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Additional shares will be issued to Garrett, it means that Solomon violates his contract with FD. Not sure how this thing is going to play out.
One could even dream that Garrett, FD and Incentive orchestrated a counter attack in which each of them bought millions of dumped shares, then lend money to pay off the collateral loans and watch the pps skyrocketing.
In the dream, FD is the next one to file his Form 3. Let's keep an eye half open on that:)
The company and the lenders which sold collateral shares are still in a tug of war. No ones know which side will win at this point. It is a bit naive to think that the lenders are not aware of the possible loans or Garrett's holdings. I think they bet the company is going to fail in the end.
I wonder what will the market do tomorrow? who wants to buy more?
The shares he bought on Dec. 20th, 21st and 28th were from the open market, that was said in the filing.
Garrett bought on Dec. 20th (157k) , Dec. 21st (100k) and Dec. 28th. (180k). So besides him, someone else might also bought some big number of shares.
Handlamera, I like your optimism, but I wonder what your optimism is based on given the huge loss you currently have and the uncertainty about almost everything.
Maybe this time FD could be a board member, that was something they said two and half years ago.
Solomon should ask both FD and Garrett to serve as board members. That is something he should do if the two professional investors are willing to serve.
So the loan to be replaced or retired is from FD? That probably won't be helpful since the US lenders with collateral shares can still do whatever they want.
Last time, they raised A/S to 50 million, so Solomon may has enough to cover his ass.
Without such a deal, how many more shares Solomon needs to issue?
They never told us. I emailed Peter and Solomon numerous times, they never answered my question.
So no plan to retire the current two (or four) toxic collateral-share loans?
Yes, It's him. You can check all his postings here.
http://investorshub.advfn.com/boards/Profile.aspx?user=171872
IN particular:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=134780327
and
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113016458
BTW, when this kind of death sprial occurred to AEZS, they updated the market every time shares were issued. I asked Peter yesterday to do the same thing over phone, he told me no company would do that.
they certaily do not give any damn care about shareholders.
they need to let everyone know the exact terms of the loans so that everyone can compute how shares will be issued.
The entire thing looks more and more like a plot, orchested together by all the big guys, including Dan, maybe even Solomon to rob all the other regular shareholders.
Emptyone, you should talk to Dan over phone and urge him to do something immediately. otherwise, it will be another AEZS, which was compltely destroyed by something similar, they did a 100 to 1 reversr split, and pps is around 2 now.
Dual listing on two shady martkets was one of the worst decisions for the company. I wonder who proposed such a dump idea.
You would think that if they have any kind of decency, they would have come out and said something regarding the current situation, but they did not.
That was part of the reason I always suspect FD was behind this. After ECAB deal, ECAB has right of first refusal for 30 days. He did not realize it was a trap for the company? Seems hard to believe.
In addition, he demanded some 16 million back last year, which worsened the financial situation for the company.
phoenike, was the email from Dan or Solomon?
Did you come across on what the maximum number of collateral shares need or could be issued? There should be a cap on the number. Otherwise, it will be another AEZS two years ago. They eventually did a 100 to 1 reverse split and the CFO was fired.
TS, did you ask Solomon how many collateral shares have been issued so far?
TS, do you know how many more collateral shares they need and intend to print? What if this pig goes to $0.01?
Did you ask Solomon regarding this?
TS, thanks for sharing this. What a surprise, he also saw that way. He knew this long long time ago, and he did not give a damn care about the shareholders. He lied day in and day out about loans, dividend shares, collateral shares and daily operations. He is still lying about that they will get collateral shares back in the end. NO they won't. He was on an emergency trip to Europe, since the selling of the collateral shares, SIAF has breached the contract with ECAB. After the new year, I think a revised deal with FD is coming, the conversion rate will be greatly reduced from $9.9 to something like $2 to $3. Then the SIAF share holders may get the dividend shares.
That is the happiest ending I feel for the ordinary shareholders.
The alternatives could be a lot worse.
He could write that way is because that he sold already. Anyone who are still in cannot behave rationally, that is what Solomon did to all of the shareholders.
BTW, which IR replied your email? Peter stopped replying my emails several months ago.
When Dan commented that the share price has bottomed, I thought he made a deal with some big buyers or a deal with the lenders. It turned out that was certainly not the case, which really reflects how clueless he was.
I think Dan was the one who hooked up SIAF with the two US lenders.
I wonder what is going to happen at the end of Q1 2018, when one of the loans is due. They are not going to have enough cash to pay back the loan.
TS, did you try to get touch with Solomon lately?
Handlamera, so this time you are scared as well. SO I guess you did not buy shares today. Then who bought all the shares today?
Are you daydreaming? I do not see those coming.
Most of the tradings were probably from someone's left hand to right hand. Otherwise, I cannot imagine who bought all the 700k shares.
How long does a company to publish a memo promised three weeks ago?
Maybe they changed their plan again.
You may be sarcastic but Dan did say 12% in the cc. I was surprised to hear that.
About the US corporate tax cut, Dan and many here said it will be 12% after the tax reform. I thought it is 21%, why did you guys say it is 12%?
Regarding the convertible loan with RCAB, when large amount of money was paid back last year, this board guessed that Solomon breached the terms and FD demanded the money back.
Today we were told that Solomon did not even pay the interest for the loan. My guess is that Solomon was not on time for the interest payment of the ECAB loan. He may very well have been late for the two US loans as well. So the US lenders can legally sell the collateral shares.
Could you please elaborate on that? We all knew something was going on between them last year but no one knew the details.