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The problem is dumpage. And the fear of dumpage.
Must have helped a bit with the fin/mixed fish that they harvested around the Chinese new year (6 months cycle)
What is your take about ECAB selling, monthly payments should be around $500K, or 2 million for last Q when they had a loss.
2,7 Million dollars to 3rd parties was settled for 3,9M shares, which we probably have seen being sold now..
Perhaps they plan to make the 5.2M ECAB shares preferred stock. If SIAF pays dividends and TRW keeps performing then that may persuade ECAB to take the stock.
And it matters a great deal if we don't see the O/S go up by another 5.2M shares. The fear alone...
Over the past years, other advances had been provided by other unrelated third parties, contractors, services providers, and agents fees etc. to our subsidiaries with some in promissory notes or agreements at no fixed term of repayment and interest free; and with some are at interest rate calculated from 3% up to 8% for tenure 2 to 5 years; and some are by verbal arrangement. These sums amount to $13,616,967 unpaid and outstanding as of March 31, 2018 after the settlement of $3,941,211 by the issuance of 5,515,925 shares at an average of $0.72 / share during Q1 2018.
Shares issued during Q1 2018 through the one-month period ended April 30, 2018.
During Q1 2018 and through April 30, 2018 there were a total of 5,588,375 shares issued for a sum of $4,054,233 for the following payments: (i) 1,606,854 shares were issued to 6 professionals and consultants firms and / or individuals for services rendered in 2015, 2016 and 2017, the total amounting to $1,184,385 (cost average: $0.74 / share); (ii) 72,450 shares were issued to 8 staff members for services rendered in 2017, the total amounting to $113,022 (cost average: $1.56 / share), and (iii) 3,909,071 shares were issued to five unrelated third parties for repayment of debts incurred in past years from 2014 to 2017 recorded under Other Payables, Non-Current Liabilities, the total amounting to $2,756,826 (cost average: $0.71 / share). Typically, repayments to the Company’s unrelated third parties are compensated in cash, but due to tight cash-restraints throughout the past quarter, the Company had been required to meet its minimum debt obligation to these lenders in the form of share compensation. All shares issued during the period held a cost average greater than the market-price at the time of issuance.
During the three months ended March 31, 2018, the Company (i) issued 72,450 shares of common stock valued to employees and directors at fair value of $1.56 per share for $113,022 for employee compensation; (ii) issued 3.748,925 shares of common stock valued to professionals and contractors at fair value ranging from $ 0.55 to $1.00 per share for 2,969,361 for service compensation; and the shares issued by the Company were valued at the trading price of the stock on the date the shares were issued.
The Company calculated stock-based compensation of $3,785,008 and $3,982,813 and recognized $226,113 and $1,991,407 for the three months ended March 31, 2018 and 2017. As of March 31, 2018, the deferred compensation balance for staff, professional and contractors was $3,558,895 and the deferred compensation balances of $100,912, $375,600, and $3,082,383 were to be amortized over 3 months, 9 months and 1 year beginning on April 1, 2018, respectively.
The purpose of this should be that they are able to use them as collaterals, and so they don't have to raise A/S.
Happy? :)
There’s a lot of back-room dealing, it’s hard to know what’s going on within this company. As it looks like for now Solomon couldn’t care less about the shareholders/share price, but there might be other forces as well. It seems like there’s two options, Solomon just got played and are totally incapable of running a company or he’s a con-artist. With this valuation it’s written scam all over it, but I think it’s option 1. Solomon is the one who should take responsibility for this mess.
We’ll see where this is going, you must have a lot of shares to start out with to make this happen, and there’s not too many shareholders in this company who could pull that off.
If you’re thinking FD has only been good for this company you should reconsider.
I wouldn’t be surprised if they’re ends up with another 3-5M shares.
This has been known for quite some time, ECAB has been called corporate raider here before for a reason.
Solomon isn’t doing jack shit about it tho, he’s playing the company right in their hands.
I don't think you will get surprised this time either.
