Our opinion on the current state of ADWAfdawn (ADW) is a small micro-lending company, listed on the Alt-X in 2004. Its share price rose as high as 550c in November 2007, but has since fallen back to 21c. The company is in the process of transforming itself into a venture capital company, selling non-core assets and settling debt - some of which is owed to SARS. The company has two operating divisions - Elite Group, a lending platform and YueDiligence which helps entrepreneurs identify growth opportunities in their businesses. In its results for the six months to 31st August 2023 the company reported revenue up 7,5% and a headline loss of 11,9c per share compared with a loss of 11,6c in the previous period. The company said, "Afdawn continues to raises additional funding as and when required from external parties and supportive shareholders. Management believes that the group should be generating positive cash flows within the next 12 months". The share is too thinly traded to be of interest and is clearly not for private investors.
