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Even if you ignore that a couple of auditors and CFO’s resigned, there are corrupt auditors and accountants too.
As I mentioned before you can take a brief look at what happened with ANW.
I was just guessing.Do you know anything more?
Are there still people who insist that we should say nothing bad about Mr. Daniel Ritchey cause he is now dead?
Some cancer treatments cost huge amounts of money and you cannot afford to lose your high paying job in order to get them and have some hope.
Hope SIAF does not end up like ANW.The CEO had on the board of directors just friends.The small investors managed in the end to appoint one of them to the board.And a $200M hole in the Balance Sheet was discovered.ANW CEO now Wanted by US Authorities.
On Sep 26 they announced an MOU with a mid-west cabinet manufacturer.
Today they tweeted and published on Facebook that Woodland Cabinetry is here!!!
They are a South Dakota manufacturer family owned.Could be great development if it is the company they acquired.
But again Ron needs to spend more time keeping shareholders updated on how the already announced plans are going.
They give an explanation that the stock was for stock purchase and perhaps the $0.001 was symbolic.
But what did they acquire back in May.Is it an acquisition in the Environmental department that went wrong or has not yet been concluded?
When they issue 70M shares for just $0.001, we have been wondering for half a year why is anybody selling this stock for $0.005!
How can you issue stock at a twentieth of what the buyer paid just 3 months earlier?
Hope we get some satisfactory answers soon.
This 70,000,000 shares issued on May 9 2018, for just $70,061 !!!! needs some explaining.WHY for just $0.001 did they issue so many shares?
And in the last report they told us that by June there were just 276,825,419 shares.Now they are telling us that there were actually 20M more at the time.
Not very good quarter in terms of profitability, but the Balance Sheet looks much better compared to May.
Current Assets up by 280,000 and unless there is a mistake somewhere Property&Equipment down by 400,000.Perhaps they sold something?
Solomon I guess thought about this very carefully a long time ago, how to make it look for as long as possible to ordinary shareholders that there was no fraud anywhere.
Now with $234M in Current Assets he is blaming the Typhoon that caused $1M damages for his cash flow problems!When did they fix the damage, when were they billed and when did they pay?In cash?
I know but it is something they have been promising they would consider and even issued a PR last year saying they would do.
And I am also talking about management buying shares personally.
Snow, I think you don't realise how unbelievably cheap the stock has become compared to the assets they claim they have and what would imply if it gets even cheaper and we still see no interest from them for buying it.
They missed the deadline by a few days and even weeks in the past.
Since they have not updated us on any developments new or promised ones, for many weeks now, hopefully the 10-K will be accompanied by a PR.
It could go to 5c and still have Solomon saying the same excuses he used today as not to buyback any shares(as if at 19c the stock is not already cheap enough to justify such action!)
Whoever was absorbing all that dilution at relatively high prices giving Solomon the chance to reach 50M O/S, believing the dividend story, must be feeling like a complete idiot today and p**sed off.
A PR as if the company does not have hundreds of millions in receivables.
As if they do not exist.
Did you expect anything else after they told you that we will learn more about the dividend during the CC?
They should have announced the reason for the latest increase in the O/S at Oslo by now.
True.We said many times in the past what was the point of a “CC” if the Q&A section was prepared?
They could or should have said something about it today I would think.
But let´s see.
No CC!As expected Solomon finding it difficult to manage without Dan.
In case Dan was doing most of the work for the filings, it increases slightly the possibility that because Solomon will find it increasingly difficult to do them, that he decides to retire.Dan’s death may also make him realize the vanity of it all.
Hopefully he will pay the dividend respecting Dan’s promises and perhaps also start a buyback program fulfilling his wish over the last couple of years for one.
Empty, it was a huge position in the past.Not anymore.
Remember at one of the CC when he said he had pneumonia.He was probably fighting since then.
Not common to reach the pneumonia ‘stage’ these days when you are in your 50’s.
Bad feeling looking back writing about him while he was in his deathbed.But like many things about this company, nobody here heard or knew anything about it.
Updated O/S 311,790,182Hopeless situation.
With accelerating amount of shares issued because of Notes conversion, 0.0001 is almost inevitable unless something dramatic happens in terms of cash for buying back those notes.
No news I think however exciting can change that.Don’t forget nobody can believe anything he says any longer, after withdrawing the dividend.
He only scams shareholders.His employees and people he is doing business with are fine.
He is the one facing bad debt and a mountain of receivables.
I can hear from now Dan saying, we were thinking about 5c dividend.In the end it will be 1c - But that’s a good start.
Like when he said we were thinking about both dividends and buybacks.It will be just dividends -But that’s a good start(going on to dilute by close to 100% with the 5c dividend now in major doubt).
So someone has some valuable information from IR or from some other reliable or not source, he stops sharing?
Then what reasons remain exactly for visiting this board?
When I wrote he resigned it was obviously speculation.
I don’t know what you mean by ‘he got the same reply’.
You really took that as a fact?I guess you are too new to this board, not to understand that it was just speculation.
And anyway I sent Peter an email five days ago asking about that and never got a reply.
We have an IR department that chooses who to reply to!
They are talking about paying $1.38/PLFX share over at the BTOP CC!
KSY resigned from IGSC.Let’s see if he shows more interest here.
So then acquire not “fold in” for free without paying or issuing shares for them.
In PHIL case with about $1M you can buy the whole O/S.Here with $1M you can buy just 2% ownership.
Not very relevant.What I guess we have at the moment is a company valued at over $50M with under $1M in revenues.
So you probably know the profit margins and growth rates of the company bought for 16M shares.
If so can you please share that information with the rest of us?
This stock might be a great opportunity at some stage but I’m not sure if it is right now.
They issued 16M shares for a company with under a million in revenues.Of course they may have amazing margins and growing fast, but they did not tell us.
To keep control you only need voting rights to preferred shares not conversion rights x10.
That scares investors away especially if too many.
So, who owns the 50M Preferred Shares now?