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I like your explanation, Skinny Mulligan! if SIAF(TriWay) is selling tens of millions of dollars of fresh fish, monthly, to restaurants, than you are NOT a dead fish! The experience on this board has convinced me that most people, once in, were in and committed to stay in. That has been a surprise to me; along with many other surprises here. My expectation, if this lottery ticket has payouts, is that there are pricing levels at which the exit doors open. Too much unknown while company as well as new director are being silent. I am reluctant to say more but do want to thank you for your postings!!!
about my long position in SIAF being "borrowed" for short sales, Skinny Mulligan, you are less surprised than I, yet, everyday for weeks, I get a daily interest payment for my having had my shares borrowed by someone selling short.
What is the case for short sellers at this level of pps? We saw someone posting that the company will stay unreporting; we saw someone posting that creditors had seized some of the aquaculture facilities; we saw that SIAF attorneys stated to the court that Tri-Way is a SUBSIDIARY of SIAF (as if merely another pocket or shell for Solomon deals); and after devastation from forced selling by Scandinavian shareholders, we saw someone post that other brokers have imposed another forced selling deadline coming later this month. All dots that connect with a story to support a bet on falling pps.
I think the biggest and most imminent reason is the forced selling while the company fails to report.
On the other hand, I see a lot of reasons to take the lottery ticket, so I have bought more shares myself. I may be foolish. Let's revisit in a couple of months.
If the short seller was right or wrong, my income from interest on the borrowed SIAF stake will stop when the position is closed.
This is daily income I had never expected. Yet it keeps coming every day, day after day. Forgive my saying so, but, to me, this is better than waiting on that dividend that was never paid!
about the volatility and how a small dollar investment can change the market range, Skinny Mulligan, that is not what we are seeing. There is almost no volume at all, but on the few days with higher transaction activities, the price has been higher than what it was when I first noticed that my shares had been borrowed for a short seller use.
my wild prediction, if anybody wants a good laugh, is that SIAF will be successful at finding investors pouring into anything from China in some totally illogical and mindless lemming-like splurge of activity quite soon.
it would have been counterproductive to try to promote a turnaround in the midst of the forced selling, so I think downthehatch has the right frame of mind. my expectation is also for a catch up in reporting. probably with some write offs so decks are cleared for reorganization from a position that those seeking capital can more plausibly rely upon. this could still vanish into the losses in the world of investments that do not turn out to have been successful.
very few people have been as optimistic as downthehatch in the last couple of years, so had downthehatch also given up, that would have been a likely low point.
will the new director be communicating proposals to reorganize directly to shareholders? are there sales of fish to restaurants that are in the millions of dollars each month, as sales revenues, and at a nice level of profit? I thought a month ago we would have answers right away, but, guessed could be as far away as three months. on my original timeline for sticking it out, about two months left for outside accountants and the new director to be heard. If I am right, hooray. If I am wrong, then I am not the hardened skeptic I thought I am
one data point that I will share now. curiously, after the decline to just over six cents a share during the forced selling high activity in SIAF, someone went to borrow shares to sell short at near this level. I know because I have an account where my shares were borrowed and as the lender of those shares through my broker I get a daily interest accrual report until the short is covered
at this point, a low price and almost no turnover activity, everything depends on whether there will be those catch up reports. if dark, no reports, no recovery. I hope we celebrate news soon and that the news includes successfully providing tens of millions of dollars worth of fish to restaurants in China
we all, probably few in number, look to be contrarians at best, or, frozen at worst. The "forced selling" has run its course, with the rational outcome from a higher volume that drove down pps followed by the vanishing in transactions until someone has a reason to increase or reduce positions here.
Those of us who are contrarian believe that aqua farming, renting of former plantation or cattle properties, and maybe an upside surprise can be reported. Those among us who bought yet more during the forced selling might have taken profits already, but, such low volume suggests that is not going on. It looks, to me, as if for different reasons, there are shareholders who are holding. One of my past brokers used to pitch what he called investments to enter but then leave unattended on the expectation that they would come into dramatic favor at future but uncertain cycles. This is worse than that because of ?? -- all the known negatives == and a basic uncertainty whether we will see any reported activities.
any opinions or facts worthwhile to share?
