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A passive investor must file Schedule 13D promptly if it acquires more than 20% of the relevant class of registered equity securities or ceases to hold the securities for passive investment purposes.
They never had those 3 million shares, so I do not really understand you? It was only in the right to convert note? And they would also have had to file the 13G/A/S when Avanza, Garrett, and Nordnet did it in January / February.
I guess if they get more shares then we would know for sure since they will have to file a 20% ownership.
Just think about it, why do you not think they get all the 5,3 million shares at once if they wouldn't try to fly under the radar. And doesn't it make sense since we have seen all these shares on the ask right after siaf has been issuing shares?
Or they might just use a bank as a middle man to sell them so they don't have to put it in a filing. Either way we should have seen a filing from ECAB a long time ago if they weren't selling the shares.
So your thought is also that they haven't even received any new shares at all yet, because they would also have to file the acquisition of those shares, right.
Garrett doesn't really know more than we do, not according to him at least. He still have some big concerns, and the loan would be nice but its something that may or may not happen. It's never a done deal until it is.
3,663,512 shares of Common Stock that may be obtained upon conversion of the Note.
We'll we have seen a very distinct relation between when they issue more shares and the dumping.
You know that 5% of 20 million shares O/S as we had back then when he bought in isn't a helluva lot of shares anymore. It's only 1 million shares, and we're seeing blocks of 400-600 k shares being dumped in a couple of days sometimes. We have also seen Avanza and Nordnet stepping up in the ownership, togheter with Garrett. So I would say we have still seen dumping from loans. I belive its been Ecab who's been dumping most of it.
Just think about it, if they would have issued those 5 million shares at once they would not be able to sell any without to report it since they are way past the 5% ownership. That's most likley why they get a "few" shares here and there..
Ecab would also have to file a 5% ownership a long time ago since they have been reciving a lot of shares already (in total a lot more than 5%). So it's clearly them who's been selling.
Imo, neither Hogset or Fredly is short
Jikes, the news about högset wasn’t great, they had 5% but they have also recommended a lot of clients to buy the share. Högset and Fredly might be looking into to sue the company together.
I wonder how long he has been selling for, how much he still have and why he waited until it now to tell the market. He still had his position around November or something like that if I’m remember it correctly.
When is the conference call? It's soon time to file the Q1 report.
It was in december when we started to see increased dumping and volume. When it broke below the lower trendline, I wonder if they sold a lot of shares so far tho, maybe 2,5 million shares?
This is absolutely something I would like to know too, it would be a disgrace if he takes shares at all with this performance.
The ask looks a bit better but since they sold a bunch in the first 10 minutes idk. Things can change quickly in this stock.
At least ECAB won’t be able to pull the rug underneath them this time.
Oki, back to square one then, the dumping and manipulation might/should come from ECAB alone then
Yes I assuming this as well, how did it get reduced tho? By dumping? We saw a lot of dumping just before the year end. /after the 50M raise a/o/s
It would just be nice to understand how many of these loans that are toxic
So they paid it or the lender dumped those shares? I meant yes I know they have reduced it, but how? If siaf would have paid the reduction in cash we should probably have seen some kind of share decrease, right?
Is it now safe to say that they didn't pay any money towards loan 1 and 2? We never saw any share decrease?
I guess he is still betting to receive that loan in the near future.
At this point, I don't think the SP in siaf would increase that much if they would get another 8-10 % holding in TRW. They just need to show everyone that the company is profitable and are able to handle cash. A consistent cash dividend is the only way to go at the moment.
I would for sure be happy with 3 cents in dividend first Q and raise it with one cent for every quarter, but for now it seems pointless to talk about dividends since they're rather giving up their company for nothing to ECAB.
Do we have a CC question sheet?
I would really like to know why TRW isn't able to pay any money to Siaf. I understand it would be good to get the cash flow up, but Siaf is dying at the moment.
In fact, this stock was supposedly a 'dividend play' years ago.
Sorry to hear RD. There are always other options for you.
