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Somebody wants this held down. Yesterday's Short Inventory (available to borrow) at IB was 950,000, today it sits at 500,000:
http://bit.ly/1b6VgwW
More on the Longaberger story from the Columbus-Dispatch:
Chris Boring, an analyst, provides his view on the situation:
http://bit.ly/1k4YIvn
Why now the deluge of bad-news for Longaberger:
What worries me is this is supposed to be our largest (and best) holding. Corporate needs to respond to this, rather than simply deferring to "no comment":
http://ohne.ws/1w0hCcg
Today's article on Longaberger:
http://ohne.ws/1rxWZpU
Share issuance if calculated on a daily-basis is:
Between 10/31/13 thru 12/24/13: 107,407/day
Between 12/25/13 thru 4/7/14: 172,500/day
Between 4/8/14 thru 5/9/14: 104,250/day
Between 5/10/14 thru 6/25/14: 67,447/day
These numbers based on issued and outstanding shares:
As of 10/31/13: 129,952,943
As of 12/24/13: 135,752,043
As of 4/7/14: 153,692,043
As of 5/9/14: 157,028,043
As of 6/25/14: 160,198,043
My guess is that since they mention having updates on "Grand Openings" etc. that this relates to SJAP's own shops.
Otherwise, I couldn't see TESCO allowing SIAF to announce grand openings for TESCO's own in-store shops when this is something TESCO's own Communications Dept. would handle?
Regarding pricing, big-box stores generally stipulate limits based on usual and customary pricing of same product within whatever region each store is located. In other words, your product has to remain competitive.
Here, I'll make it easier for everyone:
All SIAF News Releases for 2010 prior to SIAF's registration:
http://sinoagrofood.investorroom.com/index.php?o=25&s=43&year=2010
http://sinoagrofood.investorroom.com/index.php?o=0&s=43&year=2010
All Financials prior to registration (hit View: ALL)
http://www.otcmarkets.com/stock/SIAF/filings
Also, remember that PR's and F/S's issued prior to Form 10 (Nov. 12, 2010) are only scrutinized by the SEC at the time of filing. In other words, before a Company is registered there is little, if any, review/concern from the SEC as to what content is released in PR's.
If the SEC had issue with the way and/or content of information released prior to registration, they would have requested, and the Company would have had to provide adequate/sufficient answers before the registration would have been allowed.
This also helps explain why SIAF cannot (and should not) release information today that it's unable to substantiate and/or withstand scrutiny from the SEC.
This article lends some perspective to their size:
http://bit.ly/1sHWkUr
What's interesting is that the number of available short share inventory at Interactive Brokers was 1,000,000 before the opening yesterday morning, and now shows only 35,000 available:
http://bit.ly/1b6VgwW
No Dilution, No Volume; Know Dilution, Know Volume!
The Series F-shares are preferred shares that were issued back in Sept. 2012, and carry a $3.40 per share dividend. Without getting into details, dividends on Preferred shares can be deferred, but dividends paid on Common shares cannot. Same with bonds; you can't defer payments on debt; otherwise you'd be in default.
Deferring dividend payments on Preferred shares is not a common practice, but it is one that the SEC allows for when it comes to a Company's ability to pay debt versus paying the preferred share dividend.
In other words, you cannot have dividends paid to preferred share holders while creditors go unpaid; that is unless you have no problem diluting the hell out of your stock to pay it.
Preferred share dividends can be deferred, but eventually (like any other debt) have to be paid. Otherwise, you'd end up in default.
Additional info about Ms. Lai in the 8K:
http://1.usa.gov/1j8cVWO
Apparently the real deal (link to CPA License):
http://bit.ly/TveNUH
Reading this article, one can insert SIAF in place of Alibaba throughout this piece, and sense the difficulty it becomes for Westerners to reconcile the methods necessary to conform to both China and Western standards when balancing this act.
