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There's still a money issue. Garrett has been talking about dividends for a long time. Not sure if ECAB would care as long as they're getting paid after the agreement. I would understand if they stopped the TRW dividend though, but they could just have converted to some shares before, which they never did.
It's taken out of my old bad memory, it was like $336k in base salary and then he renewed the agreements of being given shares when the stock price went down which ended up like 80k more worth than the old terms, but I guess that could have been for 2017. Either way, the man is a hustler for playing with the shareholder's money.
This is all Solomons fault, he's been putting himself in these situations over and over again. He's a big spender and a gambler, he spends all the money he has before he even gets it. And how hard can it be to provide a stable income if the shrimp prices are stable and without being affected by any decreases? He's unable to listen to anyone, don't know why he has a Shrimp doctor that he's not listening to, he needs a mental doctor. He's going for these new ideas that never play out even if the core business works and been proven during all these years.
ECAB was even telling everyone back then when they did the deal that he needs to manage his spending, which he never did. Yes, Ecab put the whole company in a bad place, but they should not have to struggle for this long over $16M/$33M dollar? They've got plenty of loans after that and dilution money on top of that, so how hard could it be to pay off ECAB's debt in 4-5 years if they've been making like $30 million a year?
Solomon is screwed, but he's still the winner after letting his shareholders fill his pockets. It makes sense why he raised his salary this year to almost $500k.
If Ecab wants anything to do with the company they could basically get the company for free now, but Solomon might rather see it burn, either way, ECAB will get paid before any other shareholder.
I also liked what he wrote about Nisse. Nothing to do with SIAF, really Solomon.....
What I was trying to say is that if they would pay out something in January and then again in December next year that it is a very long time in between, and who knows how it will look by then. I was trying to say that I really think a quarterly dividend would be soo much better.
But this might be better for Solomon if he chooses not to pay one
Hmm, so you think they will pay you this Q? Or Q1,Q2 and in Q4? I don’t think so
Oslo has an otc list as well, if that were to happen I think it would be trading there, but it wouldn't be good for the shareholders.
A quarterly dividend would be something I would prefer any day vs a Semi dividend and would help the share price much more.
I personally don't think they will have any money for the next 4-6 months, but that's just me. He's a spender, he never learns from mistakes, do not have any big hopes for a special dividend nor a quarterly dividend. I think I've heard those two words "special dividend" before in the past... Please, don't give Solomon more ideas that he can't hold.
The thing is, they have already failed if they don't give out the cash before this year end, otherwise, it's a Q1 dividend.
It's kinda funny, if these guys didn't have any business then they wouldn't have had any problem to give out a dividend of 5 cents (which is only 2 million dollar), after all, they diluted the company with like 20 million shares this year.
I am staying away from this company at the moment. I don't think they will deliver on the cash dividend, what I am afraid of is more dilution and if they're getting kicked out from Merkur. There are some powerful people in Norway that are very upset how Solomon has been running the company.
A dividend of 5 cents for the next 11 months(?) wouldn't change that much at the moment, a 15 cent spike in the chart, yes probably, but we need to know that the cash flow will be stable going forward and that Solomon will keep his financials under control. If this was a private company they would have been going under 9 years ago, and basically almost every year since then, but he's been using his shareholders as an ATM.
I agree with most of the things you wrote except the 1 dollar floor, there’s been plenty of first north stocks giving out more than 15-20% on a yearly basis, however after a year or two these tend to go up.
In Siafs case there will always be a lot of uncertainty while Solly are running the show. I don’t expect Siaf to have a floor higher than 50 cent during the first year if they would give out around 10-12 cents on a yearly basis. The market will wanna know that they will keep doing the right decisions for the next year and the year after that, who knows what will happen in the future with this guy, he might have to dilute again after over investing in something that goes sideways.
There may of course be other triggers that could push the share price up, loans, growth, contracts, Solomon’s retirement etc.
I sold because it smelled bad, they didn’t even announced it public though newswire etc. and with Solomon’s track record + chart it was the right thing to do. And on top of that Merkur announced it.
That’s in our past now, what’s important now is that the dumping stops. I hope people doesn’t have to high expectations regarding this cash dividend.
We’ll see if Nisse sells his shares after the year end when he’s not binding to report anything to SEC
So what are saying, so the TRW dividend still pending according to you even though the company announced that they screwed up, and that they’re doing it at a later stage, and paid a fee to Merkur. And the market and Solomon are wrong? If that’s the case you need to zoom out a little.
Solomons success rate is probably the lowest in the world since 13th century
So I was the one who were wrong about the ex-date? Merkur even gave out an announcement. It clearly stated when the ex-date should have been. I had a feeling that they would screw it up, the stock should have went up more and the chart told me to sell, I’m not in the business to give away my money. I don’t know if we should talk about being wrong here when you in fact were the one pumping otc and people even sold on Merkur in order to be buying 40% higher at Merkur.
Yeah it can absolutely be old shares, they’re still dumping shares? We haven’t even seen why they issued some shares last week on Merkur, which is slightly weird, they should have announced it by now.
Yeah, I was hoping for the 1+3+10 million dollar loan, but who knows they still might have got it, it’s not like 1 million makes much difference when you’re having a CEO dumping half his company away in order to fill up the blanks. Solomon is cancer, he spends money he will receive 3 months away.
I’ve been buying from OTCX in the past and they’ve been filing the exact sum of shares as dilution. Either way it’s not very positive that we saw more dilution last week nor that we’re seeing all these shares on the ask.
Regarding the cash dividend, they should have filed it before the trw ex-date if they had the money.
? Do you think I’m shorting? I’m not able to do that with my account.
