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KS, I didnt mention law suit. I use lawyers regulary as secretaries. The local guys know whats moving around. Takes years for outsiders to get the game.
Try RD's satelite link and look at the MF. Zoom out and look down, left. And repeat. The area is FULL of prawns. But MF is like a empty buildingdite site. The locals should know what is happening. No M&A's etc. Why?
I don't have the answer but the locals should know. Why own 1% of this and not spend $10.000 on local DD?
And KS, you are good hearted and believe in people. I am the same. Still I reduced after heavy losses, and please watch your back. If BS in, you get BS out. Stastistical analysis.
Well, Chad Sykes, Invisible Peter, KCSA, attorney, sec, Ohio's big transparent guy, nisse, etc are all part of the show in that case. But I regret to say I agree anyway. No inside activity at $0.6 "just" before the loan. Or maybe hidden selling.
This is the only stock I own where I am close to hope it collapses. So the management either has to act or stop scamming the market or whatevers going on.
CEO is now yearly getting 10X the number of shares that RD and his people have spent their hard earned money to get. Makes me vommit.
Not my area, but think the CEO would be difficult. Dan is something else.
But what I really question, is why so many large players on this board don't fly over or contact local lawyers. I'm sure this mega delay is well known locally.
In a COSO, we would expect New management and a CFO. It's all still just a shabby web page. Very strange at least. Like they are still wondering, shocked, that we - the audience - are still watching this Muppet show.
Started at NOK 75-80. Now its NOK 5.50-5.80. Family is not very impressed now. Good Solly has a restaurant chain. Frozen pizza most days for us.
For others like me who missed the 2017 AGM, let us share the agenda as preliminary mom:
Has the Chinese New year started? Hoped we would have good or bad loan news by now. My original max was 15 February, based on the CC where only formality was left.
Well, now I guess to soon been financially connected to every prostitute in Guangdong. Happy New year solly. Your fake PR's ruined my year, by the way. Good job we're so far away.
Handl, the Company is reporting $30 book value a share. No write downs. No loss or write off from receivables.
So when the company is telling the world by audited reports what the book value is, then this value must apply to the CEO while calculating his compensation. If not, the book value must be fake.
Did someone say the share was halted on otc Friday? If true, why?
Siaf HK holds shares in TRW. Was the plan that they were held for pre IPO? Where will the money for these shares go - who owns them? I have never understood this plan. If they were owned by TRW then our part is over 36.6%
Well, I think you should look for another public company where the CEO sets up his own compensation plan AND while doing so, sets up a scheme where he bets AGAINST an increasing PPS.
What the f is this board doing, putting the CEO in the compensation "committe".
Don't waist another post defending corrupt practises.
He has kept his $365.000 salary and added $365.000 in share value as a bonus for his good performance.
So while Solomon never thought "collateral" would be sold and collaps the PPS, he still fixed the $ value in his compensation plan. At todays PPS, he will receive around 0.5 mill shares. Well done Solomon. You both deserve it and need it, so we are happy that you also on this deal dillute and reduce value of our shares. Daylight robbery from our savior SOLOMON
I agree snow. I have seen some post around this, and in the Nordics at least, management trust is important because the banks don't do too much due dilligence. Yes they look at previously performance, study segment trends, customer structures, technological distruptions etc.
End of they day, from my expericence, it's about:
1. equity (company or in the investing object)
2. security/collateral
3. cash flow
4. management & operations
The last one also has the point of continguency. But I thing in the Nordics they are more "tecnical" into the smaller finances - just calculating and looking at the spreadsheet. $100 mill is NOT in this category.
Continguency in siaf: With Nisse (78), solomon (75), "cfo"-Dan (living on the other side of the planet), at least - the team I know about here, is not substancial regarding continguency. A lot much depending on the ceo and his personal connections.
In Asia I get the impression that personal relations and trust are more important then hard figures. In Nordics I think siaf would not get a loan due to management and due to the high biological challenges ahead - TRW as the first high-density player. Aquaculture is much more developed in Europe and diseases challenged with high-end methology, rather than just changing species or dumping antibiotics and chemicals into the food systems which I find to be not sustainable and unacceptable.
You really know your way around in this company, RD. Thanks.
One thing is a heater, but a RAS system contains biofilters, co2 aireators, N2 strippers and O2 injection. So right now I believe it's not a APRAS or RAS. On pics of the megafarm, I don't see these systems. Are they planned for building #3?
I agree. They announced it without wording it. And while we wait, millions of shares are sold and the PPS down 50% from the "bottom". They forgot to tell us about dillution during CC.
I am starting to understand why this China company does not bother to present the company in Chinese. And I am still very worried around TRW spin off and ownership. Who really believes we will trade TRW on Hong Kong next year? I used to.
Bertil is leading Lanekassen - a 100% state owned bank for financing students. On his LinkedIn, there is no trace of SIAF. Maybe he just forgot he had been working there.
Water canals rather than pipes?
I would'put so much into this. Lets say the heater project is $100.000-200.000. And it's a TRW project.
Regarding SIAF, you would rather question $25-30 mill capex in 2017.
The heater was probably ordered after Undercurrent article. Thats why it was too late for this season. I think you should look at this as a little peace of info, like everybody has been screaming for.
