Auhua Clean Share Discussion Threads

[narindg] 01/9/2010 08:15

what it worth - 2p 3p what shambles

[newkid] 01/9/2010 08:14

Looks like this is now dead. De-listing. Is Helphire next I ask myself. Their Bath office closed yesterday.

[sundaymonday] 01/9/2010 08:04

Significantly diluted?

Yep, I make it diluted by a factor in excess of 15:1, we do not know the details yet but something of that order or worse.

[campbed] 01/9/2010 07:58

Convertible debt for equity swap and therafter shares to be delisted. Current shares likely to be valueless.



No position

[knowing] 31/8/2010 14:23

LOL some people. Have you looked back further that a week?

[sundaymonday] 31/8/2010 14:12

I hope they do turn it around, for the sake of the employees.

But they would need to radically change the business model to turn a very poor idea into a profitable business.

[rmillaree] 31/8/2010 14:04

Hello sundaymonday

It wouldn't surprpise me in the slightest too.
A lack of timely financial statements that give a true picture of the finances is never a good sign.
I have not seen any guidance given by the company that they are profit making now - in the absence of this i would presume they are still making losses.

It's all speculation on our parts though - there will be an update at some stage in the nearish future and there is always the chance that the company have managed to turn things around.

[sundaymonday] 31/8/2010 12:17

I'm expecting ACE to go into voluntary liquidation quite soon.

[rmillaree] 31/8/2010 12:10

Should be this afternoon if we believe what the company says.

[knowing] 31/8/2010 12:04

We expecting results this week?

[thenorth] 27/8/2010 21:00

ossis yep things have changed and IMO for the better, CHO's in the main have cleaned up their act, nothing has changed in terms of insurers trying to cut CHO's out of the loop but as i say they are very much in bed with D.A, Enterprise and others etc and cream the commissionsm they also farm out details of persons that have poss PI claims...
Its also nothing new that invoices are settled at less than the initial amount and ACE as well as others have provision for this under recovery.
I am hearing that average hire days and therefore average hire invoices are reducing by a small amount but the knock on to that is that invoices are being settled much quicker and without the need for litigation and in many cases within 90 days...

good to have you here and look forward to more questions and views from you.

wilba... i also think news next week.... finance sorted with M.S???

TN

[wilba] 27/8/2010 16:16

Nice string of buys coming in today. Poss news on the horizon.

[ossies] 27/8/2010 09:41

TheNorth - I cannot recall where the defendant insurers were sourcing their courtesy vehicles in those days.

However, they were definitely starting to try and cut out the credit hire companies tied in with legal expense insurers. In those days the rates/period of hire/type of vehicle provided were being disputed across the board by the defendant insurers with some basis imo.

I was on the claimant side and we were having real problems recovering the charges and often the credit hire companies (who we in effect we were acting for) regularly accepted lower offers than the figure in the invoice.

One of the main disputes was that people were left with these hire vehicles for inordinate lengths of time and as they thought they were getting the vehicle free (often they did not realise they had signed a contract saying they were ultimately responsible for hire charges) so they just went along with the situation.

If I recall correctly there may have been litigation ongoing even then specifically related to the credit hire industry but my memory is fading:)

I have no idea how the industry has evolved in the years since and was just interested in this thread when I stumbled across it and will keep an eye out for the outcome.

[thenorth] 27/8/2010 09:22

No sunny its from another contact... i dont suppose he would give that kind of info up!!!!

we shall see... roll on next week

ossies just to let you know, there has never been a time when insurers owned loan vehicles, they are now using CHO's themselves and pocketing any commissions generated. I can also confirm that if say the insurer had a claim where they were the guilty party they would try to supply the victim a lesser car through a CHO (norm DA or Enterprise) and thus save themselves some cash...

DYOR though...

TN

[sunny925] 27/8/2010 09:07

Hi TN - did you get that from Steve Evans when you called him - any inclination of outcome??

Thanks

[ossies] 27/8/2010 06:15

Just had a quick look at this thread.

When I used to work in this area of law (admittedly some years back now) the defendant insurers were starting to offer their own free courtesy vehicles to claimants to avoid unreasonable/excessive claims being submitted by credit hire companies.

The problem at that point was that in many cases the credit hire vehicle had been provided before the defendant insurer became aware there was a claim forthcoming.

I assumed credit hire would eventually become obsolete, but obviously not having seen this thread and it does not surprise me one bit to see it escalate to the litigation as seen here.

[thenorth] 27/8/2010 00:06

report due next week???? news on funding????

TN

[old codger] 22/8/2010 21:13

left school at 15, retired at 55, cse in rounders

prejudice aside, coalition said there was hope

can i prove them wrong

[wilba] 21/8/2010 20:53

SB With an army background as well. GNG and RB. You seem to be the same poster. SAD Basta*rd.

[thenorth] 20/8/2010 22:58

Freedom of speech is fine as long as its based upon fact and not one mans vendetta or personal opinion which is largely based upon fiction and bias opinion oh and poor journalism (last bit IMO of course)... like I say there are a few oilers taking action against such 'freedom of speech' merchants... here to do us PI's such a huge favour... I wonder if S.B can tell us why he is being filtered and moderated on the RHK thread....

On the subject of scams and such like can someone explain why most insurers are in bed with CHO's, use the service and take any commissions available to them????

So i urge anyone having a question by all means ask, those making statments.. check your facts first...

TN