OLS Enterprise   

Transcu

waiting at 5 cts...

 

Could it be UOBKH, was shocked by the figure $47,520. No wonder Transcu decided to change the accounting firm recently. After the correction, now the figure $47,520,000 is correct, it helps to put the heart back to normal. Should be more healthy and calm going forward.. :)

 

just wondering why is UOBKH curbing this counter....

 

Bro, last minute sell down, was in the queue for 0.6cts. Wasted didn't get at 0.6cts. Based on the article, BB has  est. net proceed  $47,520,000.  It is a joke no one detected the mistake early ... $47,520. Big difference !!! Crazy lor.  Today, contra players got flushed out at 0.6cts. Wonder tomorrow any more selling at 0.6cts. Cheers

mrwise      ( Date: 06-Oct-2013 02:15) Posted: Should not go below 0.006... Gd to collect...

 

Newbe1001, the recent saga 3 king kongs really affected the sentiment of penny stocks. Look like even with good report, traders are also hiding. Rabbitfoot, did they response to your enquiry ? Chill ... 

newbe1001      ( Date: 12-Oct-2013 15:40) Posted: must have faith in this company and its business

 

Bro, according to the latest news, the estimated net proceed is $47,520,000. 

CORRECTION OF AMOUNT OF ESTIMATED NET PROCEEDS

The Board of Directors of Transcu Group Limited (the " Company" ) refers to the announcement dated 20 August 2013 (the " Relevant Announcement" ) on the proposed issue of 1% unsecured equity linked redeemable structured notes due 2016 by the Company to Advance Opportunities Fund. Capitalised terms not defined herein shall have the same meanings ascribed to them in the Relevant Announcement.

The Board wishes to clarify that the amount of estimated net proceeds of the Proposed Issue (assuming that all of the Tranche 1 Notes, Tranche 2 Notes and Tranche 3 Notes are issued and after deducting the estimated professional fees and fixed expenses) should be approximately ?S$47,520,000? and not " S$47,520" as initially stated in paragraph 3 of Section IV " Purpose of the Proposed Issue and Use of Proceeds"   of the Relevant Announcement.

The Board also wishes to clarify that if the Company's legal fees and other fees payable to the regulatory authorities in preparing and submitting the necessary documents for the Proposed Issue were included as expenses, the estimated net proceeds of the Proposed Issue (assuming that all of the Tranche 1 Notes, Tranche 2 Notes and Tranche 3 Notes are issued and after deducting the estimated professional fees and fixed expenses) would be S$47,452,000 instead.

By Order of the Board

TRANSCU GROUP LIMITED

Lawrence Komo Chief Executive Officer 16 October 2013

 

Bro, you mean they will entertain your email ??? Maybe you can ask them when is the next AGM ? What is your view regarding the latest a article ??? 

After the 3 king kongs saga, nowadays must be extra careful .... everyone cheong cheong cheong. Don't believe you read all the counters, but when ask why cheong leh, ...   no reply ...

 

I used to buy at $0.011 and sold at $0.012..now at $0.008..
Dun know what to say..

 

Do let me know abt their reply too. Thanks!!

rabbitfoot      ( Date: 12-Oct-2013 15:43) Posted: I bought 3 mil lots double the current price :( I emailed to their ir if BMe is of any hope

 

Lol, just 3k lots ...

rabbitfoot      ( Date: 12-Oct-2013 15:43) Posted: I bought 3 mil lots double the current price :( I emailed to their ir if BMe is of any hope

 

I bought 3 mil lots double the current price :( I emailed to their ir if BMe is of any hope

 

must have faith in this company and its business

 

Bro, it looks like the time has come to jeep. The BB is attractive for collection. Any comments .....

 

All the seniors, found this article, .... 

NOTIFICATION ON CHANGES IN SUBSIDIARY

The Board of Directors of Transcu Group Limited (the ?Company?, collectively with its subsidiaries, the ?Group?) wishes to announce that pursuant to the allotment and issuance of 940 shares by Biomass Energy Corporation (?BME?), an indirect subsidiary of the Company, to a third party investor on 5 September 2013, and the exercise of options by a director of BME on 30 September 2013 (which options were issued by BME on 21 March 2012) resulting in 560 shares being issued to such director, the (indirect) shareholding of the Company has decreased from 66.6% to 45.4%.

As of the date of this announcement, TTI ellebeau, Inc., a 100%-owned subsidiary of Transcu Ltd (which is in turn a 100%-owned direct subsidiary of the Company) has a shareholding interest of 33.95% in BME and Transcu Green Tech Pte. Ltd., which is a 100%-owned direct subsidiary of the Company, has a shareholding interest of 11.45% in BME.

