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Not sure if the customers have the needed amount of cash either
3) now you can start thinking again about that $100 party some time in the future
lol You don't have much faith in your own arguments that it is a proven scam and that it will go to 0...
I on the other hand am in this for the long run, and I expect there to be more bumps. How many, how big, and when I don't know. With regards to dividends I don't think the actual pay date is crucial, the main thing is to get an ex date.
Nah, short me the shares instead. You know they will go down to 0 anyways
PS. Quite a few pissed of shorters in Tesla these days btw. SIAF next?
I'm in, if you short me the shares that is; I have a bid for 14 350 shares at 26 cents now. It is twice the amount you wanted to bet, but sell me 7000 shares at 26 cents then.
PS. No freaking way I'll sell them back at you for 52 cents though.
He is both head of the compensation committee and part of the BOD. Further he signed the 10-Q filing where they declared the cash dividend policy. I assume he has more than one brain-cell, i.e that he either knows the details of financing of the cash dividend or asked. If he just signed without knowing or asking, it would be gross negligence (in my opinion). Especially with SIAF and the heavy dilution they had already been through at that point.
Dan signed as well btw, so that is two westerners that are up for grabs if the cash dividend is called of
Actually, the BOD can't approve a cash dividend, as they have done, unless they are quite certain that the cash flow (from CA) will cover it. So, I think they do have a plan. It's either TRW pre-IPO financing, or an asset sale, or a partner for CA
I know. One year ago 161k shares was a lot of money. If only Solomon were able to stop the destruction of shareholder value...
He has 161k shares, i.e 42kUSD. Not much at all *sigh*
20.29M, but increasing to 20 453 022 tomorrow (or in a few days).
The difference (150k) might have been dumped today.
I guess the dumpage were delayed this time. Same 55 cents batch according to Merkur, and it looked like dumping on Merkur today (or someone getting cold feet)
"There is a small whiteboard on the wall of the pool with information such as the pool number, variety, time, water, quantity, and administrator. The reporter saw that the water body of the pool was 150 cubic meters, and the number of jewel spots was 10,000. It was stocked in July this year".
Were you the one with 100k shares on the bid at NOK2.5 today?
but alot has happened on the megafarm
looks like ALOT has happened lately
He'll deny/ignore anything unpleasant, but what were you trying to say?
He could grow some balls and leave them in Garret's hands as well
And this is what we'll hear;
*Targeting a limited amount of shares once this batch is over - without telling us if we are close to the end or not
*Targeting ex date and payment for the cash dividend in Q4 - without telling us how they're planning on getting the cash
*More delays with the TRW-dividend, but they're working on it and hope to have a final solution in the Q3-report - without telling us why it can't be done now
Then we might be heading down pretty fast...
That being said; I'm all set up for the rocket, so go ahead Solomon; surprise us in a NICE way this time.
Take Nisse as well, as head of the compensation commitee.
The worst part is that Solomon benefits from delaying the TRW-dividend; post-pone it one year and Solomon gets another 1M SIAF-shares (at the current PPS). That 2% of the company btw - post heavy dilution.
This time it was a seller at Merkur though. Blocking the PPS from moving above 2.79, and also not showing how many shares he wanted to sell. Do we have dumping on both Merkur and OTC, or only OTC? (I haven't paid to close attention to that)
We had a "huge" iceberg on the ask at 2.79 on Merkur today as well
We would all like to see Garret in the BOD, but would you like (or dare) be on the BOD in SIAF? Just look at Nisse - chair of the compensation commitee, approving an employment agreement with Solomon where Solomon benefits from a low PPS... As long as Solomon has the majority voting power, Garret should stay away from the BOD. However, if Solomon were willing to decrease his power then maybe Garret would dare to be part of the BOD.
The same applies for 2MUSD, that is 10 million shares if converted now...
Garret seems to me to be a gentleman, but he is also a businessman. The change of terms is a token of goodwill from Garret to us, but we will not know the final answer until the note is converted or repaid.
Not sure what the rules in the US are, but I guess many would accept say $1 for their shares (or part of their shares) at the current situation. Garret could offer to buy all shares at $1 and sell them to SIAF for $1.1. Sort of a win-win-win (if only SIAF would get a hold of the money needed).
He did change the terms (from 4MUSD convertible to 2MUSD convertible), but as you point out; his first priority is to protect his investment. He has the option to protect his investment without screwing us over, and he has the option to screw us over and get the most out of his money.
