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U spot on liao......voluntary suspension. 
gravity8888 ( Date: 07-Mar-2022 08:58) Posted:
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Alpha DX flags going concern uncertainty after recent problems with creditors
LEARNING solutions company Alpha DX Group flagged uncertainty over its ability to continue as a going concern, in its response to queries from the Singapore Exchange (SGX) on Tuesday (Mar 15).
The company noted that since its previous going-concern assessment on Mar 2, it has received a letter of statutory demand, and negotiations with its creditors have either deteriorated or not yielded desired outcomes.
Alpha DX had on Mar 4 said it received a letter of statutory demand from Kydon Holdings over the payment of a sum of S$1.9 million, relating to the remaining consideration and interest charges for the acquisition of Kydon Learning Systems Institute - now known as Zionext.
It also made an application to Singapore' s High Court for the grant of a moratorium under Section 64 of the Insolvency Restructuring and Dissolution Act, as a short-term measure in order to allow the company time to resolve its cash flow issues, the company said.
Its board of directors expects the company will not be able to continue operating on a going-concern basis unless the group receives a fresh injection of funds.
The company noted that its cash and cash equivalents of S$3.4 million, while able to partially satisfy its short-term liabilities, is not sufficient to cover all its short-term liabilities of S$7.3 million.
By Dec 31, 2022, while the company may be able to obtain an additional S$5.3 million to S$5.5 million in cash inflows if it can restructure its short-term liabilities into periodic payments, the group also expects it will incur around S$9.2 million in net cash outflows.
As for its in-principle agreement to convert liabilities of S$1.1 million into shares, the company is renegotiating settlement terms with the creditor, after the trading of the company' s shares were suspended.
Alpha DX had on Mar 11 requested for a trading suspension, until there is " clarity on the affairs in the company" , including its ability to operate as a going concern.
The company noted that it is discussing with potential investors and with controlling shareholder Didi Investments for a further injection of funds to resolve its current cash flow issues, although the negotiations " are not conclusive at this juncture" .
Alpha DX had previously received a notice of compliance from SGX RegCo after 4 of its directors quit over the span of 2 weeks. Earlier, the company had also received a termination notice and a writ of summons from its sponsor PrimePartners Corporate Finance over unpaid sums and late interest charges.
Wow ..hope this counter is not a joke .. just resume trading not long then now halt ..better dun go into suspension if not this counter can close down for long liao cos no investor will be interested
RECEIPT OF STATUTORY DEMAND
The Board of Directors (the ' Board' ) of Alpha DX Group Limited (the ' Company' , and together with its
subsidiaries, the ' Group' ) wishes to inform shareholders that subsequent to the receipt of letter of
demand as announced on 25 February 2022, the Company has on 4 March 2022 received a letter of
statutory demand dated 4 March 2022 from the solicitors of Kydon Holdings Pte. Ltd. (' Vendor' )
pursuant to Section 125(2)(a) of the Insolvency, Restructuring and Dissolution Act 2018 for alleged fees
owing by the Company (the &ldquo Letter of Statutory Demand&rdquo ).
The Letter of Statutory Demand is for payment of the sum of S$1,900,377.08 as at 4 March 2022
(' Outstanding Sum' ) in relation to the remaining consideration and interests charges for the acquisition
of 100% equity interest in Kydon Learning Systems Institute Pte Ltd (now known as Zionext Pte. Ltd.).
The Vendor has demanded payment within three (3) weeks from the date of service of the Letter of
Statutory Demand, failing which the Vendor may commence winding up proceedings against the
Company.
The Company is seeking legal advice with respect to the Letter of Statutory Demand to determine its
next course of action.
Further announcements will be made by the Company via SGXNET as and when there are material
developments in compliance with the listing rules of the Singapore Exchange Securities Trading
Limited.
The Board of Directors (the ' Board' ) of Alpha DX Group Limited (the ' Company' , and together with its
subsidiaries, the ' Group' ) wishes to inform shareholders that subsequent to the receipt of letter of
demand as announced on 25 February 2022, the Company has on 4 March 2022 received a letter of
statutory demand dated 4 March 2022 from the solicitors of Kydon Holdings Pte. Ltd. (' Vendor' )
pursuant to Section 125(2)(a) of the Insolvency, Restructuring and Dissolution Act 2018 for alleged fees
owing by the Company (the &ldquo Letter of Statutory Demand&rdquo ).
The Letter of Statutory Demand is for payment of the sum of S$1,900,377.08 as at 4 March 2022
(' Outstanding Sum' ) in relation to the remaining consideration and interests charges for the acquisition
of 100% equity interest in Kydon Learning Systems Institute Pte Ltd (now known as Zionext Pte. Ltd.).
The Vendor has demanded payment within three (3) weeks from the date of service of the Letter of
Statutory Demand, failing which the Vendor may commence winding up proceedings against the
Company.
The Company is seeking legal advice with respect to the Letter of Statutory Demand to determine its
next course of action.
Further announcements will be made by the Company via SGXNET as and when there are material
developments in compliance with the listing rules of the Singapore Exchange Securities Trading
Limited.
TRADING HALT !
$AlphaDX(VVL.SI)
Rather than looking at the recent acquisition and financials which in turn is an interest person transaction, I think we should look at the article in SGX.
Basically it shows the company is very forward looking in their business. In the future, the company will be amazing being a frontrunner in the metaverse within the Edtech.
DYODD - the turnaround will definitely happen but at least take 1 years to see full result of the change.
https://www.sgx.com/research-education/market-dialogues/20211125-alpha-dx-revolutionises-learning-technologies
The spread so far ..very illiquid
I need 1.28 for breakeven
Load more also won?t move. Unless u are trying to get out at 36 then maybe director can buy yours.
weishent ( Date: 12-Oct-2021 11:19) Posted:
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Waiting the director load more at 0.36
You shall load some more and make it move hahahah
gravity8888 ( Date: 12-Oct-2021 10:29) Posted:
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Till now no movement sia .
sorry 2500 shares after consolidate
I still holding to 100lots when fly then sell
This counter very thinly traded.
If not in need of the money, just keep it there.
Should see better future going forward.
If not in need of the money, just keep it there.
Should see better future going forward.
Still waiting... concussion?
Aiyo no movement will go down 0.188 soon
Waiting for liquidity to pick up
CEO did mentioned during zoom presentation.
Learning platform will be the game changer.
If all go according to plan, this platform will help generate huge revenue.
But must be patient.....not immediate......one, two years down the road probably.
Nevertheless, the other pillars of their investment will also contribute.
Learning platform will be the game changer.
If all go according to plan, this platform will help generate huge revenue.
But must be patient.....not immediate......one, two years down the road probably.
Nevertheless, the other pillars of their investment will also contribute.
For_The_Next_Leg ( Date: 20-Sep-2021 13:31) Posted:
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We'll have to wait for liquidity before we can see any px dff in the counter