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If we have no VIE, why does the company claim so?
From last 10-Q (F-37 & F-38):
siaf ihubber 2017
We are, in this community, finding comfort in our common conserns hopes, questions etc.
I wish to hear who YOU want to propose as the SIAF ihubber of 2017.
My vote goes to a person who, I believe, has shown integrity, analytic skills and acted as a superb source for Quality discussions and answers. Still, not holding more than a modest 15-16.000 shares personally, finds time to be very helpful and deliveres top standard.
RD, I appreciate your commitment and support to your fellow shareholders. You have my vote.
Its close to impossible. We don't own it, just book it (45%,VIE). CA is parked, swampy fish pond, closed abbotoir, reduced trade. Nothing to invest in now.
No, cash should accumulate now. And that is also our plan B if loan fails. I expect them not to suddenly depending on getting it. They told us before they can manage without it.
Last time I used a jo-jo, it went down AND up. Here we seem to lack the latter :)
I would say capex in 2017 is unchanged from 2016, corrected for COSO. As it hits in more and more after a natural delay, we should already see effects in both SIAF and TRW. Also TRW reporting $30 mill profits, there is cash available.
We could reduce biomass and harvest, reduce inventory etc. Why did the CEO change his contract into fixed $365.000 value in shares , so he gets more and more shares now. Must be a pshycic forseeing this and still not interrested in money. And feels our pain.
The big loan is in the hands of banks now. Lets use our time and focus on shareholder value now. After all, its Christmas.
Capex $21,5 mill this year, and $14,6 of this is purchase of property and equipment. So a capex close to our market cap is capex on hold?? Just a fraction of capex reduction could have saved us now!
And what is purchase of property in a country where its not possible, lol
If non of the working cash in the $800 company is available or TRW can spend some of its running profits to pay debt to SIAF, then the CEO can lend the company money.
Because the company is allowed to buy shares.
Well, according to the SIAF homepage, he is an investor contact. Not answering media and investor seems weak. Why not rice up and defend this undervalued and misunderstood company?
Thought we were all on the same team here?!
Did they say if more collateral is being released these days?
The outstanding share count has not moved. TS has contacted Broadridge but not received any answer.
We have a $800 balance, and get ditched by share trade worth $1-2 mill this week. Its 0,25% of our worth. Should we not expect any shareholder friendly action soon? We own 45% of SJAP. How about the other owners buying 10-15% from us before the lenders own this company?
The interest free loan with no fixed due date.
Thanks. Poor Nisse there, soon 80 and lost his solid rep thanks to Solomon. Nisse will never become member of honour in the golf club he dragged into SIAF. Not this year at least.
Its not strange, all trades in Norway are anonymous now. Just check for yourself.
Its FIFO, First in first out. No requirement that its traded over several days. That requirement is only when Norwegians travel to Sweden to buy beer - then we are forced to stay there for 24 hours to avoid import tax :)
And people think he doesnt care about money.
He has also received $1,2 mill this year of dowmpayment of a loan he has given?! It was not due. Hope they didnt default an external loan because of this.
At least tax return around $1-3 a share is the best dividend to expect short term. I have already swapped all my shares
No, I would consider that to be asking for inside.
I increased my holdings with 30% on Merkur today. Not sure if we are at the end or beginning of this company, but with Tony on board I feel I can gamble some more.
Still, don't take that as advice.
Do you believe that there is no business at all, business at a smaller scale or only disregard SJAP? I wonder about your view on TRW, the production there and the possibility of developing that company into a major business?
Thanks RD; so I understand you value the COSO as fair (even though, in my opinion, we might see representatives from our Mgt having holdings in TRW through private companies).
Also, I wonder if it's typical for a COSO to create a holding company for shares planned to be sold in pre-IPO or IPO. Because in addition to SIAFs 36,6%, we know that Sino Agro Food (HK) Limited holds 32%.
I would think that if/when these 32% are sold, the earnings go to the owners of this SIAF HK?? I don't know who owns it, but I guess it's SIAF due to the name of the company.
Usually, I would expect a pre-IPO/IPO to be done by capital increase in TRW and increase in O/S, so that the new shares give capital injection into TRW.
Just find it questionable how it's done.
According to filings, the ceo owns a "very high number" of shares IMO.
2,459,697 or 9,6% of outstanding shares.
