May 9 2007, 07:03 PM
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In reply to: roddombo on Wednesday 09/05/07 06:35pm

very good roddombo - nice summary

pretty much thought that was how it was, but needed a second opinion

they better get a much better iridium price for their shares, coz as i see it, the dividends have stopped and are going into mother iridium's debt (i could be wrong, that's just how i read it) - thereby effectively being reinvested !

i thought i was smart doubling up into these over 18 months ago, having seen major losses pain prior to that..... whilst everyone else was jumping into resources hype etc......... but now i feel like a complete gimp....... talk about going backwards .......


 
 


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