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I agree, but he cant leave no matter what
No im not saying that nisse knew about the new ecab deal. Im saying that nisse knew that the relationship between FD and siaf went to shit years ago.
Of course he could have gotten out in the last 3 years if he wanted to. Inside information or not.
Only dan has some influence these days. Maybe garrett as well, that i dont know.
I agree about nisse, he has also been pumping siaf to his network for years even though he knew things werent that great. He knew exactly what was going on with FD but kept quiet.
Im not happy with nisse actions and if the company gets sued, nisse deserves his share of what is comming. However one should remember that nisse has probably lost more than most of us in this. He never sold a share even though he knew what was going on behind the scenes and he knew what was comming. He could gave gotten out at 10usd/share.
He is stuck, he cant resign even if he wanted to. He has a responsibility to his metwork.
It doesnt matter who is on the board as long as solomon is in total control.
Nisse is shareholder oriented and if i remember correctly it was nisse who pushed hard for the dividend a couple of years ago, solomon was against it. The jf-network is also pissed at nisse, so if he had any influence he would have used it. The problem is, has been, and will always be Solomon.
Btw nisse is playing ping pong in bangkok, so not in china...
Thank you for your reply, i appreciate it.
Im sure solomon cares for his shareholders to some degree, just not enough. I have heard that he values a company through the value of the balance sheet not the share price.
I too work in the finance sector and i have never ever come across a management that cares so little for its shareholders. Solomon can only act like this because of his A-shares. In any other company he would have been forced to leave a long time ago.
Usually its the other way around, a management (even those led by entrepreneurs) that does everything in its power to pump up the share price.
There might be a cultural aspect, but I dont like that excuse. China is full of bilionaires and china is more capitalistic that a lot of western countries these days.
The thing is, we have been here for so many years now and our situation (share price) is worse today than a month ago, than 6 months ago, than a years ago and so on. There is no doubt that solomon has misled us countless of times. There come a time when enough is enough.
We are trading at 0.3 and solomon still doesnt take any action to support the share price, that says everything about the man and how much he cares about us. Solomon even gains from the depressed share price since a part of his compensation is in shares. And because of the A-shares he can issue as many shares as he likes to himself so he is not hurting at all. If he was hurting as much as the rest of us he would have done something about it.
We just have to accept that unfortunately garrett doesnt want to get involved in the daily operations, he trusts solomons judgement and he doesnt want to change the conditions of his toxic note.
He already knows what we want. Why should we write him nice emails?
He is not a baby, he knows exactly what he is doing, how it affects us and the share price.
Solomon already knows what we want and what we think. He just doesnt care, never has never will.
You are the only one with the power to force him to change. You have a big responsibility as the companys largest shareholder.
Plz put some pressure on solomon, you are the only one with a direct line to him.
Make him terminate the a-shares, sell some assets, stop dilution, pay a q-dividend anything that supports the share price.
Im out of patience, i have been waiting for years for things to come around but it gets worse by the week.
I would rather see solomon/dan behind bars than continue this charade.
We are trading at 0.3 when the hell is solomon going to wake up if not even now?
News flash! Solomon is calling all the shots, taking all decision by himself, listens to no one except dan (sometimes).
Nisse cant leave the board even if he wants to, he had a responsibility to all jf-members.
The only one responsible is Solomon.
I can check... he usually replies, unlike dan, peter and solomon.
Nisse is as unhappy as the rest of us in this mess, believe me....
I think most of us think the same as u. I would also support a lawsuit but it has to come from the US. I live in sweden but if someone wants to file a lawsuit, im in 100%
The difference between ”us” and garrett is that we live in different worlds.
I believe garrett means well but he is far more well of than the rest of us. We cant afford to be trading at these levels, it affects our daily lives unlike Garrets. Thats why i think its hard for him to really understand our situation.
We have been waiting for 5 6 7 years for the company to succed, only to have lost most of our investment and our lifesavings. Maybe garrett can afford to wait another 5 years but the rest of us cannot.
GRDTRI, there is nothing that indicates that things will get better anytime soon, just the opposite. They keep issuing hundreds of thousands new shares almost daily. I know that you are our biggest shareholder but if you believe in the company then now is an excellent time to increase your holdings and vacuum the market for cheap shares. Most of us here have already lost a substantial amount of our lifesavings.
And we dont know nothing about the loan or if we will ever get it.
”He is going to get the loan” and when is that going to happen? 2018? 2022? 2030?
Solomon has deliberately given u false information of the loan status. I mean it was only formalities left 6 months ago... u cant trust anything he says, the market understands this now.
I think that garrets protection is to some extent an illusion as long as the company is run by these two clownes.
If he converts the share price will tank and there wont be enough buyers to swallow his 5, 10 or 15 million shares.
Its not in a cfo:s job description, thats for sure and its totally irresponsible.
So u are saying that our cfo performed a technical analysis of the stock and then expressed it to his shareholders? That must be unheard of?!