A position on the "story" that SIAF used to be made and still makes sense; however, the reality is so overwhelmed with negatives as to justify close to no volume and a less than token trading price. Is there a phoenix coming or just fade away? a lot of what I will decide hanging on wehether we get a report to shareholders
There are only two days after today of forced shareholder selling from Scandinavian accounts, so, reason to believe market action gets a different trend later this week.
I do agree with ROCKHard and DownTheHatch about having a good attitude now. I expect that we will be finding out what the new director has learned, what the actual earnings and opportunities might be for SIAF. (On the downside, though, I do expect some writeoffs and writedowns because of all the suspicions about asset values. In particular, I am worrying that maybe all ponds were either failures or seized by creditors).
I am still expecting that the auditors will issue a report, imminently, and that we will get to read that at least some income is ongoing and reported. Income? The wild card is trading rather than producing fish. Maybe trading is a bigger deal than I expected? There was the rental income and renting out facilities to the former managers likely continued. There might be income from most of the ponds. I am hopeful for upside if the ponds are generating income by supplying restaurants with great food. How many ponds failed? How big a success did any ongoing pond operations produce?
Within three moths we will know if today's six and a half cents per share price is as good as we are going to see or whether there is a business going forward that will yet reward those who stayed in
glad for your tracking that there were at least 40 fiber candidates to introduce to prospective customers. again, if the customer is looking for high value added by technical fibers, there needs to be some rigorous acceptance testing before volume sales, and, that testing has to include looking at variables coming in different cocoon cycles before gambling on the change.
on the other hand, if the prospective customer is looking at a sustainable apparel fabric, that can be a more tolerant of variances buyer at high volumes but with price sensitivity. this is targeting the lower hanging fruits okay, that is good, but, that was not what some investors were hoping to see being commercialized. Can both higher value technical fibers and lower apparel grade fibers come from KBLB in the future? Sure. But, the delay in going after the higher value technical fibers is a disappointment plus inviting competitors to stay in the race.
If you are satisfied that KBLB has a wider moat and higher profit potential already on the shelf and ready to deliver to buying customers, that is far more than I am feeling about this investment.
a really bad signal to fail to report and explain loss of Trevor Kane. Why? the whole business is based on providing technical fibers through genetic manipulation dropped into the ancient processes for silk production. If a likely customer wants to use a little fiber with a wide tolerance for variances, then okay maybe that can advance without someone like Trevor Kane on board. If the likely and highly desired customer wants to add technical fiber as a high value improvement to a product, how many experiments, proof of repeatability and testing for limits of acceptable variances would be done without someone like Trevor Kane in the loop?
We do know that this is terribly bad news.
the contract with M The Movement made little sense before, but, now, it reveals the low level to which we can expect KBLB to realize any of what we had hoped to see coming to market
those who claim that KBLB is the best ticket to hold for technical fibers will be fewer in number as reality replaces the illusions of what could have been
assuming that Polartec does indeed say KBLB fibers are included in its materials for sustainability, that will be quite good news. but, at what level of deployment, with what low ceilings, if limited to the technical fibers already imagined to be passing the standards necessary for commercialization?
I like the dreams for the high tech uses of the fibers. However, the older of the two articles on research in your link was done at a lab in China. The newest proposed space project is the joint Chinese Russian lunar base. The market certainly has been in the USA but the dreams aren't limited to any one locale.
The technology pacesetter might be KBLB; we as investors have bet it is. However, realistically, the failure to produce on that Army contract is as big a negative as WebSlinger keeps pointing out.
A lot of steps before these dreams are money. Yes, customers will pay for the development effort, but, those customers will have on site inspections before receiving any fiber from production. That capability does not yet exist for KBLB. In fact, the customer on deck, M The Movement, is itself not capable of that kind of process although it "bought" shares and the right to a regional exclusive. My hopes are that your dreams come to fruition. Maybe we will see it, but not before at least several more years. Counting on KBLB to win is gamble.
Counting on China to lose is delusional. The newer of the two articles you cited to is about research in Japan. That is exciting Japan has an under appreciated aerospace industry. With strong ties to American enterprise. Might be a wild card in what I expect?
The reason SIAF is a lottery ticket is that maybe Peter is doing instead of talking?
what if there really is a new director who is marshaling the information for future investment worthy decisions?
what if restaurants are paying to get fish from the ponds and eaters are happy with the ingredient?
are there problems to be corrected that might not be capable of solving with value for equity stakeholders?
is there some value that can be brought out of the ruins?
is there some future growth that can benefit the shareholders holding on to stakes after all is gloom, silence or sarcasm?