It begs the question, "Are Westerners so naive as to forego an Alibaba investment, only because the square pegs are being lathed into cylinders to fit into round holes?"
http://read.bi/1iuQtqn
Current Tear-Sheet for SIAF:
http://bit.ly/1fqzFGt
Correct. Its likely that the SEC will be more concerned regarding S-1 shares since those are the shares that they're being asked to register.
That said, if (and when) SIAF needs to decide on whether it moves forward with its registration, the SEC will want to be assured that the O/S is sufficient to cover both the newly registered shares as well as those potentially needed for B-share conversion.
Yes, but the issue that one needs to focus on is that those 7M Preferred can be converted on a 1:1 basis for common shares i.e. there need to be sufficient shares to cover the conversion, if exercised.
Same goes for 26M S-1 shares, although in this instance the shares are not "yet" registered, thus considered non-existent, and therefore not considered part of the current O/S.
Bottom line is that when the SEC nears completion of the S-1, they'll inquire w/the Company to assess its interest to EFFECT the registration, and if the interest still exists, then an increase in O/S sufficient to cover the 26M shares, in addition to those outstanding, would need to be enacted.
Beautiful NEW article on megafarm in Undercurrent News:
http://bit.ly/1jkliCi
Also includes a link to Q/A interview held March 24th with the company. An exhaustive 9 pages:
http://bit.ly/PasvJU
Information I included in a post made last week might help answer (some of) your question:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=98492557
Currently, participants in the Stock Borrow Program could borrow from DTC in the event the Continuous Net Settlement system c/n complete a delivery of a security to a long member because a short member had not completed its delivery to CNS.
Naked Shorting has always been permitted due to the fact that those short would borrow from DTC until they obtained inventory to cover w/in 3-days of trx.
This intermediate source of shares will no longer be available come March 14. The reason given is that the practice of naked shorting has precipitously dropped off after the recession, and the profitability to NSCC with it, as well.
My opinion is that it's mainly due to Reg Sho, and the SEC's stringent enforcement of the 3-day rule, which had been practically unenforced prior to the recession.
Also, remember Naked-Short-Selling (NSS) will no longer be an available option to practice after March 14th:
Rule Change (w/SEC approval): http://www.sec.gov/rules/sro/nscc/2014/34-71455.pdf
Official Notice from DTCC: http://www.dtcc.com/~/media/Files/pdf/2014/2/7/a7676.ashx
Use this one instead:
http://www.indexmundi.com/commodities/?commodity=shrimp¤cy=cny
Nice exposure in South America aquaculture news:
http://www.aquahoy.com/
That's a helluva block; especially when you consider the low volume this stock churns on a daily basis.
Hopefully, whoever bought them isn't looking for a quick exit, i.e. for the sake of all holding this stock.
Someone just dumped 688,617 shares at $0.41 WOW!
Don't forget one of Party A's responsibilities is
"To procure the project lands gradually in accordance with the needs and schedules of each phase of development, and to apply to the Land Authorities of China to obtain official approval of the Land Use Right of the project land."
Not a small chunk of change when your talking about 8000 mu in China.
Need to add this to the 30% they're spending on Capex.
Here's one China source that's picked-up the release:
http://news.cnyes.com/Content/20140305/KIU6CW0W0L74E.shtml
in case you're interested, shorting w/become more difficult come March 14 due to National Securities Clearing Corporation's (NSCC) decision to discontinue its stock borrow program.
Rule Change (w/SEC approval): http://www.sec.gov/rules/sro/nscc/2014/34-71455.pdf
Official Notice from DTCC: http://www.dtcc.com/~/media/Files/pdf/2014/2/7/a7676.ashx
Probably what Solomon means in the PR when he says, "I look forward to reporting more details as further approvals materialize, and project activities progress."
Add this to the mix, and it appears we're heading back to 2002 all over again:
http://on.mktw.net/1cuLCUh
Why the SEC? It's been filed where it needs to be, which is with the Nevada SOS office: https://www.nvsilverflume.gov/businessSearch
Type in Sino Agro Food to see BOD displayed.