Maybe he should have done a fundamental analysis instead....
Reasonable after issuing 5m shares to ecab? A professional cfo doesnt speculate about the share price.
A couple of months ago Dan said we hit bottom at 1.2?! U cant trust these guys at all. Guess Garrett have to learn that the hard way now...
Maybe to some extent. Sure he can convert to 20m shares, but that doesnt matter cause the shares wont be worth anything. We will be trading at 1 cent if that happens. So its a lose lose situation.
I would really like to get garretts input on the new flood of issued shares
Empty maybe its time for legal actions, maybe u should talk to garrett about it.
It has gone too far now
Im in!!!
Cant believe garrett gave solomon another 4musd to piss away with no restrictions.
I dont think solomon is a retard i think he is a moron. I thought the banks were indian, not! Chinese...
And why should solomon care about dilution, in the end he can issue as many shares as he likes. If his a-share will be converted to 10% of the company then who cares how many shares are issued before conversion? Of course he will wait to convert until such time where he no longer need to dilute.
Yes We all know that solomon is forced to dilute, why is that? Maybe because of his horrible management. Solomon is no victim he is responsible for everything going on in the company, he cant blame anyone else. He is the descisionmaker.
Its sad to see you defending him. He is totally worthless as a ceo.
Jyyoo, you need to stop listening to solomon. He is lying through his teeth.
So he is pissed about the share price? So why does he continue to dilute the hell out of us? That is why we are trading at 0.3 not because of shorters.
Solomon is the only one responsible for todays share price, not the market, not the shorters.
If he was really serious about getting the share price up to decent levels he would have stopped the dilution and most importantly he would have found himself a replacement. He is a walking disaster.
We will probably lack a professional team in a year as well. Plz just liquidate the company. That is in the best interest of the shareholders. Then we will see the true book value and indont think its 25usd per share...
If i can get 2usd per share sell them cheap! Whats the point of having assets valued at 25usd per share when we are trading at 0.3usd? The 25usd are of no use to us in this company.
Thats why its best to liquidate siaf. Most of us have lost 80-90% the last couple of years when in a bull-market.
I just want to add that i have made my worst investments decisions when i have had some sort of ”inside” info, like when solomon says the loan will be closed in xx days. CEOs are generally too optimistic and u cant really trust them since they dont control external factors and regularly seem to underestimate them.
Solomon is either deliberately lying when leaking that kind of inside info or he is underestimating factors he cant control. I think its a mix of both.
I think the focus of the board is wrong given the current situation.
The best thing for all of us is for siaf to sell of all the assets and liquidate the company. Hopefully that will give us a couple of dollars per share. I would be happy with that just to salvage some money and get rid of the siaf-headache.
Solomon is a walking disaster, he has promised us so many things over the years but failed to deliver every time.
Im really starting to doubt that we will ever get the loan. I know for a fact that he told an insider that he thought the loan would be closed within 30 days, 60 days ago. Well thats solomon for you, cant trust anything he says.
I think its neither, if he wasnt already pissed 3 days ago why would he be pissed today? What has changed? He just gave solomon another 4musd with no strings attached.
He doesnt seem to know more than us, he is just living on the hope of getting the loan just like the rest of us
But the loan is not comming from china, its comming from india.
Its a sad situation empty, Im not a regular poster but i follow the board daily.
A lot of people (nisse, fd, garrett, you, me, rd etc) have tried to convince solomon several different things over the years, end dilution, coso, dividends, buybacks etc etc. its like solomon is a baby.
I doesnt matter, nothing good has come out of it. We have been waiting soooo many years and we are worse of today than yesterday, than the month before, than the year before.
Now garrett had the chance to force solomon to act in the interest of the shareholders. But no, he didnt take the chance. He just gave solomon another 4musd to play with. I think its madness.
Solomon doesnt care that garrett might convert to 15m shares. He still doesnt care about dilution at all. He is still diluting us at 0.5 which is total madness. It doesnt matter to him. We all know that solomon benefits from a low share price since he gets his compensation partly through shares. Heck solomon can issue 25m share to himself tomorrow if he wants.
It seems our only hope is the mega loan promised 6 months ago. And if we didnt get it, solomon would never tell us.
When we got the news about Garretts ownership and the new loan I thought this would be the turning point. But apparently not, since Garrett doesnt know more than we do. He is just living on hope just like the rest of us. At least ecab tried to put and end to dillution unlike Garrett.
Solomon is a total disaster and that will probably not change, ever.
GRDTRI,
I know that you have lost more than most of us on siaf but please keep in mind that a lot of us here have lost a big portion of our lifesavings. Our only hope is that siaf somehow can get their business and finances in order.
Since becoming a majority owner you now have a big responsibilty to the rest of us. My hope is that you will work with the interest of all shareholders in mind. Do that and you will become our hero.
I hope you are in close contact with solomon, guiding him on what to do.
Thank you