Member Info for GodWilling

Who knows. Wonder what’s happening with Ezry..

Yep. Appears they seem to be keen to liquidate. Wonder if the SH will get any pennies after liquidation

On May 12, 2020, the District Court of Beer Sheva, Israel, ordered the liquidation of the Bagir Group, Ltd., a company registered with the Israeli Companies' Registrar under registration number 51-399480-6. The Court appointed Advocate Shavit-Stricks of Haim Zadok & Co, Law Offices, Israel, as trustee for the company in accordance to the provisions of the Insolvency and Economic Rehabilitation Law, 2018. The company's liquidation is supervised by the District Court of Beer Sheva (Liquidation File Number – 11925-04-20).

https://www.google.co.uk/amp/s/www.haaretz.com/amp/israel-news/business/.premium-fearing-bankrupcy-wave-israeli-government-to-offer-debtor-relief-1.8841753

Think the BOD should be blamed more than Covid. They should have had funds for a few months esp since having Ruyis deposit.

O well it is what it is, painful that iv lost so much!
Wass Mo will be saying I told you so lol

Debt of 5 million??? How?

Was only a couple Yeats ago that this was around 2p

So an RNS tomo???....

Apologises for the terrible grammar and typos, (was using my phone). Totally agree, PPE clothing would be a great avenue to go down, don't think their current machinery would do this as its designed for wool/cotton and not plastic, but if the BOD weren't so lazy then avenues could have been explored. Hopefully that this will come good (but with 15k invested, I have to be hopeful!) Gl all

Never saw the news, but so many huge companies getting hit, and quite a few have already gone into admin.
Online companies such as Boohoo and ASOS will do will.
Who is going to by suits now when there work, events, weddings are all on pause??
Bagir needed to be more proactive and diversity. Could they still do it? Unlikely but not impossible. Rather than suits could they make other clothing objects?? (not sure how difficult it is with machinery etc)
Will find out soon enough...

I think my average is around .3ish!
This will come good by the end of the year!

I was in here couple years ago when price was far off 2p. At that time targets were 3p!
This does have huge potential, and these low SP it can only go up!

A sensible decision from GWMO!

https://www.textileworld.com/textile-world/knitting-apparel/2020/03/ruyi-group-amicably-negotiates-with-israeli-mens-clothing-manufacturer-bagir-to-resolve-mutual-concerns/

Ruyi could make an offer again possibly, they are still in "friendly discussions", they probably offer much much less than before. If they offer 5mi (a third of what they offered before), then the SP would be 1.15ish

I still believe that there is potential in the company, but AIM is full of corruption and the board don't give a crap about SH....

Such a shame, I think my average is around 1.3. At this moment 1p sounds amazing! Still hopefully that we walk away with something from this...

Looks like everything maybe lost. Such a shame I invested heavily thinking that there was huge potential in this. 1.5 million shares pretty much gone

That would requite some initiative from the board, they seem to be lazy (they're getting paid regardless). There is always other avenues the company can look down, they have been around for half a century- they must have some contracts??

Yep. Director’s have taken the ****, and SH get screwed over. It’s fairly common in AIM but I thought it would be different in a company thats been around for 50 years.
Hopefully we walk away with some of our money

H1 Trading Highlights
? Steady trading period reflected in a 32% increase in revenues to $32.8m (H1 2018 $24.8m) driven by increased sale orders from existing customers and sales to 19 September 2019 were $46.0m with an order backlog of $20.1m
? Improvement in adjusted EBITDA* to $1.0m (H1 2018: loss of $1.7m) and gross margin of 11.9% (2018: H1 6.7%)
? General and administrative expenses decreased to $1.1m in H1 2019 (H1 2018: $1.5m)
? Reduced loss before tax of $1.05m (H1 2018: loss before tax of $3.6m)
? Cash and cash equivalents of $1.6m as at 30 June 2019
? On 19 June 2019, a new unconditional completion date, of 31 March 2020, was announced for Shandong Ruyi to make the remaining cash payment of $13.2m and complete the proposed transaction
? Appointment of Micha Ronen as CEO, well known to the business having previously held the roles of CFO and Deputy CEO of the Group
? Operational focus on providing innovative products to major apparel clients in the US and the UK alongside expanding the Group’s uniform division

1.6 mill in the bank 9 months ago- you would think they must have some in the bank.....