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After a continously decline in the PPS I have been able to stop the decline with my USD630 bid (25k shares @ 0,025). I must have magical powers! lol
Or construction
If you are able to forgive yourself then you might still have a good life, nef (yes, easy to say, not easy to do).
If you look at true happiness and compare it to wealth, then I don't think you will find a positive correlation there (at least not beyond the limit of financial security and independence). If you somehow is able to turn your experience into independence from the chase for money, then you might be able to look back at your experience as a blessing (forgive me if I am being disrespectful or something, I know it is easy to say these things and a whole different thing to follow them).
Do you think you would like teaching English? I saw an interview the other day, a person who "hadn't worked in 30 years". He was a musician and had only had fun the past 30 years (concerts, albums etc). That's escaping the rat-race!
Well, the central banks might very well try more quantative easing; dumping interest rates (way below zero this time???) and print even more money and buy assets, kicking the can even further... Either way, it will cause a lot of suffering
If you're "lucky" then the US might experience hyperinflation. It will be a hell, but your debt would be wiped out and you can start all over again - which so many other people will have to do in that scenario. Heck, in that scenario SIAF might turn out to be a good investment! lol
If you can afford to stack away some minor amount of money that you do not need for YEARS, then you could put a MINOR amount of whatever you can spare in safe havens as a hedge - just in case. Precious metals might take a hit initially though, so it's not a short-term thing even if we get another financial crisis, but if we do hit another financial crisis then you might be better of after the crisis (relative to other people than what you are now that is). MINOR amount though, do NOT go all in. It might not play out, and even if it does it might take years. After all;
Another problem is that Solomon isn't upfront with us with the deal SIAF has with TRW; is there some fine print that states that TRW will not repay SIAF until the pre-IPO? Are the partners furious about the failure at AF4 and are withholding cash until that is resolved? What is going on? Solomon will not tell us...
Q2;
$3,413,141 (91 – 120 days) and $5,775,840 (over 120 days & less than one-year) is AR that will be settled within trading terms of 360 days.
Q3;
The bulk of the over 120-days accounts receivable under CA’s consulting and service sector represents outstanding debt owed by Tri-way to the Company, which is expected to be settled within the foreseeable future.
Does this mean that TRW suddenly will pay SIAF earlier than the trading terms??? And what about TRWs profits - does Solomon have a say in how they should be used? (i.e a cash dividend to the owners, i.e 36.6% to SIAF, would do wonders)
From the little we know there should be no problem for Solomon to fix this, but there is so much we do not know so we can only speculate. Well, Solomon will learn that sometimes it is better to tell the truth - no matter how bad it is - than to hide it and let speculations run amok
Well, getting the equivalent amount of cash could be better, but I don't think that is an option. If there is a chance that SIAF were liquidated, then our hope would be to get our TRW-shares and hold on to them.
If that happens then Solomon would only hold a tiny fraction of the TRW-shares, so he would easily be overthrown unless all the current partners loves him (if so, then they do that because he hasn't diluted them yet - i.e if he tries to dilute TRW he might very well be overthrown)
Still 55 cents, but this time for professional services.
If they are talking about CA then these shares should have been paid for with Solomon's shares! The dilution cost for us shareholders is far higher than the income that they have generated. If we're talking about CA that is.
The same way that "it is impossible for a company to be profitable without a good cash-flow". The same way that 55ft3=55ftx55ftx55ft. The same way as *insert whatever you like*. I.e yanking it out from where the sun never shines...
Strange that none of the claims ever are backed with facts - huh?
That didn't really answer the question, did it? Filing insider trading the same day is quite common in Norway (I don't know if it is mandatory), and the trading happened the day after their PR, so they should not have any insider information.
With SIAF on the other hand we know there has been a lot of insider information which - at least the way I interpret the rules on Merkur (I've linked to the rules several times earlier) - prohibits insiders to trade (the information doesn't have to be good, it also bans buying shares before bad news hit the market). We know that they are restructuring with ECAB, but we know virtually no detail (i.e was the information that came out today the tip of the iceberg, or just noise).
If someone wants to ask why SIAF insiders don't buy, they should at least argue WHY they actually CAN without violating the rules on Merkur (I might very well be mistaken).
The problem is that we only know fractions of what is going on, and we know that Solomon will deliberately keep stuff hidden from us and fluff whatever he can.
We don't know if ECAB is rightfully fed up with Solomon, or if ECAB is hostile and has planned for SIAF to go into this trap. We don't know if Solomon is a crook, or if his intentions are honest and that he has gambled too much and mismanaged the company. We don't even know whether Garret is a saving angel, or if he is only out to look after his own interest on our expense.
They talk about preferred shares, but I don't know whether to expect good things or horrible things, but after 100% dilution at 2% of book it does not SOUND good.
Clearly, at latest in the Q3-report, he knew that they would have to cancel the dividend, but nothing happened until one month later. Typical Solomon - the same thing happened last year with the TRW-dividend then (although they didn't formally announce it back then, they just said it in the CC)
It seems to me that Solomon doesn't have 1MUSD; obviously they didn't have the cash to pay the dividend, and now it (at least) seems that they don't have the cash to adhere to the payment schedule for ECAB. They also owe Garret money (but that might be postponed, unless he to is fed-up), and then we have the bank-loans that need to be paid or renewed (maybe that's a no-brainer) and the collateral shares loan...
If he cancelled (not postponed) the cash dividend because of lack of cash-flow, then he surely does NOT have any money for buybacks
Text-book case of not being in "good faith", no?
8-K out; Notice of default from ECAB. Congratulations Solomon.
You can also rank the groups by financial success;
1) No financial losses
2) Heavy losses, but potentially reduced
3) Complete and utter devastating losses without reduction
There is no hope if you cancel a cash dividend policy after issuing it 6 months earlier to avoid collapse of PPS and lawsuits. SIAF is history. We should have taken action before the Q1-report
I struggle to see a case against TRW apart from the issue with withdrawing the distribution after the ex date had been announced on Merkur
Might be an option for people who had shares on Merkur at the ex date?
It will not matter - they new it would be hell to pay when they decided to cancel the cash dividend policy. It's time to look at what possibilities we have; can we force SIAF to sell of its assets, or is our only option a mass lawsuit? (the latter might cost SIAF more than the cash dividend they decided to skip)