I agree completely with ROCKHard on his points in the most recent post from him. If, and I realize that "if" is skyscrapingly tall, the company is in business, I want them to put a cam streaming on line from a couple of places in each facility so we do have a chance to see that fish are alive, growing, harvested and restocked.
Part of my distrust even though I really want to believe what is hoped for from the litigants, is that they identified having witnessed creditor postings to seize a couple of facilities, but inadequate info about whether there is turnover of healthy fish at which facilities that are going to be reorganized. I also fear this lottery ticket is most likely going to be worthless. Wanting to be optimistic; but, not having any bases to nod yes to is making it unpleasant to hold on.
On the other hand, if I knew there were healthy fish coming out consistently to markets and restaurants in China, I would be glad to add to my position. I sure hope the ponds are feeding a lot of people and capable of throwing off extra cash. If the litigants have a plan to go forward, we will read it soon
Hydrenesis was said to be providing technology AND bringing in capital, seriously, only a few days ago the story being told was that Hydrenesis had the key technology, contacts and access to capital for SHMP, so imagine my concern when I looked at Hydrensis on line and found that they were relying on business from SHMP and mostly mobilizing efforts to fund charitable water supplies.
Today, yes, today, the big news seems counterproductive to what everyone was expecting. Hydrenesis is being bought with capital and stock? The sad truth is that SHMP has bought the companies that it was saying were its technology suppliers but those companies were relying almost entirely on future business from SHMP. Adding baramundi and salmon without having demonstrations of success from operations with shrimp? This is a down market day, yes, but this news is feeding fantasy without adding substantial real reasons for optimism
look up some JoshTaeger posts from end of January to see how this story went where nobody optimistic could have believed
That was a big negative jolt about what is no longer going on in any operations at the company. I don't recall when nor who posted, but, I do remember someone posting here that they had emailed with him (Anthony, the former research guru). The summary reported to us was that he was no longer in communication with the company (so presumably either no longer employed or worse, having gone without pay long enough to have to be expecting not to return). I think it was long enough back that it was before the expectations about the litigation settlement being posted.
bear in mind, the company seems to be only engaged in two activities. renting what it once operated to the former employees at those facilities, and, being some kind of middleman on trading fish from other suppliers. there really has been nothing to indicate there is any operating facility still within the SIAF entity. Moreover, Tri-Way has reportedly lost at least one or two of its biggest facilities to creditors yet still has unpaid creditors. Anyone having any positive information? Maybe I am ignoring something that was better news than what I am posting as having recalled?
I guess final negative is that we are in a time frame for almost forced liquidation of shares held in Scandinavian accounts, so only negatives in the news for share prospects? Gee, maybe this is the absolute bottom so someone ought to be buying? Does anyone have any reason based on operations in the business to believe there will be earnings that can be growing? If the Tri-Way shares only represent what it sounds like at this moment, why would we be expecting positive earnings?
there is silk from more than just spiders. I agree that on this point, es1 is correct that different spider dna can have radically different properties. On the one hand, in theory, KBLB ought to be able to change the "coding" for the material as customer specifications are being met. However, if KBLB had already won confidence from customers to be capable of performing this, in the past, it would be known. On the other hand, this is the reason to be long this name at this early point.
Is KBLB close to having this capability?
Will competitors bypass KBLB on this path?
Will the business fail before reaching such an important goal?
Is KBLB already having enough of the pieces of the puzzle that performance is assured?
how much time do prospective customers need with never-before-available materials to assure themselves they can commit to using the materials?
why no skepticism about the contract being with M The Movement? If it were, say with a large supplier of fabrics that would be different, but, so far as we know, it is with a boutique that has no capabilities or track record in the markets that can become growing users of fibers. I don't want to be insulting M The Movement nor do I want to presume it has market share it obviously does not now have nor does it have any reasons for us to believe it has capabilities to penetrate those markets. This is NOT what we expected when told that a clothing maker whose label was on items in the closet of John Rice was in talks. This is as far apart from that reach as measured in galactic space, not as close as the width of a mite's eyelash that we had expected.