I had for some reason a memory that the ECAB note only was at 9 million left, wow, then it was even worse than what I was calculating.
Siaf received $25 million dollar from ECAB, SIAF then paid off $16 million, + 5,2 million shares + 400 000 trw shares.
And now Siaf still has a 16 million debt, which ECAB also get a 10,5% interest on, which will equal to almost a $20 Million debt for the company when and if they are able to pay it off until 2020.
SIAF will basically have paid nearly 35 million bucks!? for that 25 Million loan in the end, and ECAB received 5,2 Million shares + 400k TRW on top of that, which is equal to double the number of shares the convertible bond was at first? And who knows if they will get even more shares.
This deal is the worst deal I have ever seen!! And it's still a big black cloud if they will receive any more shares which I do expect.
I guess that could be the case. We will see this in the Q1 report then I assume. I guess it has to be ECAB or Solomon who’s dumping. Where could they come from otherwise.
So in case we don’t have an increase in the O/S, we can finally confirm that it is ECAB selling the shares.
I guess it will also put in serious doubt their famous 2 year DD on Solomon.
FB certainly made tons of money from SIAF. I heard that he bought tons of shares before ECAB deal in 2014.
This was clearly ECAB:s plan from the beginning IMO, and they just stopped supporting the company. We never heard anything from ECAB after that podcast even though they would be appointed after that.
Directly of that podcast was when I heard about the bad feelings towards FD for the first time.
If they just didn't get along then they would just have demanded cash in the end, but they went for shares, and I assume they will do it again.
is this going to haunt us again?
ECAB took this company as their hostage, I won’t be surprised if they’re converting another 5 million shares for 1 USD in a couple of months. With a SP around 30 cents this may very well happen.
You have recently been criticizing the Ecab-deal quite a bit I remember. Why did the stock rally up to 17usd if it was such a bad deal?
Even if it sucks to see new shares flooding in we should remember that these guys are willing to buy a lot of shares at 1,5 and 3 bucks, just as a reminder we’re trading below 40 cents. In the end of the day this is only Solomon’s fault, however I am pretty confident that ECAB has a lot to do with why we’re actually trading at 40 cents. A mixture of ECAB and Solomon was this stock death sentence.
Yes of course, but I have 10k shares left. Not that I care too much.
ECAB may still convert the other 15 million to 5 million shares right? Which will give them 10 million shares in total
Okay, but still, these guys just robbed all of us.
And a negative year on top of that, it's insane that Dan told everyone at the CC that "this is the bottom for the share price"
The note is convertible, at the discretion of the note holder, into shares of the Company’s common stock (i) at any time following an Event of Default, or (ii) for a period of thirty (30) calendar days following October 31, 2015 and each anniversary thereof, at an initial conversion price per share of $1.00, subject to adjustment for stock splits, reverse stock splits, stock dividends and other similar transactions and subject to the terms of the note. As long as the note is outstanding, the investor shall have a right of first refusal, exercisable for thirty (30) calendar days after notice to the note holder, to purchase securities proposed to be offered and sold by the Company.
This was way worse than I expected, our TRW holdings / potential went just down a bit more than 60% what it looks like.
We will soon see 50M common shares I guess..
I am most worried about ECAB, if I understand this correctly they had an interest of 6 million since the year 2015, that is why they are writing 15,5 million. So they can / already have convert them to 6 million shares + they get another 5,2 million shares +400 000 shares in TRW + interest on this note until 2020!?? Which means they will get additional 3 million shares if they convert them. All in all, over 14 million shares?
IS THIS CORRECT!?
JUST REMEMBER THAT SIAF PAID ECAB 16 MILLION DOLLARS ALREADY AND WAS BORROWING $25M IN TOTAL.
And they still collect 10,5% interest on them, which they can convert to 1 dollar/share.
Garrett destroyed the company. Or is there something I'm missing?
So if Siaf doesn't pay interest ECAB can choose to get it in shares for 1 dollar/share instead..