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lol Fat chance He's even twisting the TRW-distribution it into a broken promise... It would be nice to reach 10NOK to get an end to those lies being spread, but I think that promise was just another of those lies.
If you believe in fairy-tales then maybe the upcoming cash dividend will save you
It shows the difference between Oslo Børs and OTC...
Oslo Børs halted the stock after 200k shares and an increase of 40%, and thus forced SIAF to give the PR. OTC couldn't care less and/or the market makers are playing this.
Today's news articles in Norway;
I wonder if someone will do a follow-up tomorrow with an article in the actual papers.
https://www.hegnar.no/Nyheter/Boers-finans/2018/10/Sino-Agro-aksjonaerene-faar-utbytte-aksjen-stiger-over-50-prosent
https://www.hegnar.no/Nyheter/Boers-finans/2018/10/Nyhet-sender-aksje-til-vaers
https://aksjelive.e24.no/article/jPE6Gw
https://aksjelive.e24.no/article/A2w69j
https://aksjelive.e24.no/article/gPngA0
https://www.hegnar.no/Nyheter/Boers-finans/2018/10/Boersvinner-hoppet-50-prosent-nedtur-i-seismikk
hmm Why wouldn't they write that in the 10-Q? In the 10-Q they have differentiated between the super-old AR (which is to be included in the 36.6%) and the AR that wasn't due yet (which is to be settled within trading terms of 360 days).
Either way, Solomon should be rather confident about whether the cash dividend will take place in Q4 or not - as long as it isn't dependent on a loan, but he might not be allowed to finally declare it before they are done diluting? (maybe that's one of the reasons to why the information of the share-distribution had to come from TRW?)
I.e the cash dividend is dependent on loans? It doesn't seem very wise to base a cash dividend on a possible loan.
However, according to the 10-Q page 15 the AR for CA has a 360 credit time, and it would be very easy for SIAF to see when it would be cash-flow positive based on when the AR from TRW matures.
Did I misunderstand your post, or don't you agree that the cash dividend will come from AR from TRW? (whether it is from the TRW trade division or the AFs)
As of June 30th SIAF had AR of;
*91-120 days = 8.0MUSD whereof 3.4MUSD for CA
*120 days - 1 year = 7.6MUSD whereof 5.8MUSD for CA
*>1 year = 43.3MUSD (all CA)
From page 14 in the Q-10 for Q2/18 we have;
*$43,289,545 is to be settled by Tri-way’s shares included in the 36.6% equity shares that the Company received from the “Carve-out” exercise as discussed in the Company’s 2017 10K filing
*$3,413,141 (91 – 120 days) and $5,775,840 (over 120 days & less than one-year) is AR that will be settled within trading terms of 360 days.
My understanding is that it is the AR for CA (i.e TRW) that will turn SIAF cash-flow positive mid/late Q4.
RD; will you take a dive into the ARs in older Q-10s and see when, and how much, is due when in Q4?
The problem with this is that the wording doesn't make sense; they are speaking of apples (debt-repayment to SIAF) and oranges (cash dividend)... Unless they are referring to the "I owe you convertible notes" SIAF were talking about in the last CC (well, a cash dividend would still not be the right words).
Anyone asked Peter about this? (don't think he would know, but at least he could try to find out)
Seems like they either forgot about ECAB or has made (or are about to make) a deal with ECAB (cash instead of shares)
Strange. It is TRW that distributes the dividend shares and not SIAF, but
I would have thought that SIAF at least had to declare and distribute an "I owe you"-dividend and PR that (and then TRW could pay shares for that "I owe you")
Glad to hear
Well, some people are altruistic... However, I do wonder why some people spend so much time to deliberate spread lies all over the internet. Now even the long overdue TRW-share dividend/distribution is portrayed as a broken promise. Makes one wonder...
Mera; No need to exaggerate... In the last CC they said they expected to be cash-flow positive mid/late Q4, so in my opinion it is likely that we'll see more dilution the rest of October (at least).
However, we finally got the record date for the TRW-shares, and we also have the first payment date!
Also, if one believes in what they said during the CC (which one might not, although it seems very dangerous for Nisse et al to announce the cash dividend policy unless they know they will be cash positive sometime during Q4), then we'll have the first 5 cents coming in the next few weeks/months.
You took a screen-shot of the 10NOK-promise, didn't you? Might be needed soon...
Well, I'm not sure whether we will see 10NOK (under normal circumstances we would, but Solomon might have lost too much credibility and people have been active in spreading lies all over the internet for quite some time), but it sure would be wonderful to reach that goal! Although I don't believe he will keep his promise...
RD; Am I misunderstanding something?
18.3M TRW-shares * 3.40645$/TRW-share / XM SIAF-shares = $1.33 gives X = 46,87M. If we take the current OS (47.7M) and withtract the collateral shares (8.445M) we get a value of $1.59.
We shouldn't take $1.59 as the end-result though, since we should expect more dilution; cash-flow from operations positive mid/late Q4 from what I noted from the last CC.
Indeed, that's what it states. I were hoping there would be a separate ex date for the second distribution, but maybe they aren't allowed (didn't Dan say one year ago that they couldn't split the TRW-dividend in two because of market manipulation?)
Basically be careful with trading around the record date then
Well now that they have announced the record date I agree with you
Yes, 8M will be returned and then TRW will distribute the second part of the shares (to which I expect the total TRW-distribution to be higher pr SIAF-shares than what they stated, disregarding future dilution that is)
Well, the O/S might very well be raised before the ex date if that is of comfort to you It will be interesting to see how the PPS goes the rest of this year - has Solomon destroyed all credibility so that the PPS will remain at the current levels (or ish), or will the PPS reflect the distribution(s)?
That's the record date, not the ex date
I don't think they gave the ex date?
Crap, I almost got 13k shares on Merkur today, but lowered my bid... Like the way they played this, although one year too late. Still room for a lot of dilution until the end of the month though, but should be somewhat small (if any) I assume