the tag line about "more to come" is fun as well as intentionally vague. What has come has been little and slow. Okay,a true penny stock feeding frenzy might happen, but, the march towards commercialization is on something less than a paved roadway
from an objective point of view, signing a contract with M The Movement has dissipated none of the uncertainties that you celebrate having been vanquished because there is a signed contract. The contract that was signed appears to be more of a carve-out in advance of real news for diversion from direct sales by KBLB to whoever is sharing in what is siphoned off from ASEAN markets under cover of M The Movement
on the one hand, great hypothesis about KBLB ramp up on the highest value spider silk! on the other hand, the tie-in that was in the press release about M The Movement would have been in part for apparel, the obvious and lowest hurdle to have met. If reaching too high, the risks are greater. How much higher is the risk?
-- lack of track record for consistent production is a hurdle that eventually must be demonstrated to have been overcome for success, until then, we are all on the ride with high hopes but no underpinnings.
-- there are elements to consistent production that include variations in the moths themselves, as well as in their food, and those dynamic variables are not assuredly being met for commercial production. Not having yet been met, not yet having been consistently met, nor as yet having been demonstrably in use by any customer without blowback makes us all early to this party. The M The Movement products that may or may not have had ANY spider silk from KBLB were said by the maker to have a tiny ratio of spider silk. Getting higher ratio by itself may not be the commercial win if M The Movement is going to introduce different uses for the material, but how far afield from apparel are the competencies we trust M The Movement to already have? Honestly, I was worried almost to the point of exiting my KBLB position over whether M The Movement could even penetrate the lowest hurdle markets. Maybe it is able to do more than I expect, maybe others will have success that will give it a boost in its geographic segment? Too many maybes?
-- Korea in particular as an exmaple has a well deserved reputation for being an early adopter of innovations. If this were a Korean mass marketing powerhouse, I would be less skeptical than I am of M The Movement that has less for me to assume is likely to be the success we had hoped for. This means, to my way of thinking, that the path of getting to competitive markets is likely farther away than most posters on this board are realizing. Some posters on this board do seem to have dialed in everything with realism, correctly, but too many are giddy with any favorable interpretations.
Change of topic. Anyone see the reports that Viet Nam has experienced lowest problems with CoVID of anywhere on the planet? Good sign that production is relying on the place way ahead of everyone else in "normalizing" life
the controversy over whether there ARE generators is only part of the concern. I live in an area of many biotech labs. We had a three day power outage about 15 years back. Almost all the "freezers" had back up power for anywhere from minutes to a day, but, NONE were capable of preventing loss of frozen biomaterials for a power outage that lasted that long. Did they change for the future? Is SHMP prepared for what appears to be power losses through 24 hours? If so, with prices for energy (whether any kind: natural gas, diesel, electricity) up substantially over historic norms?
as a shareholder, I do hope the clickbait headlines about 24 hours of rolling blackouts in Texas are already in the normal preparations for the company. I was intrigued that a comment here suggested I posted only to drive pps down rather than to be legit in wondering aloud.
start ups aren't always resilient to strong external shocks, let alone black swans
Dumotier21, u nailed it, yes, I live where the weather is almost always 70 +/- so the headline clickbait about weather elsewhere sounded worrisome
anyone know whether this week of polar vortex weather has impacted operations? I read that windmills froze up and that daily market rates for energy and electricity are up hundreds of percent. I saw freeze has hit San Antonio, too. Did tanks crack? Did electricity stay on? Did shrimp freeze?
yes, I admit, filing instead of being silent (dark) is a positive step. I wish I could say something else positive, but, no, I just read a confusing draft that badly needed edits and more real information, so, saying something positive about steps being taken seems to be rewarding failures without sufficient justification for keeping capital allocated for this as an investment in future -- possible -- outcomes.
Balance all the information provided and CA is not operating nor can it prospectively contribute towards this becoming a lottery ticket for any surprise to the upside. After taking to the side all the outdated projections that cannot now materialize, we have an entity that is demonstrating it cannot manage, cannot restructure, cannot function with any positive vision towards which it is executing. CA cannot both be shut down and where future large projects will be won, can it? Yet, in one part of the filing it is disclosed that CA is no longer operating, in another part that lack of capital prevents CA from operating, and in dozens of places obsolete past histories of hopes for what CA did and hoped to be doing.
I feel frustrated enough not to go on holding shares for a chance at a lottery ticket style of payoff.