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12213521
RD, I would like to bother you with a TRW question. I know you have answered it before, but can not find the post.
How do you regard the SIAF share of TRW (24% first and later 36,6%)? When looking at what SIAF owned (75% of FF1-3?) and the megafarm - do you think it seems fair?
Remember that I am still claiming that the ownership structure in TRW is questionable, and seems to have relations to our Mng team. In this regard, I am looking for valuation around the COSO.
What other parts came into TRW (which we used to own 100%) and how much did we use to own of those other parts/companies?
And what happended to those cows now? The abottoir is closed down. We still own and slaughter 4-5.000 animals a year (?). How do we do that now? Are we renting capasity? Are we getting info about requirements to re-open the abottoir? If we are reducing our activity in SJAP, should we not see all that cash locked up in cows, be available soon?
There is a lot of talk about the loan progress and nearly no talk about how to free cash from the balance sheet.
How can you actually run SIAF with cash equilent around 0,5-1% of yearly revenue? Book smart people: is it possible?
He is for real. He is not an avatar.
I have not been able to verify his CV in any way as prev posted.
I have posted his linkedin previously, and his info is next to nothing and very few connections
I have also found his Facebook page
I have found his address or the address of his company.
No picures or personal info to be found. Very low key. I have though, found some relatives in Ohio and believe that he exists. But after working around 10 years in the company and last years as CFO, it would be comforting to see a pic (like of some of the others) and stuff to confirm who he is.
Also, in general, the web pages are an important source of info and I just believe that the photos and some info is totally outdated. Why not show harvesting of seafood (8.999 tons in Q1-Q3 2016, was it)? That's more then a truckload daily. How do they do this, internal transports, live/chilled, further distribution, product pictures, brands? And fertilizer production and beef feed are high revenue areas suggesting serial production with a lot of people involved. No pics support the level of activity found in their books.
They need to wake up and show (prove to) the world their activity. Not everyone can travel to China. After owning SIAF shares, most can hardly take the bus to the nearest shop, lol.
Yupp, think it was one in 2014. He had promised cash dividens but it took months without anything happening. I always understood that this specific CC might have been the reason for todays B.S. CC's :) :)
Also remember that the CEO was knocked for not pulling through on promises to uplist and also getting big 4 auditor. Instead they chose auditors that later lost their license.
When you listen to those, you understand the longtimers. Its just like history is repeating itself.
And the CEO with no interest for money? Ha! Just enough to toggle his payment terms in 2016?!
Makes sense why Dan comforted us about PPS stabilizing now. Cause he would not know about further collateral being issued, would he?
Shame he supposedly gave all his money to charity. Nothing to sue for then, is there?
Remember when you said you were just like me, RD? After I said I avoided contact as I would loose objectivity? Our friends are not stupid, but have probably met a profet. Some people believe so strong their own ideas that they magically convince others. Carisma. It has killed my cash before.
Ha ha, I tried the reverse and failed. Sold 10 bitcoin at $2.500 TO BUY SIAF! Have never hit anything and luckaly avoided the 10X, and chose 70% down. Gotta laugh.
But was that enough to get credibility and trust. I checked and understood it was $0.01 paid three times. And I listened to an old CC about it. Lot of commotion, an investor called the CEO a crook.
And do we trust a PR about dividends anymore??! Think we need to see it on our account first.
I also noticed and reacted how every dollar was read. And then you think about the inventory, the fertilizer, the pics of people fetching prawns. Are they trying to get credibility by being so precise in the CC? Some years ago we paid hei $8 mill for license to make aromatic cattle? So many patens and technology. But The China I know, copies and steals technology like noone else. Its so neat and goody goody.
LOL, SIAF is both a bad run company OR a bad scam. I just dont know which :)
But this board has to carrying some blame. I dont know where we are now, but have seen that its easier to post positive than negative.
I have many times raised focus on questionable owners in TRW. We all know why. Because Chinees owners gives credibility, they don't fool their own and also pay off local loans (they travel to the US and Scandinavia) . Except The Business Advocat (in Belize with no know relation to Dan's company in Ohio with same name) and one more, they all share same secretary in Hong Kong.
Another find was the CA deal $150 mill with what became the megafarm. The partner was established 4 months earlier. Very unusual to not communicate around customer risk and make public aware. PPS boost before dumping?