By Order of the Board

 

UPDATE ON THE SUBSCRIPTION OF BONDS

The board of directors (the ?Board?) of the Company refers to the Extraordinary General Meeting of the Company held on 7 November 2012 (the ?EGM?) and the announcement released by the Company on 20 November 2012 updating shareholders on the subscription of the Initial Tranche (the ?Update Announcement?). Capitalised terms not defined herein shall bear the same meaning ascribed to them in the circular dated 23 October 2012 to the shareholders. Further to the EGM and the Update Announcement, the Board wishes to notify the shareholders that as of the date of this announcement, the Subscriber has made a further subscription of S$2,572,000 on the Subsequent Tranches. Therefore, as of the date of this announcement, the Subscriber has subscribed for the aggregate principal amount of S$4,000,000 for the Initial Tranche and an aggregate principal amount of S$4,632,000 on the Subsequent Tranches. The consideration for the subscription of S$2,572,000 by the Subscriber on the Subsequent Tranches shall be satisfied by way of full and final settlement of the outstanding loan of S$2,448,674.91 (the ?Loan?) (together with accrued interest of S$123,325.09) due from the Company to the Subscriber. The Loan forms part of the shareholder?s loan which has been assigned to the Subscriber on 4 October 2013. The use of proceeds from the further subscription of S$2,572,000 by the Subscriber on the Subsequent Tranches is not in accordance with the use of proceeds set out in the circular dated 23 October 2012 to the shareholders. However, the Board considers the settlement of the Loan by way of the further subscription of S$2,572,000 by the Subscriber on the Subsequent Tranches (the ?Settlement?) to be in the best interests of the Company, after taking into consideration the following factors: (a) the Settlement results in the conversion of a current liability (as the Loan is currently overdue) into a non-current liability, improving the current ratio of the Company?s balance sheet (b) if the Subscriber chooses to convert the Bonds into Shares, the Company will be able to capitalise its liabilities and (c) as a condition of the Settlement, the Subscriber has verbally committed to bring in S$500,000 within the next month for the purpose of funding the Company?s short-term working capital purposes. The remaining interest of S$121.97 (the ?Remaining Interest?) payable by the Company to the Subscriber shall be satisfied by way of either of the following methods, in the sole discretion of the Company: (a) by cash within 10 business days from 4 October 2013 or (b) by way of deduction from the relevant subscription price in respect of any subsequent subscriptions of Subsequent Bonds by the Subscriber. By Order of the Board Transcu Group Limited

Lawrence Komo

Chief Executive Officer 7 October 2013

 

Company was initially profitable but they gave cash back and dividends before. Subsequently they started to experience shortage of funds. The then Japanese CEO pledged his shares to some institution and couldn't pay in time. This dropped confidence of investors who unloaded everything thus reducing its capitalization forcing it not able to attract investment for funding its operation. They are hoping for revival and whether renaissance will come or not will depend on their "IP" of the renewable energy technologies. The Biomass Machines they are building could sell them some funds if they could convince governments of the world to use them, I think.

mb7269      ( Date: 06-Oct-2013 09:05) Posted: correction... this company is not profitable... terencee      ( Date: 05-Oct-2013 10:00) Posted: The only reason why the AGM is postponed is mostly linked to the books. If the books aren't finalized, AGM can't proceed thus the delay in AGM again and again.  If this company is so profitable, the books should be fine. Why it can't be finalized till now ? Trade with care. I almost dive into this counter once when it was trading at 10. I'm glad I didn't

 

correction... this company is not profitable...

terencee      ( Date: 05-Oct-2013 10:00) Posted: The only reason why the AGM is postponed is mostly linked to the books. If the books aren't finalized, AGM can't proceed thus the delay in AGM again and again.  If this company is so profitable, the books should be fine. Why it can't be finalized till now ? Trade with care. I almost dive into this counter once when it was trading at 10. I'm glad I didn't. darknite      ( Date: 03-Oct-2013 07:56) Posted: wow is the management trying to repeat history? even the supposed postponed agm has no updates.     Further to the announcement made on 16 July 2013, the Board of Directors of Transcu Group  Limited (the ?Company?) wishes to announce that pursuant to the application made by the  Company, the Accounting and Corporate Regulatory Authority has granted the Company an  extension of time, up to 30 September 2013, to hold its Annual General Meeting under  Section 201 of the Companies Act (Cap. 50) for the financial year ended 31 March 2013.  By Order of the Board Transcu Group Limited Lawrence Komo Chief Executive Officer  22 August 2013

 

.004/5 still possible..

waiting to collect 

 

Should not go below 0.006...

Gd to collect...

 

The risk of total losing all your money in Transcu can be averted by exchanging it for say Sunmoon say at 0.003 cents where you could get some changes back yet still have a fighting chance to make back money since Transcu has never shown improvement while Sunmoon had in their Balance sheets, profit and loss statements as well as Cash Flow statements. Just weigh the mathematics.

Do your own due diligence.