My frustration includes that other than historical reporting of the facts of the settlement, there is no transition towards introducing the newly named director (which would have been an opportunity or what more?)
passive rental stream that expires in tranches so how likely to benefit shareholders?
fish trading that appears to have existed before CoVID but we know that was likely interrupted and perhaps terminated a year ago, so what might still have income or future revenues?
companies do not merely walk away with no consequences, so why nothing more specific about the shutting down of failed operations?
RealDutch again provides helpful analysis, thank you. Downthehatch and handlamera are as hopeful as I want to be but cannot reach. Okay, hurrah, no longer "dark" in full, but, barely enough "light" to safely say not different from being dark. At best, hopefulness that this filing indicates more action to be fothcoming, but, if insolvent, if no longer operating beyond passively collecting rents, other than hoping for a miracle, in reality, what is it a shareholder is waiting for?
a couple of questions about how this is being calculated, and, a few answers along the way.
davidsan had asked about the meaning of biweekly, which is every other week. so SHMP is expecting to be loading starter shrimp every other week into nursery tanks. still no answer about how long to keep in the nursery. from the nursery tank to the grow tank, it seems there is a lot unknown about the density. the number of shrimp within a cubic meter of water within the tank. if higher numbers lead to stress that cuts off growth as well as increasing risk of expressing dormant viral problems, why not just exploit that with FEWER shrimp allowed in to the tank, so that they can grow bigger with higher survival? If common practice is high losses during time in the growing tank, then the advantage of RAS or EC or combined technologies seems to be calling out for either FASTER turnaround in and out of the growing tank, or, fewer in because of higher survival rate. if fewer in, then less stress, so with fewer in having higher survival and faster growth, yield has a chance to reach profit? or is the equation always a negative outcome as some bears keep emphasizing?
I know that the "sale" priced shrimp at my local grocery store is always for the frozen, imported, and mid sizes. Demand for the sale items is pretty high. but fresh and larger sizes are sold in a different part of the store so I am guessing to a different customer profile. I will make it a point to compare prices on those variables; fresh v frozen, import v local. My expectation is that there will be no local choices. Is size alone then a valid way to measure for our expectations?
hmmm, the ansa technologies website sez copyright on contents as far back as 2005? the interviews of the head of hydrenesis (who is also the head of ansa technologies) are at these links:
http://voyagemia.com/interview/meet-david-antelo-ansa-technologies-inc-boca-raton/
https://shoutoutmiami.com/meet-david-antelo-emergency-water-purification-equipment-engineering-and-manufacturing/
anyone have opinions to share about diving deeper into hydrenesis with Natural Shrimp?
adding another layer of distrust, it turns out that hydrenesis (for two of its three business divisions) is itself promoting technology not from itself but from https://www.ansatechnologies.com/
hydrenesis has three customers in the industry segment shared with natural shrimp. the three names with testimonials on line: hanilu farms, natural shrimp and F&T. where have we seen those names before? where have we wondered about revenues in the context of those names before?
remember that video interview with a member of the board of directors who explained he was interested in both helping those who needed help and in making profits? think of that in the context of what we learned on line about the water purification technology business for social and environmental motives being provided for promoting by hydrenesis
joining in the polling:
A. 10K-50K shares
B. 1-3 years ago
none of the choices available for when I would sell, probably a little profit taking and re-entry on swings, then holding for many years until taken out, say at a merger?
E 2024 as the year likely to see success on top of success if I had to project
trying to anticipate new entrant in existing marketing channels? the plan was to sell to restaurants? maybe gourmet rather than fast food? what I heard from management in recent videos was grocery chains at first, then probably from on site company store with likely packaging at 6 and 12 shrimp each package. so the pricing for smaller packages with a few other enhancements? if fresh rather than frozen? if American (local) grown? is there a different price point if free from farm raising over use of antibiotics?
I agree that we will likely see a move in pps in a couple of weeks. A lot of trading opportunities during all these uncertain outcomes, at least a timeline of seven months of great uncertainty other than likely wild swings in pps ahead.
my suspicion is that we are going to see mostly demonstrations to support licensing to others for production.
the LOWER the number of shrimp, the LARGER the size, so dropping to 21 to 25 range is the opposite direction of those popcorn shrimp sizes. it is probably more than six months away from knowing if they can deliver a commercial crop each week of any size. that is why there is a market for those willing to put money on whether the crop comes in, whether the shrimp are teeny or large (in shrimp labels, jumbo, colossal, etc, but the COUNT per pound is for pricing, the label is for marketing). 21 to 25 are quite large, well in the range for the gourmet restaurant representations
schooled on numbers, schooled on fish, eh?