Also get knocked when I question the CV of Dan. Yes, several Dan's could have worked there, and they differ in spelling. But why does not our Dan show up? And why is an admission document not supposed to be vital and correct?
I still have a lot of shares but keep an open mind for being screwed.
Good. I asked some time ago on the board about no updates, but was told that it stopped when there was no change.
As we are discussing collateral and at worst fear that the business is printing shares (and its last act is coso, AGM and mega loan), it could reduce speculation to get some answers.
Are they always unlucky, out of cash, $800 balance soon to be valued by coso, out of cash by financing half China, pre IPO, F1?
Or are they selling shares and cashing max before final collateral? At least that would explain why we don't see any shareholder friendly action. Like posting memo about findings from investigation around possible sales of collateral shares, CC Q3.
I feel stupid to trust anonymous Dan, and nice ceo with no interest for money. And would anybody be THIS bad at running? It's easier explained by believing its fraud. I have worked hard for my money and have trusted them. Hope they don't let us down more.
Yes, they are probably working on that memo about findings from investigation around possible sales of collateral shares. Am I the only one here actually expecting this memo?
Let's at least expect the AGM! Easy to run a new one if needed. Now we risk being thrown out of Merkur I think. KS, what penalty can be expected?
As we are getting close to 2018, would it not be possible for the company to now proceed with the F1/TRW share distribution? Or is this for some reason connected with a loan for TRW?
They would just set the ex-date in 2018, and by this avoid the (sudden) issue with tax burden, or? This will also give us access to AGM in TRW, and options to get it's BOD in place.
I believed the OTC link was regarded as a fact and based my views on this.
After having several questions regarding the value of the link, I have done further research.
The company has stated the same as the OTC link, in their official admission document to the Merkur Market, published on sec.gov: https://www.sec.gov/Archives/edgar/data/1488419/000114420416075289/v428839_ex99-2.htm
Again, I will back down on this if I'm wrong. Actually I hope someone can find the evidence against my claims because if the CEO steppes down, it would be a bad combination to have the CEO being questioned at the same time, if he is the one responsible for this possible fault.
You are welcome to prove me wrong. I have not succeeded to verify the committed work, still the search function seems to work perfectly fine for other previous members.
Try for yourself : https://ustr.gov/about-us/advisory-committees/agricultural-policy-advisory-committee-apac
If I am right, is it important? I believe so, because they have repeatedly communicate this in their filings.
If you follow my trail, you will see that verifying Solomons background is impossible IMO. Who is he, where did he come from, previous collegues, archievements etc. I have never before experienced that a CEO of such a valuable company as this is supposed to be, has no past track record. Its at least a risk factor IMO.
Yes, I am an amateur. Not a pro investor. Just a workingclass hero with my own honesty make me invest in "holistic", flower power people who has a strong vision. And that also care to focus on their personal gains on their mission. Its not all about immortal flowers.
My profession is aquaculture, and when I found a company with equity at 30% of Marine Harvest, the sheer size of the company would normally be a form of security. But after loosing 70-80% you start to wonder. Right? And when I increased heavily in August, no DD in the world would tell me that the announced TRW dividends would not happen after all. Only massive share dumpage. And no DD would tell me that a $800 company with pre announced AGM agenda, would not hold the required AGM at all.
So congrats to you for seeing it all come. And "hearing" about the loan announcement all the time.
My point is that Im failing to find evidence supporting the CV. I am still doing DD due to lack of trust in them. From the last CC, I am pretty sure they lied regarding collateral and sales of those shares.
I believe TWO auditors got banned in a row, after specifically failing to do real audits. Thats the balance we are counting on. Account receivable always growing, fertilizer at $20 mill. I still have shares, because Im uncertain, but I am struggeling with trusting this.
They never gave us info on collateral. And you are saying they have fewer shares then before? Lack of filings?
Why is Yap still on the homepage?
Why no pics of Dan and Peter?
Why no answer to my mail?
Why no AGM, and by this refusing to meet the OWNERS of this company?
Why no big4 the CEO has talked about for years?
No uplisting?
No TRW pre IPO?
No TRW dividends?
Inactive co owners in TRW?
No CA activities?
Swede, don't put your fortune on this one.
I listened to an old CC with Fredrik Dahl. Got a really good impression. Now he is out as I understand. Do we know why?