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Well, it matters since Solomon is not allowed to issue new shares according to its contract with ECAB. If those collateral shares would not be bought back, then the company breached the terms with ECAB, I wonder how ECAB would react then.
The company could easily estimate how much money the lenders get back by selling all the collateral and top-up shares. Solomon knows when and how many collateral shares were issued, it is not too hard for them to figure out. One of the problems with this company is that they always try to deny and hide bad news.
What a surprise, finally they told us collateral shares were sold. They knew this long long time ago, maybe in Spring, at the latest in August.
What they have not told us is that they know that the collateral shares will not be bought back.
They will certainly lose money if the loan is approved, they sold the shares and they have to buy back. Go figure.
well, you explained it very well.Thank you.
No, they are installing boilers first. Solomon is hoping the company will get the loan. I cannot imagine what is going to happen if SIAF does not get the loan.
If I were the lenders, how about convince the bank not to approve the loan?
TS, but Solomon won't sell any assets. He is hoping for the best. That has been his strategy forever. Remember he said in the cc that the company will see light at the end of the tunnel.
Besides, the lower the pps, the more shares he is going to get. Why hurry?
Well, I just do not believe that they would have sold the shares if they knew they have to buy back within 3 to 5 days. They are not that stupid.
On the other side, based on the trading, the millions of shares dumped must be collateral shares. What else could they be?
Yeah, collateral shares will be returned, but not the top-up shares.
Handlamera, once they sold the collateral shares, they won't buy back. That is what most people believe. Apparently, you feel differently.
I vote for RD for his comprehensive contributions to the board, including his angry comments.
Handlamera, if the company wants to convince people that collateral shares have not been dumped, it is very easy. They only need to publish the dates and amounts of share issued. Then people can see from the trading what has happened. In addition, they could make the loan documents available to us. Months after months, they chose not to do anything. Does that say something you?
I think the collateral shares were sold, and they are gone forever.
Emptyone, I agree. Dan said they will issue the memo during cc, two weeks later, nothing.
I think the two loans were a set-up for the company. Remember, Solomon said that now people are knocking the doors of the company to lend money after ECAB deal. It has been an orchestrated effort. I always suspect FD is part of the plot.
The company is doomed.
sub 1. I guess you can buy some.
Anyone here is still buying? LOL
Solomon does not even have one supporter left?
RealUSA, you know in China space, many scams run hardly. FTFT tripled within a week.
If we have to say SIAF is a scam, it is a new kind of scam, which cannot be even be pumped.
Who is buying? Anyone? TS, Handlemera? For those who met Solomon in Sept., I hope you still believe what Solomon told you then.
I am always suspicious about what you said here. I think if SIAF breached the terms of the loan, the lenders not only can sell the shares, they also get back the money.
SIAF has certainly tried very hard to increase publicity in China for the last year. My suspicion is that it could be one of the very reasons why PPS is so depressed.
found this one as well:
http://shanghai-siaf.com/
I wonder how Garrett feels now. He must also be frustrated, if not humiliated by this investment.
Honestly speaking, I do have a hunch today that it was either Garrett or Emptyone selling, maybe they sold forever, maybe they sold for tax purposes.
The sad thing about SIAF is that it will never get a chance to be even pumped like some other Chinese stocks. Today, it is CCIH's turn, 140% spike. Last month, several other Chinese stocks were run up several hundred percents in a day or two.
Emptyone, no way it is retail investor, unless it is someone like you or that guy. The ask size is always more than 10 thousand shares. I am pretty sure it is collateral shares being sold.
The company could publish the number of issued shares everyday in their website. But of course they won't. I am pretty certain that OTC stops updating the number of OS shares last month.
Just like many of the shareholders on this board, Solomon has used all his dry powder. How many here were all in when this broke $3 and broke $2? Too many.
They have no intention to defend the pps, nor do they have any resources to defend the pps. No loan, no cash, no profit for SIAF. Even if TRW earns money, TRW does not have to give back profit to SIAF. HSA, Hu, SJAP will be losing money next year. SIAF has several loans to pay off next year and it absolutely has no money to do that. The shareholders will be extremely luck it this can stand above $1 by the end of this year. Next year, SIAF may be dead already. I am afraid Dan will quit, Nisse and Tony will also quit.
Solomon's ambition has ruined everything. FYI: I even found out that in May 2016, Solomom talked with one of the northeastern counties in China to grow rice. He is an idiot. Hate to say this, anyone trusts him a bit momentarily is also an idiot.
Blame no one else but yourself.
where is the loan? Maybe it will come from Santa's sleigh.
Whete is Hyperboy? Is RHI still in SIAF?
CANT is the one selling. But no clue on who is behind it.
Dan, have we bottomed out yet?
To make your statements creditable, you should disclose your holdings and post your tranaction statements. Otherwise, you are just another zero.
you need to give them this decade, if not this century.
Great, Dan said the pps has bottomed out.
He basically implied that trw dividend shares will not be distributed even in pretty distant future. They do not even have the money to pay for the tax to distribute the shares. We will be lucky if most of us can break even in the year 2020.
Oh, boy, this reply from zero is really amusing.
let's review the terms and conditions of what this really is which is that this is A-line of credit that is backed by assets unfortunately the assets cannot be collateralized and have not yet finalized the terms and conditions in addition since the assets are so screwed up and so thick and so basically impossible to value what they're doing instead as they're spreading a small loan a 100 million dollar loan which these days is nothing they're spreading it amongst 5 different institutions no one is willing to take more than 20 million dollars of provisional risk in addition to that whatever they in the being qualified for will be highly suspect because this is not traditional bank financing this is yet another questionable line of credit collectively backed by 5 banks collectively backed by assets that basically they have to re audit before these things will come into play so in other words when the announcement comes the credit will not be available which is exactly the same as what happens every time with sino agro food and/or any of their subsidiaries there is no audit the assets are faulty the assets cannot be collateralized and then when it comes to an actual loan the loan is instead A-line of credit that means that they can only use this money if they have a bankable customer on the other side of that loan and to date they Have shown us no structure no structure no assets that are bankable usable or able to be collateralized just as Dan their fake CFO has confirmed today there is no credit that will be given unless it's A-line of credit and that line of credit will be highly suspect because it will need to have a bankable customer on the other side of it in order to provide provisional credit in the 1st place in other words this continues to be the loan that is no loan and certainly will never ever see the balance sheet of sino agro food much less try way if ever. BANK WANTS AN INDEPENDENT AUDIT..... GEE WONDER WHY?
Half a year ago, I talked to Todd over phone, he told me that the company blamed Deutsche Bank for the delay then. I am not sure whether he refers to this syndicated loan or to the other one SIAF failed to obtain. I was surprised that Deutsche Bank was involved.
summary of the cc: no loan yet. talk, talk and talk.
no trw dividend. they did not know they need to pay 35% tax, yet they told the shareholders the dividend shares would be distributed. they did not even own 36.6% when they told shareholders that trw shares would be distributed in June or July. funny.
no AGM.
SJAP is dead, no coming back.
that is the summary for the cc.
The company is supposed to pay.