Rose101, are you sure they intend production? hear me out. I think they have the intent to produce as demonstration, then license. they keep emphasizing that they are doing research through demonstration, so I think the path is not to hold on to the production turns but to have licensing revenues.
"hard to borrow" means that those who do have long positions can get paid for allowing their shares to be borrowed. the borrowers can put up cash collateral plus pay a daily interest rate while the shares are borrowed. it is not that the shares are not available, rather, think of it as the shares have to be borrowed at more onerous terms by the short seller
seriously or sarcastically? would anyone accept being a director without first knowing about solvency? would anyone accept becoming a director if basic corporate functions (audit, compliance reporting, website) are NOT funded from ongoing revenues?
I think everyone realizes that MAYBE experienced investors somehow failed to plan or complete due diligence; yes, but, anyone credible as a director to represent investors would have answers BEFORE being seated, right?
Just how much information was from the plaintiffs is a mystery. Someone, who spent tens of thousands of dollars ABOVE any sums for purchasing shares, suspects some core revenue producing operations to be restructured.
How many expect no reporting, just a dark company as a footnote to history for written off investment?
How many on this board expect dark until different entity, maybe tri-way or some other reverse merger going public through SIAF?
How many on this board expect reporting within a few months with ongoing reorganization?
I am hopeful for reporting quite soon.
We are expecting that "trading" continued at a profit, right?
We are expecting that rent from leasing former operating farms continued to be received, right?
We are hoping that some ponds were producing and selling fish at a profit, right?
We know that at least one farm was lost to creditors, right? Related to that, we are expecting some accounting nightmares to be disclosed, right?
We are expecting notice of annual shareholders meeting to confirm the director being added, right?
some here are over-reacting to the news with ADM and spiber.
looking at what is said: ADM is simply producing the protein, not anything beyond the protein. ADM makes that production here in the USA and ships to spiber facilities. Those spiber facilities are likely in both Japan and Thailand. In spiber facilities, the high volumes of USA produced proteins are to be processed into what might be products, more likely component materials, for light weight transportation products (likely car seats and potentially even tires). also, apparel, though how that can be cost effective is beyond speculation because of the many steps between what is announced and what would be ready to wear.
that is far different than what some posting here have interpreted is going on.
spiber doesn't have more than, at best, pilot production from which to scale. probably a good bet that excitement is more than a few steps shy from profitable execution.
as to KBLB, yep, eggs were announced as ready to be shipped. yep, once shipping succeeds, then feeding mulberries has its own mysteries before success. then remember that step about going to outside reeler before being ready to ship to a customer for then finding out if more than mere hope?
someone had posted incredibly helpful timelines for all this back before the failure last Winter. If I recall correctly, we have another calendar quarter of multiple uncertainties to be overcome. where is the cash for that time frame of efforts?
neither spiber nor kblb is a cog in any machine creating end products that companies can reorder based on profitable outcomes. not yet. not likely for more than another year
what about the poisoning by overspray of pesticides near mulberry?
yes, it is a big deal and worthwhile that others have posted about the temperatures during Winter.
also, a big deal, worthwhile, but as yet un-commented upon, is that separate from cold weather, separate from ten months of growth of mulberry trees, someone had found and posted for us that Viet Nam had engaged in inter-cropping, that the mulberry trees are interspersed among other crops. for those other crops, overspray of pesticide has contaminated the mulberry leaves.
isn't everyone curious and does anyone have any data on what is being done about that poisoning of the silk-makers as a failure point?
