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Mismatch of the figures in 10K page 21 and 22: 600MT for RMB7.2 millon, yet the projection is 1500 MT for RMB 225 million.
IN 10K: we have the following two:
In Yangjiang, "This farm started operation in Q2 2017 and by the end of Q4 2017, it produced over a 9 month-period a total of 600 MT of small to large sized MWP generating sales revenue of RMB7.2 million (or $1.152 million) representing an average yield of 6 MT / Mu / 9 months / 3 harvests (annually yielding 8 MT / Mu) on 100 Mu of net-effective grow-out areas."
Then it also says:
In AF1, projection: "1500 MT of the MWP / year 1 of operation, generating annual sales revenue of up to RMB225 million (or $36 million). "
Any idea?
Have they paid the farmers $17.6 million in Q4 already?
SJAP cancelled and terminated its fattening contracts with the cooperative farmers at year end of December 2017 and to compensate the corporative farmers calculated to RMB5,000 / head of cattle based on 22,000 heads that were contracted since the beginning of 2017 to 31.12.2018 amounting to RMB110 million (or $17.6 million) in total compensation.
Uh-oh:
During 2017, the Aqua-farm (4) (AF4) at the Mega Farm Project tried to grow multiple
batches of Fresh Water Prawns (BJP) in commercial quantity (i.e. stocked over 1 million
fingerling (of PL24 days) per APM tank of 200m3 of water to nurture the fingerling up to 54
days old supported with 4 other APM tanks for further grow-out up to 18 weeks old) but did
not obtain optimal results mainly due to the BJP having not reached their desired size on
schedule, with the majority of them not showing any further growth occurring after week 12.
As such, AF 4 had to alter its plan of growing mainly BJP to growing fish (i.e. Jade Perch,
Silver cods and other mixed fish) within some of the APM tanks in order to maintain a certain
level of productivity at the farm.
The volume in Merkur is pretty heavy today. 216,849 shares. down a little bit.
It is very sad for all the longs. Solomon may also feel victimized. It is possible that he is revenging all the western investors. He may feel he was trapped and robbed by the ECAB deal, loan 1 & 2, and all these non–appreciation from market and all the retailor investors.
I thought Dan could be helpful, but apparently not.
I hope Garrett can become our hero. Someone needs to do something to end this pain.
He asked Solomon to climb up to the roof using their ladder, and then pulled the ladder away while Solomon was still on the roof.
FB certainly made tons of money from SIAF. I heard that he bought tons of shares before ECAB deal in 2014.
For these 5.2 million shares, they did not even file anything to SEC about their holdings, probably it was him who told Solomon to keep it as a secret. I sent numerous emails to Peter, Solomon and Dan regarding the repaid $16 million dollars in 2016 and 2017, but never got any reply. Apparently, Peter was instructed not to say anything.
ECAB demanded 16 million dollars back in 2016. That was the root of all the problems afterwards.
It was them selling for the last two years or even more. They knew every detail of the company's finances.
I suspected that the idea of dual listing on Merkur also came from FD so that it would be a lot more easier for anyone to manipulate the pps.
Apparently, they did not. I have a hunch that Solomon is paying the monthly payment to ECAB by shares as well.
two t–trades, 180,746 shares.
I think tomorrow we will see an increase in OS. day after day, wk after wk, month after month, q after q, year after year...
Second that, could not be said better.
Could you please consider to convert partially to TRW shares with 35% discount directly?
I forgot they normally increased OS on Thursday, too bad I bought some today.
I got that, they lent $25 million, got back $16 million in 2016, got five milluon shares, plus$ 15.8 million new loan. a great deal for them for sure. Solomon is an idiot, and the money was spent on abbatoir, which is gone.
who are selling? Garrett did not sell, then who are selling? ECAB? Are they supposed to file to SEC?
Emptyone, I thought about buying more today. Somehow just felt the hands and fingers were too heavy to click the buy button. :)
Had Garrett not bought several million shares in the last two years, I cannot image what the pps would be.