The lenders will take everything, there won't be anything left for retails when this thing is over.
Solomon have heard about double bottoms, that the share will go up after that.
https://invst.ly/7hvvd
We're not going to see 10 bucks again anytime soon, that's half a billion in market cap with all these shares outstanding.
Are you coming to our $1 buck party? It will be held in a "eat as much as you can for $12,5 bucks" near centralstationen in Stockholm.
No suits, no bankers.
Pleasant surprise with no new shares yesterday
has Garrett had enough?
Bingo!
We'll probably see it go below 20 cents next week. They better come up with something real soon, no promises or carrots will help them this time.
Could you share an email regarding what he actually said, I have just seen people here writing about it.
That's what I am talking about, no one knows what is going on... The word transparency doesn't mean anything unless you could sell more shares for Solomon. It's totally out of control.
It looks like TRW received money but Ostrowski hasn't seen any money coming in? Isn't that a bit weird?
I must agree to some degree, they're not showing any evidence of keeping this stock alive, or do anything to protect its shareholders.
IR is a joke, I have sent them a few emails in the past and in 9 times out of 10 I never got anything back. Even the larger 5%+ shareholders have the same problem with this.
They are the opposite of being transparent with everything, which they need to be to survive, I mean, break all the bad news already, it's not like the share price could go down much more now anyway.
Shares seem to be worth nothing to Solomon, why should anyone pay for them?
4 million to 50 million in 10 years, seems like a good growth if it was the profits instead of outstanding shares, at the same time the profits have been going down over the last 6 years or so.
Tremendous numbers of broken promises/pump&dumps/carrots must be some kind of world record.
The NT-10k gave the impression that they will continue this route, it almost feels like the ultimate goal is to destroy the SP. I would not be very surprised if they soon will have to sell their TRW shares very cheap to "someone" to cover the debt.
BTW, shouldn't we see a filing here soon, someone is picking up shares, these 200 k shares that are being dumped here on a daily basis must end up somewhere? Also for the 2 million share block that Solomon gave away for 55cents
Yeah, we are unfortunately beyond quick fixes. Are you sure about the note, or is it a 65% discount from $1,5? If Ecab or someone else got the same deal it may explain if they're converting at 0.55 now. I wish Petrejus would be able to explain where all the shares are coming from, we have seen 150k shares a day being sold for quite some time now, and probably 7-8 million shares before that.
There's no way that anyone would give them a 100M dollar loan with this background. I don't think Solomon understand the concept LOAN, where he actually have to pay the money back in the future. His ATM with shares are over, the banks will not even want to sell his shares to get money back soon.
Solomon needs to leave his A shares and his company to someone else or he will be facing a lawsuit. There seems to be zero cash for anything at the moment, not even Solly would do these toxic notes otherwise. And TRW is struggling with cash, what a shocker.
Solomon would never be able to handle $100M, he would spend it faster than he pulls up his pants after the daily morning "dilute and cigarette" routine.
With a 4 x 5c quarterly cash dividend the stock would trade at $1+ overnight.
Yes, but it would have been nice to know their strategy here. They must have had one before they started, not only rely on siaf, it would also be nice to know why siaf only ended up with 36.6% since it’s their tanks that actually produce revenue
I think we should start off by getting the details regarding cash transactions into TRW. Supena it or whatever. I would not be surprised if 1 million got a 5 million dollar valuation and the partners are running out of money. It feels like Siaf is the only thing that keeps pushing it forward at the moment.
Or if they just are trying to milk it, as for now, if someone offered $30 million for siafs receivables in TRW including their 36,6% ownerships how many wouldn’t take it. It would mean like 3 times the valuation in a cash dividend, that would probably be a sweet deal for many longtimers here at the moment when everyone are bleeding.
This stuff is driving me nuts (and the entire shareholder base). Why can't they just tell us what is going on?
which could mean they issued shates at 55 cents to ECAB, and then he needs to pay back more money to ECAB.
0.55 cents yeah, but why would this be ECAB? Then it should say 3 bucks?