I worry about lack of disclosure about the monitoring of contaminants. there being contaminants in material used for say fibers reinforcing tires or shoe soles is unlikely to be a problem. more risk of spreading contaminants to where harm is done might come from say using as a brake pad or a personal protective wearable.
how safe is chain of making and using products like wound dressings if contaminants are carried in the material?
my expectation is that the stronger and lighter fibers are going to find high value markets in transportation and likely we will see a few years of development efforts by customers. the customers need to discover whether the fibers can be engineered with the right resins for the right results. I think we will see chopped fibers integrated into feed for three dimensional printing as one of the earliest small but high value markets.
according to my expectations, while fun to imagine apparel as a huge market, the price and value points probably are not going to be there.
the point made by RealDutch is an important one. What is different or what is fraud or what is looting of assets?
no reliable financial reporting. no operational reporting. no path towards auditors from Hong Kong stalled out for CoVID lockdown. no path towards financing any turnaround. no date for electing directors (with nominees from plaintiffs). "no joy in mudville" that seems easy to find.
I guess the tipping point is whether (assuming news and reports come) there are writeoffs, markdowns and admissions of failure or "discovery" of zerohedge having been right? the flipside? if plaintiffs did beat the bushes and know what is what and where is where for executing on a turnaround, that would be oh so satisfying to see.
accordingly, from my viewpoint, it is not about whether there are great people about to be nominated to the board of directors; rather, the questions are the same as always, are there revenues, and if so, are revenues able to sustain continuing operations, and if so, is there a growing revenues strategy that can be put into effect?
reply to EmptyOne. yes, you nailed the financial horrors facing any turnaround for either company. combine that with the lack of reporting on what revenues the TRADING OF FISH or the RAISING OF FISH might be producing and one has to wonder whether a turnaround is possible. assuming that the objectives of plaintiffs are now met for this step, that they have won at least a couple of years of counterbalancing at the least and maybe outright veto at the most as to Solomon, what steps advance revenues? dispose of property rights in some kind of quick liquidation and distribution? bring in capital to expand some segments of operations that have been capable of segregation from failures?
yes, exactly as NordStorm and DownTheHatch had posted. Judge was reasonable, reassuring and complete. Absolutely clear that the plaintiffs are now INCENTIVIZED to act along with the interests of the rest of us. Absolutely clear that Solomon is curtailed from further dilution (though how that balances against best business judgment is not ventured). Absolutely clear that uncertainties face any viability for either Tri-Way or Sino Agro Food. Absolutely clear that Plaintiffs attorneys, current and past, are paid directly from pockets of plaintiffs.
where do we expect Plaintiffs introduction of governance changes to impact? I still see unanswered the postings from RealDutch that both entities need loans or new capital. Are we expecting to see new loans being disclosed as an upcoming high point?
volume in SIAF today, before the hearing had started, was about double recent average daily volume, which itself has been terribly erratic, shockingly low. obviously, some people are going to wait out what will unfold as a consequence of today's hearing, or, perhaps some are just holding the shares as an untended position in portfolios?
My hope is that there are far better communications about operations forthcoming.
although it is intriguing to speculate on the uses as well as early users of spider silk materials, I see evidence of a resurgence in traditional silk uses coming onstream, too. (see for example, this link where 3 to 5 times more silk is being used in new generation of silk bedding at https://www.kickstarter.com/projects/vesta-sleep/vesta-silk-filled-duvet-sleep-with-thermoregulating-fabrics/description which is using small family silk farming suppliers from Southern China as their suppliers).
Any buzz about applications for wound dressings or structures for tissue treatments being filed with CDER at FDA?
Anything other than speculating about what is in the closet made by a company that is interested? Anything new or beyond Warwick and Polartek?
I am excited about prospects for this material to be used, too, but find the whole financing and capitalization controversy to be disturbing.
interesting that NordStorm and RealDutch are not in agreement whether there is value that can be unlocked. RealDutch made it clear long ago that money was needed, cash, to get operations (whether trading or ponds) to be more profitable, and, that profits at that point did not cover the outstanding old financial liabilities. if some unpaid liabilities led to someone in China getting a court order posted on at least one building, am I (or aandt) over reacting to the risk that RealDutch fears is being realized by calling it an already sunk (underwater, financially failed) business? I would love for the shares to be a lottery ticket that realizes gains, but, even if seen exactly as self-serving for the plaintiffs as NordStorm sees the filing document 101 for which a link was posted for us by RealDutch, it looks like debts that were old are alligators biting off pieces from Tri-Way. If those pieces being taken by creditors are not material to producing revenues, okay, good for remaining shareholders. are new loans going to be easy to get and on terms that generate return to equity holders if old loans led to creditors attaching assets through court orders?