I haven’t had any shares since 40cent+, besides like 20+14k during one day after the “plan to give out a dividend” announcement. I’ve been very clear what my view has been, not that anyone have been listening though..
Cdel, nite and OTCX together hasn’t been a good sign before. Just saying.
At this point I should be more worried about seeing an A/S raise than not getting the dividend paid out.
Otcx has in the past been dumping shares for Solomon. Is this smuck continuing his dumping. Unfortunately we might see a A/S raise soon.
Solomon spent all the money before he even got it, again. Where did all the dilution money go through... According to the Q-reports it hasn't been that bad this year
I don’t, but they would probably have halt the company by now then? And they paid their fee. It’s all a big shit show so all of the shareholders should try to get Solomon to a retirement home. When is it enough, all the good guys have left in one way or another
If there’s no money there’s no money, but I totally agree with you, I almost thought they would kick them out after the TRW dividend failure.
I’m not sure they will be happy about the cash dividend either, after announcing it in serveral Q reports, Solomon is already on a slippery slope and there’s an investigation going on, but hey if he gets lucky he can always pay another fee without getting kicked out from Merkur.
After the EX-date of TRW? They had to take that back, they will try to make it right the next time, whenever that can be.
Well it’s been an expensive house for some of you.
Solomon keeps making mistake after mistake, I do think they can survive this but the costs for the shareholders have been ridiculous. I really cannot understand how long this has been going on. And I think it will go on for another 6 months
I think you know the answer to this.. they should have delivered it by now if they had the cash. Also “we plan to..” is never a good sign. People has been in this stock for a long time and I don’t understand why they’re not learned anything after all these years
But They clearly stated that no compensation will be delivered until Q1
If they didn’t had to make some kind of compromise it still hurt the client and the future business.
Solomon’s How to go from 17 bucks to 20 cent in 3 years dummy book, screw the people you take loans from, dilute the company with more than 150% (or 1250% in total) and sell the shares directly to the market. Lose half your business (sjap), build a facility in a swamp, give the shareholders 20 carrots without delivering anything so it will hurt even more, don’t tell anyone about any bad news. Be based in China when you’re lowering the credibility to zero, all the time and cost estimates should be more than half the time and money of what it will take. Even if you’re having a plan that works, don’t stick with it, it’s better to take chances on something else you have no idea of how it will play out, even though everyone on the board calls it out and try to explain.
Let the parent company who doesn’t really make much money take all risks regarding new loans for the other subsidiary’s. Spend all your future earnings before you even get it paid out.
Do Siaf need a new CEO, I would say YES!
Regarding the dividend, it’s only 3 weeks left in December to keep their promise to deliver in Q4 they need to hurry. Wasn’t it planned for mid Q4 after the TRW dividend?
If they deliver in Q1, they’re running behind and technically canceled the first dividend, because we won’t see two dividends in Q1. The people who think we will get a bigger dividend than 5C should try to get out of the la la land.
I think everyone is pissed because Solomon keeps doing his own thing, gambling with money and never stick for more than a second to what they know will work. Instead he always finds other opportunities that will be the next money machine which always equals more delays and money in the drain.
Solomon never listen or learn, and it’s the shareholders who always end up paying for it.
If I’d see Solomon start lending out money to Siaf again it would feel a bit better..
I also think he should buying shares himself, I mean a $500k salary gets you plenty in China. I really think he should step down, or start making some progress for the shareholders if he should keep that position and salary. The salary raise he gave himself is not the way to do it while diluting the company with 100% in one year.
What I would love to hear about Angolan:
When will Siaf starting to making an income from this, I guess it’s safe to add 0.5-1 year to whatever we’ll hear..
How much will Siaf invest in this, they have a tendency to have a need to own 25%+ of the pie, we don’t need another big project if it will be another black hole where Solomon spends every single dime into, (money he doesn’t have).
Got it, I guess you could also speculate in that we wouldn't see millions of shares on the ask at 23-24 cents if the company had the intention to give out 17 cents in cash dividends + TRW shares within the next 14 months.
I don't think Solomon know how to have a surplus in his balance sheet, he has always been a heavy spender and a gambler without taking loans, debt, and promises to his shareholders in consideration. He has also made a lot of mistakes and promises he rarely (or never) follows up.
Let's see if the history repeats itself for the 20th time...
Good luck!
He will pay at least 5c before 1 Jan 2019.
You don’t have to put me on the ignore list, I’m done talking in here anyways.
We’re all grown ups here, everyone can take their own decisions.
I’m a member, and he told me that he got enough. So that’s just BS.
I’m not trying to bash the company, I just feeling bad for some of the long term holders that have put in way too much, it’s never too late to reduce risk.
I think it’s better if I’m keeping my thoughts for myself from now on. Good luck guys
Do you think ECAB will let Siaf pay out anything before their debt is settled? And they didn’t convert..
Why didn’t you just sell your shares after the record date, you could have made some money on puts for once.
This company is under the water with everything, why would nisse abandon ship if they have a bright future at least near term?
Just look at these guys track record..
Even if we all voted for RD, what makes you think Solomon would put someone on the board who would tell Solly what to do, however I would pay for having RD running around in the office and whisper “savage...” every day.
May I ask where you’re from?
The language also went from, we will give out a dividend during Q4 after the TRW dividend.
Now it's not that long time left, and now its the plan to give out a dividend before year-end.
He better step up on the Conference call.
If we would see any more dilution at this time then it won't be pretty
Yes, you won't be able to see any bids below 500?
Thank you I'll pass, I'm all out.
EDIT: Bull; from what I see there were only 9000 shares traded at 24.6 cents or more on OTC yesterday. Did I just bust your balls AGAIN? :o
You're right, it was only 13 968
SIAF 13 968 0,2460 31 008,28 SEK 9,04
I ordered 20k