Atlas Pearls Ord Shs T.ATP

Primary Symbol: APCFF

Atlas Pearls Limited is an Australia-based pearling business company. The Company is a producer of South Sea pearls, specializing in white and silver pearls. The Company operates approximately seven pearl farms throughout the Indonesian archipelago, from the national park lands of Banyu Biru to Flores, and as far east as West Papua. The Company is a fully integrated business including hatchery, seeding, harvesting, grading, trading, design and manufacturing capabilities to sell directly to customers through wholesale partners and via its retail outlets. The Company provides a range of products, such as DOUBLE PEARL BRACELET, CAGE PENDANT, KESHI STUDS, VINE RING, SIMPLE SHEPHERD HOOK EARRINGS, TOP HAT PENDANT, SICKLE PEARL RING, NEOPRENE PEARL BRACELET, FLAT BUTTON STUDS, BUBBLED RING, NEOPRENE PEARL BRACELET, FIXED PENDANT, FILAGREE CUP STUD, FLOWER FILAGREE PENDANT, PAVED DIAMOND PENDANT, OPEN PETAL RING, SIMPLE SHEPHERD HOOK EARRINGS and CAGE PENDANT.

OTCPK:APCFF - Post by User

Atlas Pearls Ord Shs

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Post by Conquistador1on May 15, 2013 1:26pm

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Post# 21398102

Analyst Conference Call

I listened to the questions from the analysts, in the latest conference call (from about the 30 minute mark).

The analysts seemed very wary, in the questions that they put to management (my opinion). They were focussed on the debt covenants related to the company's senior credit revolver. Fortunately, this revolver loan is undrawn and discussions with the bank are expected to be concluded in the next 60 days. They did ask if the dividend could be cut further, in order to satisfy the bank, and the response from management was that they thought that this was an unlikely scenario.

The company did state that they wanted to reduce leverage.Will they walk the talk?

I don't own the common shares, though I do have exposure to the prefs (b), and the nonconvertible debts.

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