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Personally, I would have been totally shocked if MT, Chairman...

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acecant

908 Posts.

14

21/04/16

17:22

Post #: 17570567
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Originally posted by False9 ↑

I hate going into town!

if the pollution doesn't give you a headache, or the short skirts & heels don't cause you to walk into a wall you are guaranteed to get a mouthful of some else's exhaled cigarette smoke.

And for what it cost me in tolls I could have bought 4,000 shares in APG and stayed at home.

BUT, I had to go and the Docs I had needed to be dropped off just around the corner from the APG office.

I lobbed in un-announced and it turned out to be a fortuitist visit!

I rang the bell at reception a couple of times with no answer so I rang the office with my mobile and Mr T answered.

MT, when asked if he was there he said he and Mr Gaston were there. When I said I wanted to visit (he didn't realise I was in reception) he said he was expecting the chairman soon but not sure when.

At that point the lift door opened and out came Mr Cuthbertson (Chairman). I said to MT, " I am in reception, the Chairman has just arrived so seeing I am here I may as well speak to you both!.

I was shuffled into the board room and offered tea/coffee/bicky. In order to conserve working capital I declined. The Chairman accepted and Mr T toddled off to the kitchen and clanged around.

I asked a few questions of the Chairman while Mr T played Maid.

After a while Mr T joined us and Mr Gaston returned popping his head in. He said he will catch up later.

Not sure what he was doing but he was back and forth to the copier looking rather busy.

After a while it dawned on me that after spending 5 minutes in the kitchen Mr T returned without the Chairman's coffee. But that's OK because Mr G had now made himself one and was happily sipping on it as he stood Guard over the copier. He wasn't going to let it escape!

After a good 45 mins with the Chair and T, I then adjourned to the less informal soundings of Mr Gaston's office where I had the opportunity to get his views, thoughts and opinions. As expected his desk was busy but all in a tidy orderly fashion.

I tried to read some of the letters on his desk but they were upside down and the print was too small.

After my discussions with Mr G my visit was concluded and I departed.

Am I any the wiser ....yes

Was my visit beneficial .... yes

Did I get a parking ticket ....no

While they could only generalise this what the Chair, Maid and Guard conveyed.....

CASH - position - best it has been for donkeys.

All creditors paid

Chair & Maid remain unpaid

Confident they will survive

Confident of substantial transaction (no details or time frame given)

No Debt

2015 a tough year and IF they were ever going to fail...that was the year

4 transactions being progressed all of which include either full funding for the plant, other funding, use of the technology/license overseas and possible mergers/jv. As we all know they are very limited as to what they could say about these transactions to me.

Quarterly due soon - (I would hope to see a hint of transaction/s forthcoming)

Without me asking they brought up the issue of credibility and new Directors. Pleasing to see they acknowledge there is a credibility problem that needs to be resolved. I'm pretty sure nothing will happen until we get a major deal or the funding for the plant.

So, there we have it.

am I a seller...... NO

am I a buyer ......NO ( Have way too much already invested)

BUY/SELL or HOLD........ don't care, your business, DYOR.... but if you buy and it goes down ....DON'T blame me or if you buy and they do a deal and goes over 2.0c don't give me any credit.

My visit was purely self serving and not for the benefit of any
other shareholders

caveat venditor

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Personally, I would have been totally shocked if MT, Chairman and yourself conveyed a different message! Seems to be the same dribble every year, yet the share price is actually a true reflection of where this company stands. If I put $10k on every 'positive' post from your discussions with Mt & co, I'm fairly certain I would have lost about 90% of my capital.

Anyway BUYER BEWARE! With the track record of management, and the 'great' technology they have had for the past 10 years, can't see what has changed or what is going to change. Very, very sad.

Out of interest, would MT be the oldest MD on the ASX? At what point does he let go? Maybe he will be the guy to turns off the lights.

No doubting his commitment. Unfortunately, he should have stepped aside 10 yrs ago.

APG Price at posting: 0.4¢ Sentiment: None Disclosure: Not Held
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