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Series A shares has 80% voting power regardless of how many common stock that is issued.
You stated it as if it's a fact, which it's not. But I do also belive that collateral shares are hitting us, or I could almost say for a fact the is is the case based on all the information I have collected over the last few months.
My main suspect is still the US lender. Lending SIAF money with a 3,5% interest rate and with the same risk as us the shareholders without the upside potential just make no sense. They have for sure found a way to make a good profit from this deal. The company still claim that all collateral shares will be returned upon repayment of the loan as long as SIAF pays the interest and payback the loan on time. But I'm not convinced at all that SIAF will get back those shares. The company will have to provide me with better facts that words that there is no risk that the lender will not return the shares.
One could claim that the lender has hedge their position in SIAF by "shorting" the stock, or in this case just sell some shares. I would buy that argument if shares was sold on the first initial collateral shares, but there would not be any need to continue to do this with the top up shares since the risk is not increasing, the lended dollar amount is the same, so no need to increase the "short" position.
In my opinion, the company should do whatever it takes to repay these loans. At this point I don't care what kind of asset they have to sell, sell children and wives, I don't care, just get the money to end this nightmare for the shareholders.
Lets hope that next Christmas will merrier for the SIAF owners
What do you base that statement on?
The possibility that they will have to buy back all those shares in three days is quite thrilling though
SIAF has direct ownership in SJAP, it's not a "contractual ownership" that most VIE (scam companies) does. So they want to call it a VIE when it comes to how to book the revenue and asset.
What is your view of the current situation?
I'm trying
Read what I’m writing, I’m not saying it’s a shorter, I’m saying that it’s possible that it’s just shares switching hands.
We’ll see tomorrow, if it was dumping we should have a 250k volume day on Merkur tomorrow, if not, it was not dumping.
It just does not make sense that someone dumped hundreds of thousands of shares and we close on green. Who ever was buying could just wait patiently on the bid, but he didn’t.
Therefor the theory that it’s just shares switching hands does make sense imo.
I think Harms does have a good point. 500+k shares traded and the pps did not move. Dumping or short selling would have moved the PPS for sure of someone dumped a half million shares today.
Less than one week ago you where saying that the market makers active today is known shorters, today you are saying that they are collateral shares dumpers?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=136887941
http://investorshub.advfn.com/boards/replies.aspx?msg=136891934
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=137063939
So that shows strength
No nothing yet.
ks1977, do you have an update of the share count in VPS?
I think he has a longer time perspective of his investment than you and I.
Just as they did before the abattoir, selling the cows. If you ask me, I wish they never built that abattoir.
Siaf does not own SIAF HK, partners do, it's just an intermediate name they used when setting up the companies for the partners. That name (and all the others) will probably change to something that the partners agree on.
It’s not much for a founder of a company.
I have email Broadridge now. I have an old contact in Broadridge since the old dilution days.
That is strange. Used to see updates every week
I don't know if they update on the day there is a change, but I if you compare with their other clients you can see that there has been updates after Nov 7.
http://www.otcmarkets.com/research/service-provider/Broadridge-Financial-Solutions-Inc.?page=1&pageSize=50&id=2242&filterOn=6
There is no need, Broadridge update the OS when there is a change.
https://www.prnewswire.com/news-releases/otc-markets-transfer-agent-verified-shares-program-expands-to-include-continental-stock-transfer--trust-300535128.html
What can I say, RD is probably correct... given the circumstances maybe that is the best.
The share count is not going up, so for now there is no reason to belive that they have issued any more collateral shares.
We got the Q3 results
Pretty much all the other triggers are depended on that loan. My guess when they will announce the loan is just as good as your guess.
Yes, they are holding 707k shares together trough Capital Adventure Inc (but registered under Solomons name), that is why I was calculating the shares of the three originals.
From a quick check again - Tan Poay Teik and Chen Bor Hann retired all their shares in 2010 and Solomon some of his (5,190,002 shares of common stock were voluntarily cancelled by shareholders.) they never sold anything.
They also canceled 7m common stock and issued 7m series B stock which they later converted back to common stock again later on. In 2011 Solomon canceled 600k and in 2012 he canceled 400k.
In total, these three originals was holding 18,9+7= 25,9m shares in 2010 (2,61m after the split). I can't find the older filings, but I'm quite sure they where holding more back then. They are now holding 2,76m shares together, so they have slightly more shares now 7 years later.
What never happened?
Solomon has no A-shares in Triway, it’s not safe haven for him.
He wants Triway to get what Siaf never been able to achieve, access to finance any pay dividends. That’s his goal with Triway, I think he will be ready to step of when he has achieved that.
Not yet
My analysis of the situation is that he wants to turn the ship in the right direction and make “his” shareholders happy before stepping of. Until that happens I think he will stay in control.
He also said that he is not looking for another “Solomon” who is in control of everything, from designing filters to setting up deals, signing contracts, doing investor tours etc. He is looking for someone who can delegate the work needed to be done, something Solomon has not been able to do.
This question was raised in the meeting in Stockholm. He said that he would never give away the A-shares to any relative basically because he did not wish to leave them with such a responsibility.
There is no successor today, but they had a few alternatives within the Triway organization and he was also keeping an eye open for alternatives as they are looking for senior management suitable for a Hong Kong listing. It was very clear that he wants to retire or at least work less, he is tired and he has not the energy to work actively for Triway.
Anyway, I got no direct clear answer on what will happen to the A-shares.
I asked "Tyler Durden" if he was aware that there was a poster who posted on iHub with his nick. He was not happy at all about someone stealing his nick and declined to have any involvement with this "entity".
No, during the period when they extinguished debt with shares before 2015, they canceled some of their own share has compensation towards the other shareholder who where very upset. It’s all in the SEC filings.
https://www.sec.gov/cgi-bin/own-disp?action=getissuer&CIK=0001488419
I trust no one and my self only 50%
You can never be sure about any company or persons intentions. It all boils down to how much risk you are willing to take. The more you know, the less risk you are taking.