As for the SEC there is the Board resolution, but this doesn't need to be filed before making new BOD members public.
As long as it's displayed through the SOS domain, this is all that's required.
If a PR is issued, then an 8-K w/b filed w/the SEC, as well.
WSJ: IPO Split-Offs Gain Popularity (SJAP, anyone?)
The Big Number: 14
That’s the number of IPO split-offs companies did last year. A lukewarm environment for mergers and acquisitions encouraged companies to turn to the red-hot equity markets to shed units and raise capital.
The number of initial public offering split-offs—those that raised capital—hit 14 last year, a post-financial-crisis high, according to audit and consulting firm PricewaterhouseCoopers LLP. That’s more than double the six completed in 2012 and the most since 2007, when 16 were done.
“Activity in M&A is good but not great, and the stock market is doing very well,” said Neil Dhar, head of the U.S. capital markets group at PwC. He said there was a lack of buyers willing to pay up for business units, particularly at the valuations implied by the stock market.
There were fewer acquisitions last year than since 2009, according to Dealogic. All told, companies announced 10,010 M&A deals in 2013, 18% fewer than the 12,226 deals announced the prior year.
For example, pharmaceutical giant Pfizer Inc. in February turned to the equity markets to sell part of its Zoetis Inc. animal-health unit. That deal raised $2.2 billion and came after Pfizer rebuffed an offer for the unit by Novartis AG.
Mr. Dhar said that the recent wave of split-offs has been almost two years in the making, as companies often take a year or more to plan for such a separation.
And the trend may continue. Later this year General Electric Co. intends to offer 20% of its retail finance business to the public, with plans to split off the rest of that business in 2015.
Long story short, under the NASDAQ Capital Markets tier (at least under 2 of the 3 qualifying windows), you'd have to trade at a minimum $3/sh for 5 consecutive trading days, just prior to listing.
If NASDAQ is happy with the volume, liquidity, share price stability, they'll allow for listing to take effect.
If they see too much price instability (to the downside) they may ask for an additional 5 days to see how things level out.
So, yes. Get the PPS to $2/share, upon NASDAQ's conditional approval perform a 2:1 R/S (to $4/sh), have the PPS remain fairly stable with decent volume above $3/share (stability and "decent volume" are judgement calls by NASDAQ), and voila we're off to the races.
Here's a great write-up defining Dragon Head status:
http://bit.ly/1cIcsLS
China consumerism appears to be increasing (WSJ):
China’s economy appeared to be losing some momentum in November, data Tuesday suggested, but it also showed signs that growth is slowly making a long-awaited shift away from investment and toward consumption. Industrial production grew 10% on-year in November, down from October’s 10.3%, while fixed-asset investment rose 19.9% in the first 11 months of 2013, just below expectations and lower than the January-to-October figure. Meanwhile, November retail sales beat expectations, growing 13.7% on-year vs. October’s 13.3% rise, and auto sales hit a record high, both signs of quickening consumption.
Coupled with data Monday that showed inflation pressures easing slightly, the numbers led Standard Chartered to predict Chinese growth would slow next year to 7.4% from an expected 7.6% this year. Despite this modest slowdown, the shift in the composition of growth is welcome. It comes as the Communist Party’s annual work conference gets away, a gathering tasked with putting meat on the bones of an ambitious reform agenda outlined at a major party plenum last month that was aimed at transforming the hitherto export- and investment-dependent economy into one that can count more on sustainable, internal drivers. Some economists believe the delegates at that meeting could reduce the government’s 2014 growth target to 7% from 7.5%, a move that would likely acknowledge that any serious effort to rebalance the economy necessarily entails a period of slower growth.
Viking: quick rule of thumb is shares sold are calculated/added to the WAOS at weighted average, shares purchased/retired/etc. are calculated/deducted at full (i.e. non-weighted) value.
Q3 shareholder submitted questions are answered (link):
http://bit.ly/1g0Kyxq
Again, that's why I suggest that they could appoint one additional Directot now, and then a new (second) one once George is appointed CFO.