Now its time to get info around tackling those loans to be paid. Market is betting on default IMO.
Yes, both on homepage and Facebook. Thanks
In 2017 the PR about TRW dividends, loan to Jiangman, megaloan, AGM "mistaken" PR, D&B report, F1, Hong Kong, were all good news popping up while millions of shares hit the market.
Only a coincidence? For sure, it fitted nicely into collateral dumping. Seems like they never turned the printer off. Only called it something else than dillution. Collateral was the New Word.
O/S increased yesterday again. 31.209.153 now. Maybe they are trying to increase PPS by adding volume, lol. Just like their theory in the "memo". Down 13% on massive 314.000 yesterday did not support their explanation.
Restricted O/S is down. What are those shares?
I'm unpacking the suits for the $100 party. Maybe we should throw a 100 cent party instead. At least it's in reach.
Don't know who is buying or why. And the same for whos selling. But I don't believe millions of "collateral" will be bought back.
Even Tony don't tell his audience the numbers they give the investors. 2.500mt seafood. Not 12.000mt. We let it pass by. http://www.sinoagrofood.com/sites/default/files/Ostrowski_Abstract_WCAF-2017.pdf
They lied when filing DEF14C in August, IMO. The filing did not even contain the word COLLATERAL. On the contrary, it seemed that they would not even utilize the new roof from the filing.
Today it seems to fit into the communication from 2013-2014 about COSO and dividends. They also newer put our shares in a nominee as promised. The TRW shares could now be lost if they default. They never intended to give us the shares as PRd a year ago IMO. Just wanted to keep the share-milkingcow running.
I sold shares today. Hope it goes down more, so we are not taken advantage of anymore. Are we expecting the CEO to feel our pain? He STOLE from us by awarding himself more shares. Lets see that loan process being documented.
Very disappointed now. ATL and no inside buying.
Down 9,1% in Oslo today. You would think it couldn't go down 5-10% day by day after loosing 91%, but I guess it's still 100% down from here.
Can't believe they are getting close to default a loan, after burning $27-30 mill on capex in 2017. Where are those good old days when asian leaders jumped out the window after fucking up everybody's life savings? Oh - of course, only people with ability to feel guilt would do that.
Have a nice weekend solomon. Print yourself some shares and enjoy watching the sinking Titanic-share.
Any reason to expect a Financial Calendar? I respect they are loaded down with work these days (sitting still for 10 months waiting for a loan), but for me the 2017-calendar doesn't work so well.
Empty, I still guessed 1-15 Feb when the CC was out. So I am tired of waiting, but still think there is hope. At least they have not just done a fake PR about the loan. I will personally hold on some more, but in your shoes consider engaging a meeting or investigation by local lawyer. Low cost consider your investment. RD would help out as consultant
Welcome back Tonini, my (Italian?) friend!
Why so late? I think it might be strange to post a memo on stock collaps theory, while the stock printing machine is catching fire in the background.
Anyway, I checked the Facebook and no memo to be found...!?
Now now, RD. Don't forget it's on the AGM agenda to do share buyback. Just need to issue 10 million more first, because the analysis shows that higher volumes attrack higher prices...
Personally I actually appreciated this "memo". I think the memo it self gives me some hope:
1. They (kind of) fixed the broken promise (we have been waiting for it after the cc)
2. They actually had done the work going through this and it's laid out professionally (though I completely disagree with the conclution)
3. It presented an insight in the loan structure
4. It resoned (once again) why we should expect them to be delivered back, and gives me the impression that the author at least is confident about this. Some posters here give me an impression that more resources are put into wrecking the share, than the opposite. Buy-back of collateral might be the reason of course
My view is we are in the middle of a credibility crisis (a very strechy one). Our understanding of the company is mostly founded on their communications. The worst thing to do during a crisis, is to stop communication to your community. But not BS, but keep us updated. I.e, what happened to siaf sweden? Harvests in TRW. Customer feedback, contracts, new management supplementaries etc
Maybe they are trying to increase trade by increasing O/S?! Up 1 mill shares today. New O/S is 30,996,875.
Congrats everybody. We are now in a 31 mill shares community
This looks like the memo we have been expecting regarding the collateral. I have never seen it before, must have missed it.
Thanks anyway, interresting to read
How do you know about the other managers? My view is of course based on the little info we have about employees in this company. I certainly hope there are great people running the show.
The TRW site does not help us at all. Looks more like a SIAF scrapbook
4 USD? They might just have crawled into black, by writeup of TRW. No 4 USD profit in this company.
60 days now since they posted on SIAF Facebook. We're only in a valuation crisis. Why bother?
Come on Peter, give us a prawn pic at least.
Interesting interview with Tony. I just read through it again and I still claim he is a big asset for the company. It's from 2016, but I would share it in case somebody missed it. I think it covers several good subjects.
shrimnews
The first page is "Massacre on Merkur", pointing out a 55% avg loss. Pic of Yap and text stating SIAF is down 91%
In the article their focus is that several companies have been a catastrophe for the shareholders. They state SIAF was one of the first companies on Merkur and 91% of it's value has disappeared. This in contrast with what Alexander Hansson stated to Finansavisen that the share was unbelievable underpriced"
I downloaded tomorrows newspaper, yes. Voila.