is Loving China.. considering learning Mandarian
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You might just become my new best online friend lol!
Kiss of death?
Thanks.. you must have known what I was going to ask next lol..
I twitted SIAF at $.13 lol
http://twitter.com/ccsykes
but I don't use it much at all.. this board keeps me busy enough.
You don't live near Beijing do ya?
Got a lot of eyes on it now, most likely due to Thestreet article published today.
There is a good chance your right lol..
But the good news is.. if it pulls back.. you can bet many will be buying it back.. and increasing their total position :)
One thing I noticed..
We have progressed beyond the regular Ihub crowd now.. that is certainly a relief.
Huge two year break out on tremendous volume, big trades.. and we only gained a couple of board marks..
Gentlemen, we have real investors flooding in now.. good riddance Ihub penny flippers..
Roger that..
The CEO told me most cattle operations in China consisted of free range cattle eating whatever was growing around them. That because most cattle are raised by poor farmers, there has never really been much of an industry.
The idea here is to utilize farmer co-ops so that the farmers can be subsidized with fertilizer/feed in return for the cattle.
The farmers make more money than they would otherwise, and the company reduces it's costs and overhead.
I think ultimately that is what got the Government interested. It is not so much ground breaking technology.. it is just that in China they do things like they are still in the stone age.
Like in the presentation, Jim Rogers said it best.. China Ag was a "wreck".
haha.. Hell I'll fly down to China at my own expense and deliver a days worth if the stock keeps climbing lol!!
Come over to the dark side..
Go ahead.. be unpatriotic and embrace the fact that the U.S. will be making toys for China in the not so distant future.
Well I don't think Sanjing would be partnered with a little stinky pinky if it wasn't.. That was the government (officials from Haungyuan) doing the talking was it not? That technology is what SIAF holds ownership of btw..
I knew most of what was in the video after speaking with the CEO.. but I had not had very many other third party accounts..
Ugh, I hate FEED!
I officially now hate FEED lol..
Took a sizable position at around $4.42, when the rally failed to sustain I bailed out at $4.44 thinking it would fizzle like it always does..
Dang thing is now $4.54 and HOD..
SIAF -So after listening to the video, would your view be it's pretty significant.. lol..
I already know about the technology quite well (been a shareholder for almost a year now)
Just curious what an outsiders perspective was over the press conference.
SIAF.. the scoop..
There are a number of reasons why the company is not on the OTCBB, none of which were the Company's making.
First, Belmont Partners put them into a "piggy back" shell. It is not really a pinksheet per say, it was a mineral rights company formed in the 70's that traded on the Spokane OTC (which eventually merged into the "pinksheets") Basically it wass kind of like a shelf company with a ticker and free trading stock.
Belmont provided the auditor and transfer agent to bring the company current and utilize its "piggy back" status to obtain quotation on the OTCBB.
If a security is delisted from The New York Stock Exchange or from the American Stock Exchange, then the usual Form 211 filing and review process will apply. However, some exchange-listed securities are already quoted in the Pink Quote system on an unpriced basis. This provides the market maker with an exemption to filing a Form 211 in the event the security is delisted from the Exchange. In this case, any market maker that had been quoting the security in the Pink Quote system for the 30 days prior to delisting could continue to make a market in the Pink Quote system upon delisting. The security generally becomes "piggy-back qualified" the same day it is delisted and any other market maker can then publish quotes in the Pink Quote system without first submitting a Form 211 to FINRA. To find out if an Exchange-listed security is being quoted on the Pink Quote system concurrently, please call Pink OTC Markets' Issuer Services Department at 212-896-4420 or email us at issuerservices@pinkotc.com.
The auditor ultimately is where the delay came about. IMHO (and I have complained to the CEO as such) The current auditor was simply not up to task to handle the needs of SIAF. They are simply to small and do not have the resources to handle a Chinese company.
The biggest delay was caused by the valuation of the Land bank. In China, they recently discontinued the practice of valuing land at a set price across the country. They determined that some areas were in fact worth more and moved towards a provincial valuation system. Because the auditor is not large enough, or has the proper experience, they refused to take into account this new valuation model and instead relied on a more basic form of valuation provided by GAAP. In other words they were lazy.
