Mojoman Posted August 18, 2021 Share Leatt Corporation is a great South African business success story. It is a global powerhouse in protective wearables and has seen strong growth over the last year. The Leatt story began in 2001 when Dr Christopher Leatt witnessed the death of a fellow motorcycle rider. https://mybroadband.co.za/news/business/410160-south-african-company-whose-share-price-increased-by-1700-in-15-months.html Link to comment Share on other sites More sharing options...
DJuice Posted August 18, 2021 Share Going to be a bit negative. Was initially skeptical when a family member told me she holds shares in Leatt. Took it as a ja boet story. Few months later she shows me the original share certificate issued to her husband. Farmers in the Boesmanland, having shares in a cycling company, would not have believed in a 100 years... Was very keen to assist her to transfer the shares to her name as per the will, but was quickly disillusioned. Try and get a hold of some one to assist with a share transfer from the estate. The share dilution back in 2012 was not great for initial investors, 25 / 1. Shares trading in US OTC, seems like the OTC is a gamble in the US. My comments to her was to hold on to the shares. Mojoman and DieselnDust 2 Link to comment Share on other sites More sharing options...
J Wakefield Posted August 18, 2021 Share Wasn't he sequestrated and not a Dr anymore? Link to comment Share on other sites More sharing options...
Duane_Bosch Posted August 18, 2021 Share 33 minutes ago, DJuice said: Going to be a bit negative. Was initially skeptical when a family member told me she holds shares in Leatt. Took it as a ja boet story. Few months later she shows me the original share certificate issued to her husband. Farmers in the Boesmanland, having shares in a cycling company, would not have believed in a 100 years... Was very keen to assist her to transfer the shares to her name as per the will, but was quickly disillusioned. Try and get a hold of some one to assist with a share transfer from the estate. The share dilution back in 2012 was not great for initial investors, 25 / 1. Shares trading in US OTC, seems like the OTC is a gamble in the US. My comments to her was to hold on to the shares. Yeah..... I have some of those self same shares. Link to comment Share on other sites More sharing options...
Simon123 Posted August 18, 2021 Share 31 minutes ago, Duane_Bosch said: Yeah..... I have some of those self same shares. swap em to heat the pool Link to comment Share on other sites More sharing options...
Duane_Bosch Posted August 18, 2021 Share 1 minute ago, Simon123 said: swap em to heat the pool They are worth a little more than that. Link to comment Share on other sites More sharing options...
DJuice Posted August 18, 2021 Share 35 minutes ago, Duane_Bosch said: They are worth a little more than that. Her shares are also worth something, even more at the share price quoted in the article from my initial $10.50 calculation. My local experience with OTC is that it is not always easy to off load. Her case even more complicated with the death of the husband and the changes required on the share certificates. Link to comment Share on other sites More sharing options...
DJuice Posted August 18, 2021 Share 1 hour ago, J Wakefield said: Wasn't he sequestrated and not a Dr anymore? Not sure. Received a few bar in remuneration from the last AFS I could find online. There is definitely a back story that I am not privy to from a settlement reach that was part of the Form 10-K filed with the Securities and Exchanged Commission. Link to comment Share on other sites More sharing options...
Simon123 Posted August 18, 2021 Share 1 hour ago, Duane_Bosch said: They are worth a little more than that. Thats great. Perhaps also add a Raptor kit to your bakkie?? Hairy, The Ouzo, Sid the Sloth and 1 other 4 Link to comment Share on other sites More sharing options...
DieselnDust Posted August 18, 2021 Share 3 hours ago, J Wakefield said: Wasn't he sequestrated and not a Dr anymore? sequestrated or sequestered ? Neither as far I can establish. Still practicing medicine as well is the current info I have Link to comment Share on other sites More sharing options...
J Wakefield Posted August 18, 2021 Share This article says he was left in a spot of bother. https://www.iol.co.za/news/south-africa/robin-hood-medic-found-guilty-of-fraud-85968 DieselnDust 1 Link to comment Share on other sites More sharing options...
Puncture Kid Posted August 18, 2021 Share As a company, they have excellent service. Had a question about neck brace and I could phone the marketing manage himself and get all the info DieselnDust, DonatelloOnPinarello and Danger Dassie 3 Link to comment Share on other sites More sharing options...