It is a matter of trust now. Certainly, most small retail shareholders no longer trust the management very much. But if they trust Garrett, then they do not sell their shares. If short seller sells many shares short, and Garrett informs the market that he is only going to convert x number of shares (say 2-3 millions), then we may even see a short squeeze.
However, many shareholders may feel uncomfortable and choose to sell to save the last 5%-20% of their investment, they may choose to sell. The vicious cycle may kick off. A lot of uncertainty for sure.
Garrett, thank you very much for assuring us that. It means a lot to me personally.
I really hope that the company and you can kindly struck a new deal regarding the loan so that this kind of uncertainty can be eliminated. It is not because that I do not trust you. As you know, I am really worried about the shorts, and malicious hedge funds, they can exploit the situation, and the company may completely loss control.
Again, I would like to mention what happened to AEZS, they went through a 100 to 1 reverse split. The situation was not identical but similar. In the end, the massacre ended because they re-strucked the deal. The price dropped from 80 cents to 3 cents in a matter of days when shorts found out the conditions of the loans and warrants.
I also believe that, but the shorts can exploit this. I mentioned AEZS here, if you do not know the story, go google that. The situation is not identical, but similar.
I am grateful that you stepped up. I certainly hope that the pps can withstand a short attack or a malicious hedge fund manipulation, considering the possible conversion price and possibility.
quite on the contrary, he basically denied that $1.5 is the bottom conversion price as some has indicated here.
Just like what happened to the ECAB loan, I wrote several times last and this year to the company, but never got any reply. I sent an email to Peter yesterday, no reply. old same. if they are ever able to deliver the TRW shares, the OS of SIAF is probably more that several hundred million shares.
Did anyone get any responses from the company and/or Garrett regarding the confusion of the conversion price? This is depressing.
The company is hiding something, as always. it is not easy to get a clarification from this company.
Emptyone, could you get hold of Garrett to clarify the conversion price of his $4 million loan? if there is no bottom conversion price, the company is doomed for certain.
yes, they simply dumped QZH.
RD, they only had 600k dollars in their account at the end of Dec. 31st, 2017. They have no money for anything.
ok, it is a monthly installment. So perhaps ECAB is greedier than Garrett, if the conversion price is indeed bottomed at $1.50.
Maybe that was why Solomon went to Garrett.
They restructured the EACB note on July 18, 2017, then they paid back 4 million to ECAB and took a 4 million note from Garrette on October 20th, 2017 with no no floor conversino price (even if with $1.50 conversion price) , why did they do that?
On July 18, 2017, the Company and the note holder entered into a restructuring agreement regarding the settlement of the Note as follows:
(i) 50% in cash settlement of $15,589,000 to be paid in monthly installments.
(ii) The other 50% balance of $15,589,000 to be settled by the issuance of 5,196,333 common shares of the Company and 400,000 shares of Tri-way Industries Limited.
As of the date of this report, the Company has paid $4 million with $11,589,000 remaining owed on the $15,589,000 balance.
if you look at the way it is written, it says the conversion price is the lesser, so I still think thetee is no bottom price. we will sre.
no, he is going to convert his A shares to hunderds of millions of shares.
actually, more that 60%, it has not ended yet. it could go on for ever.
Emptyone, they did that due to the fact that TRW is not able to generate enough profits as an aquafarm.
Garrette can push this to pennies. SIAF needs more than a few hundred million shares. Last April, I wrote to Solomon, asked him to pay attention to something like AEZS, he did exactly what AEZS did. idiot.
more than that.
And Dan said $1.3 is the botyom on Dec. 8th, after the deal with Garrette on Oct. what a fucking liar!
Where did they say $1/share conversion?
Garrette can convert by the end of October at 65% of the market price.
I think they do. So basically, five million SIAF shares and 400000TRW shares were issued for five to six million dollars.