This killed over $0.30 of book value over what the China affiliates were showing. Like any good CEO.. he fought with the auditor over this valuation.
After much expense and effort, the company finally caved into the auditor and book was reduced from around $1.30 to the audited $.89 in 2007. You will see this reduction on the audit as a "impairment loss on goodwill", $6.8M worth in 2007 and $19.6M in 2006.
That was a substantial chunk out of both the assets and earnings because the impairment affected EPS as well.
I hope this clears some things up. The 2006-2007 audit is very informative. I fortunately have a sister in law who just happens to be a SOX/PCAOB auditor so I have learned how to pick apart financials quite well.. and it can be a very huge edge when conducting DD.. as was the case with SIAF..
You ever get a chance to look at that video (SIAF?)
Still curious what all was said..
Simply put their revenue will pretty much double continuously over the next 2-3 years. For those who have made Agriculture their niche, the business plan is relatively easy to understand.
The biggest driving factor IMHO is the JV with SanJing. They have government support in becoming the largest producer and distributor of beef in China.. and the dairy is expected to expand exponentially. 40% of the project is basically owned by the China government.. they don't like to loose..
Hope that helps... also.. doesn't hurt having a small available float ( about 2.5M )
You need to quit thinking in terms of pinksheet..
Little over 10M is held by non-affiliate's who participated in the initial funding/merger. They are in around $2.60 a share.
It is all in the 2006-2007 audit..
CEO says they have no intention of selling for a loss lol. The liquidity has attracted day traders, so I don't suspect we will see anymore low volume surges.
About 2.5M
Yeah I missed that one entirely.. was to fixated on SIAF lol!!
He appears to be a non-issue now.
This volume doesn't look like just retail anymore..
FEED added $4.42, $4.43 breaking out now
SIAF Charts and theStreet coverage
Multi ticker coverage, across a couple popular stocks.
http://www.thestreet.com/story/10651763/1/china-stocks-for-the-holidays-part-3.html
That's actually an interesting find.. will take a peak..
Look what I caught across the TSTC ticker (in my watch list)
http://www.thestreet.com/story/10651763/1/china-stocks-for-the-holidays-part-3.html
I don't think the MM's have much to do with it. I've routed various different MM's and my ECN does it instantly so looks to me like they are mostly on auto pilot.
I don't really see a gap. If your talking about the open on the 15th, in my book I don't see that as a gap because on the 2nd we had a high of $.949. You have to make certain exceptions for a thinly traded stock.
Technically $1.08 should be our support.. but with the number of retail that has jumped in lately and the patience factor involved with this stock... I'm going to wait and see if it breaks and causes an out flood of retail.
So far it looks to be holding though. I still have plenty of "tickets" so I'm not going to miss any train or party by any means lol.
I am starting to place some of my free cash under FEED now though. This bottom on low volume is interesting me.
I pulled my support now that the amateur retail bid whackers showed up. I'll come back and clean up the mess when they are done.
FEED nibbling at $4.40
Hmm he didn't have much.. maybe scare tactics now..
Yep, always a pain in the ass.
I wonder if us folks that have been here as long as we have qualify for a free ticket lol!!
They don't seem to have problem with being a pink lol.. your point?
Yes it certainly would.. it would truly be a first. I'm not much of an adventurist, I've learned to avert risk and one of the ways I do that is to avoid what certainly appears to be impossible.
but there are some things happening here which would surprise even you if you cared to look
Nothing surprises me in the pinks anymore.
Actually I stuck my head in here because it was on the Ihub #1 and that is the honest to god truth. No conspiracy theories.. I was just curious what the hoopla was about
When I stuck my head in here I saw Recognizer.. and wondered to myself.. Whats Rec like about this company..
I looked at that one PR about the funding and chuckled.. and here we are now..
I'm a professional investor/trader, I don't dwell on what I may or may not have missed out on. Hindsight doesn't make me any money.
All the players involved can make a hell of a lot more money with millions of shares of stock when these deals come together...literally overnight.
I'm sure they will lol! Looking at the chart.. looks like they have already started