DieselnDust Posted August 18, 2021 Share 1 hour ago, J Wakefield said: This article says he was left in a spot of bother. https://www.iol.co.za/news/south-africa/robin-hood-medic-found-guilty-of-fraud-85968 wasn't aware of that thought it doesn't mention anything about losing his license to practice and since he's still practicing I guess it was more a warp on the knuckles than anything else. DonatelloOnPinarello 1 Link to comment Share on other sites More sharing options...
DonatelloOnPinarello Posted August 18, 2021 Share I honestly don’t know what to make of this thread. This is definitely the most quintessentially South African thing I have seen in a long time. This brand produces really amazing products, priced fairly, that riders from all across the world choose, because it’s a great brand. But here we are slagging off at them, making sure everyone remembers that the founder is a good for nothing scoundrel, because 22 years ago he was caught up in some insurance fraud. Got caught out engaging in a practice that was rife across the industry, and still is today, got made an example of, paid back the money, the whole R90k, and his R30k fine, moved on with his life, built this amazing business, that we should want to claim and be proudly South African about. The riders all over the world using their product couldn’t give a hoot where it’s from, they just care that it works, exactly as advertised. But Saffas are more concerned about that little misstep from 2 decades ago, and slating the man. Why is it so hard for us to celebrate our neighbours success in this country??? most of you spend your weekends playing with your toys that cost double what he “defrauded” the medical industry in 2000. While the business he built grossed almost $40mil dollars in sales in 2020….. but we can’t let go of the horrendous fraud he commitment a lifetime ago, and paid back. A fraud worth less the price of the bike your going to ride to an absolutely mediocre result this weekend. Give it a break. Why are South Africans incapable of celebrating someone else’s successes. Until I saw this thread, all I knew about Leatt was they made great products, and they were based in Cape Town, which was a cool anecdote to share with riders from other countries who don’t really even know where South Africa is. after reading this I’m glad to know they only generate 4% their revenue locally. I hope they also pay little to no tax here and I will fully support them when they eventually shut down their SA based HQ and take all of their business elsewhere. Who would blame them. Just like we now try hard to claim Elon Musk as one of ours. He saw the light, and moved on from this place a long time ago. I don’t blame him. KB280DT, Stretched@Birth, DieselnDust and 6 others 6 2 1 Link to comment Share on other sites More sharing options...
Danger Dassie Posted August 18, 2021 Share Believe another Saffa with an innovative local company was also instrumental in being part of the Leatt brand via the neck brace development. Mark Hopkins of cSixx. SA has an extensive and innovative cottage industry in cycling and outdoors products, severely under rated. Hairy, DieselnDust, MajG and 2 others 5 Link to comment Share on other sites More sharing options...
DieselnDust Posted August 18, 2021 Share 36 minutes ago, DonatelloOnPinarello said: I honestly don’t know what to make of this thread. This is definitely the most quintessentially South African thing I have seen in a long time. This brand produces really amazing products, priced fairly, that riders from all across the world choose, because it’s a great brand. But here we are slagging off at them, making sure everyone remembers that the founder is a good for nothing scoundrel, because 22 years ago he was caught up in some insurance fraud. Got caught out engaging in a practice that was rife across the industry, and still is today, got made an example of, paid back the money, the whole R90k, and his R30k fine, moved on with his life, built this amazing business, that we should want to claim and be proudly South African about. The riders all over the world using their product couldn’t give a hoot where it’s from, they just care that it works, exactly as advertised. But Saffas are more concerned about that little misstep from 2 decades ago, and slating the man. Why is it so hard for us to celebrate our neighbours success in this country??? most of you spend your weekends playing with your toys that cost double what he “defrauded” the medical industry in 2000. While the business he built grossed almost $40mil dollars in sales in 2020….. but we can’t let go of the horrendous fraud he commitment a lifetime ago, and paid back. A fraud worth less the price of the bike your going to ride to an absolutely mediocre result this weekend. Give it a break. Why are South Africans incapable of celebrating someone else’s successes. Until I saw this thread, all I knew about Leatt was they made great products, and they were based in Cape Town, which was a cool anecdote to share with riders from other countries who don’t really even know where South Africa is. after reading this I’m glad to know they only generate 4% their revenue locally. I hope they also pay little to no tax here and I will fully support them when they eventually shut down their SA based HQ and take all of their business elsewhere. Who would blame them. Just like we now try hard to claim Elon Musk as one of ours. He saw the light, and moved on from this place a long time ago. I don’t blame him. Well said amen and amen Link to comment Share on other sites More sharing options...
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