We know that it's not Garrett since he recently told us that it wasn't him.
It could be for loans, interest, or something new.
Of course he knows, it’s not like the shares he gives out for free are unregistered.
What will he do about it? Does he even care? I think as long as it works as an ATM he does not care. Feels like we have good evidence for that now.
I’m a bit worried and it seems like Solomon are too. Why would he take out his loan otherwise when they need it more than ever. I’m pretty sure this isn’t the first time people have threatened him with a lawsuit.
It seems like we still have a few buyers left. As for now it seems like they only sell a batch every 1,5 hours instead of dumping everything.
They don't have Garrett's money anymore. I bet those went straight to ECAB and for buying seafood.
With the cash flow statement, there will not be any dividends in near time IMO.
The primary reason for the decrease in development revenue was due to Tri-Way Industries Ltd., having insufficient cash-flow during Q1 to spend on farm development, thus reducing Capital Award Inc.’s consulting service and turnkey contracting services income during the quarter. At this time, Tri-Way Industries Ltd. represents the majority of contracted development by Capital Award Inc.
a special dividend of 5cents? are you nuts?
What's the strategy here,
What if they:
1. Promise a dividend plan that will be set on AGM in December.
2. One special dividend in August of 5-10 cents.
3. Promise to start giving a quarterly dividend from Q3, Q4 or Q1.
4. Dividend announcement, of giving a dividend anytime soon.
5. Trw dividend in August.
This is why a lot of people in here has lost so much money, do you think that is the whole picture?
4 million shares outstanding to 40 million shares outstanding gives you about a 90% loss if they’re not able to do anything good with the capital, I mean how hard should it be to gain 15% of your investment every year in China, and to actually do something to add value for suffering shareholders at this stage (or for 2 years ago).
5 bucks a share in average x 30 million diluted shares gives you $150M that Solomon has been pissing away from shareholders/lenders (so far), however I think the profits may start to go up from here, but we all know where all the money goes, and with dilution it won’t matter in the end. Assets or receivables doesn’t mean anything unless you have something to back it up with. To not sell assets at this point should be a crime, but instead of selling assets or use cash flow to support the owners Solomon chose to dilute half of the company for pennies. Solomon need to wake up, but also a lot of shareholders.
If Solomon doesn’t stop the dilution and protect the SP, it will soon be trading at a few cents, as for now this is like buying cancer with potential. EPS and a good strategy is all that matters.
Who knows if Solomon started to pay of the ECAB debt with more shares.
Garrett just told us that Solomon hasn’t paid him anything so far, will we see any changes here soon?
There's been a lot of dumping here in the past 3 years if you haven't noticed. And I'm not just talking about Högset and Fredly, Merkur alone has gained 4 million shares and at the same time, Garret has been buying on the market (otc). No questions about that there's been dilution that has been hitting the market. It doesn't really matter if it's from US loans, top up shares, ECAB or China. We're trading at 30 cents for a reason, everyone got all the shares they could swallow a long time ago.
And I was proven right when Solomon transferred $20M to TRW in Q4.
It's been obvious since we broke below 4 bucks. Idk if this guy gets it tho until no one is willing to trade anything against shares. As for now, he's actually getting money for the stock.
Try to get that money out from TRW... It is, as usual, Solomon has spent it 6 months before he even received the money in the first place.
Let's concentrate on a dividend plan, consistency, not a one-time thing because that would only hurt the stock.
don't think 5 cents/quarter is enough to help us out of the mess Solomon made with the toxic note. Assuming we get a yield of 10% (which shouldn't happen with Dilution-Lee) that indicates a PPS of 2.0. That means that Garret can convert his note into 4MUSD/(2*0.65)=3 million shares which is close to 10% dilution. So a 10% yield in SIAF equals a 0% gain post dilution, assuming no more other horrible deals from the savage.
There are only two ways here;
1) 10 cents/quarter, or (better)
2) Somehow get Garret to accept a full repayment of the toxic note