Compare the 10-K with the 10-Q. From the 10-Q for Q1/18;
On October 20, 2017, the Company issued another Convertible Note (the “Note 2”) with a principal amount of $4,000,000 due on February 28, 2018. The note holder had the option to convert all or any part of the outstanding note into the common stock of the Company (the “Primary Optional Conversion”) or TRW (the “Secondary Optional Conversion”) at any time for a period of eight months from the note’s maturity date. The conversion price for Primary Optional Conversion is lesser of $1.5 per share or at 65% of the market share price of the Company. While the conversion price for Secondary Optional Conversion is $3.41 per share subject to equitable adjustment for stock split, stock dividend or right offerings.
Under the agreement, the Company shall pay the note holder 120,000 common shares of SIAF or 32,000 common shares of TRW as an origination fee. The note bears a flat interest payment which shall be settled by 200,000 common shares of SIAF or 55,000 common shares of TRW.
As of the date of this report, no settlement has occurred for both the origination fee and the interest payment, and the note holder has agreed to (1) extend the conversion of shares and to work with the Company for the issuance of shares at a time when better market conditions were evident and (2) to reschedule the repayment of the $2,000,000 in cash at an interest rate of less than 10% annually into monthly repayments at a monthly amount that can be serviced by the Company’s cash flow over the coming months.
I guess he's referring to that Garret changed the terms of the toxic loan in our favour. It's still toxic and Garret can still screw us, but seen from a strict business point of view he has been fair. Garret might be our only hope, so let's hope that he will turn out to be even more fair towards us going forward
lol Yes, a 10 year perspective might not be the best one - especially for those of you who have been with the company for many years already...
I've said this before, but I think the rest of this year will be very exciting - hopefully in a good way... We might still go a lot lower (%-wise that is), especially if they fail or mess up the dividend, but there should be a limit to how far down we can go. The upside on the other hand is a lot higher, although I have no idea how far the PPS can/will go if we get both the TRW-dividend and the cash dividend this year.
Unless Solomon already has made a 100% plan for how to pay the cash dividend, he should beg his ass of to Garret for a back-up loan for the cash dividend (that does not involve a clause for converting) or to sell TRW-shares for book.
They should also work their asses of to distribute the TRW-dividend asap.
The real question is what will a $10 000 investment today be worth in 10 years from now...
I was just curious to the yield The 5 cent dividend for H2/18 equals a 16% yield, or 32% if you regard it as a 6mth dividend (which I for one think is fair since they've given the policy for a cash dividend every 6 months). That seems "to good to be true", so many might stay away just because it is "too high".
Was the dividend declared before or after August 1st 2012? (I struggle to find historical data for the PPS before that date) If the F-share dividend was $3.4 for every F-share, and you got one F-share for every 10 SIAF-share, then that would equal a yield between 48% (using the highest PPS in the last 5 months of 2012) and 85% (using the lowest PPS in the last 5 months of 2012). Even if the actual payment was 4 years delayed, that's quite the ROI - if the dividend was declared in those 5 months that is.
It's sad that someone can get away with spreading lies - that they now are lies - over and over again
Out of curiosity; how large was the F-share dividend back in the day? (compared to the PPS the day the dividend was declared)
Mike; It's not fair to use facts! lol
The already debunked lies (one of which is that SIAF has never paid a dividend, or that SIAF only has paid a dividend once) that keeps being spread is bullish (longterm). Why would someone use so much energy to spread lies about SIAF?
There has to be a backup plan
I disagree; there are more severe, and frequent, lies than that (although I strongly agree that lies of any kind should be avoided)
Also; I have proof that lies being spread about SIAF has scared of shareholders. You might claim that they, as of today, has saved money, but that's (at best) half the truth;
1) These people might not be able to jump back on the train when things starts moving, and - even worse
2) Those lies increases the damage from dilution, hence affecting all longs permanently
That's not true, but top 5 for sure
Why do you even write such things? It is illegal to spread false information with the purpose to affect the PPS. That applies both to shorts and longs. Not much we can do with shorts, but we shouldn't allow ourselves to sink to their level (they'll just beat us with experience anyway).
It would make sense in terms of the cash dividend policy - Nisse&co might be in rather deep shit if they approved the policy without any idea/means of how they would finance it (cash flow wise). However, with Solomon steering I'm not getting my hopes up.
I thought the TRW-shares were a negotiation fee or whatnot, since $3 x 5 196 333 = $15 588 999
160k shares dumped in 30 minutes and only 1% down. Is the buyer back?
We'll just have to hope that there is a plan behind the financing of the dividend, like pre-IPO or other means for TRW to repay the needed amount (which still is very modest). At this point I don't think Solomon has a choice - the cash dividend has to be paid. If they play it right they might delay it somewhat, but it has to be paid. They declared the cash policy to give some support to the PPS, so backing-down on it might unleash even more havoc than paying it with dilution (if that is the alternative, he might consider borrowing back the money he had SIAF repay him last year).