I am bothered as I have previously posted by the lack of information about whether the historic ponds are producing income from growing and selling fish, in which case all can be resolved favorably by strong negotiations. If, as ZeroHedge has posted those ponds produce nothing more than algae blooms, then I cannot figure out how the future revenues can be generated in ways to benefit the existing shares of equity.
if the ponds have not been successfully generating fish that successfully generate revenues, that explains why creditors are going after the facilities as a last recourse. RealDutch once posted that big losses led to cutting off investment support for some facilities, so maybe we are seeing what was cut off. but where is the retained core, the legacy, the results from the ponds that do produce fish and income? if it is there, then the shares arguably have value, but, nobody seems to know the status, from Tony in Hawaii to anybody anywhere?
opinions on that document? the one that sez inspection found a court order posted on a building in favor of creditors attaching assets? the one that sez why the Tri-Way shares are arguably for now worth no money and that added capital is not part of this settlement? what I did not see is any report of whether there were fish in production and marketing. anyone?
I guess the trade in frozen fish is easier to exploit holding from sale until better prices, unlike the fresh fish from ponds that has limited time frame for any delivery? I guess some fish from inventory held for sale in the normal course of business could instead be ground up to feed a later cycle of newer fish to exploit an opportunity to delay for higher selling prices, but, at great risk.
I sure wish there were streaming cams by the ponds and some kind of data on survival and production and weight/size gain
if already optimistic about dividend and results from settlement, we might be getting especially good news about revenues for this month, last month of the reporting quarter.
Does anyone know about seasonality of production and revenues? Is this too hot a time of year for speediness to market opportunity?
if Zerohedge is right that only scum but no fish are being produced, nothing matters, nothing at all, not even the settlement. if NordStorm is right that plaintiffs likely undertook serious due diligence on TriWay operations and only then entered into the settlement terms, then this is suddenly a wonderful turn.
does anyone have any idea for independent verification that fish are being produced and sold at this point?
maybe we will see a sudden video from Tony, eh? Or, worse, we will be told of sudden surge in costs of feeding fish without offsetting increase in selling price?
more news about exploding prices and collapsing supplies of food in China. Up to 1/3 of crops might be being withheld from normal marketing to exploit the rising prices
thank you, RealDutch, so we would have expected and ought to be expecting an annual shareholder meeting in December of each year.
Understandably, the litigation settlement contemplates nomination of independent directors, but we should expect that to be formalized in time for a shareholder vote. Maybe that means notice of the annual meeting in late October or during November?
I am hoping there is a strong chance that you and NordStorm will agree to be candidates, too.
My speculation has always been based on the likelihood that fish are being successfully raised and sold. If I did not think that was true, then I would neither initiate nor hold a position.
I have not really counted the fish trading divisions as being sufficient to justify the investment in a business turnaround that affects share prices. In particular, RealDutch, you have held out for most of the last two years, some hope that Capital Award could win contracts to develop and build out more pond, and, that has always been in my mind like an added possible bonus.
The renting out of the former plantation and cattle properties should be income producing and even thriving operation for the tenants in the current Chinese agricultural environment. It seems we should see good news and some revenues from this part of SIAF.
The one thing that I credited to Solomon has been his ability to maintain good business relations with the local government councils, with confirmation that he won funding on their endorsement even if merely in token amounts. He may have had insensitive hearing to others, but, he clearly heard and was heard by the local politicians.
Paying out from his personal shares in TriWay, and, having to receive approvals from plaintiff's designated candidates to the Board of Directors for two years, have to have an impact on Solomon. I can see him rationalizing to be silent until the judge orders what next to communicate to shareholders even if I want more information sooner.
I think you might have a helpful view on this, as, in the past, NewJerichoMan has posted data on the bid/ask and market makers in SIAF. I am wondering if anyone can explain why we saw trading volume of single or double digits of numbers of shares being traded? I am also wondering about what I think may have been from others claiming some trades, especially late in day of a small number of shares at the higher price was "painting the tape." Did someone transact a nine shares price at the ask just to make those looking at the posted closing price think the price is really there?
The news out of China is that there are no lingering fears of CoVID, no risk of repeat restricted travel or business lockdown. If true, auditor travel should be back on the table. Also, forecasts of food price hikes as well as outright shortages of some normally common food.
Did anyone figure out and can someone post when the annual shareholder meeting notice is expected? Anyone?