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You would think after Solly hurt so may investors he would be in jail. Got to love the justice system in China
So haven't visited here for a while and have completely sole and earned a hard lesson. The only thing that amazes me is that (1) this crap is still listed and trading and (2) Solly hasn't died. Otherwise it looks like nothing has changed.
Is Solly still involved in this calamity?
Peter is going to end up looking foolish just like Garrett. It's a shame because these gentlemen are decent chaps. A lesson learn not to deal with egomaniacs, liars and poor businessmen.
Fussy we have been about 100 times. It's not a lottery ticket. It's a loss cause until Solomon is removed or goes away by natural causes. He will do everything to maintain control. He failed on his farm to plate concept, he failed on the MegaFarm. He can't even make a profit on historical assets. He stinks as a businessman because he makes decisions that favor himself and not for the benefit of the company nor the shareholders. He's a fraud who suckers so-called intelligent people to give him money to hang on for another day. I don't know how he sleeps at night.
Step up Peter Halesworth, you are the 2021 Sucker of the Year, taken in by our miserable CEO. Building Value Peter? Ask the other "smart" investors that have been taken by this idiot. CFO, no.. New Board Members, no... what a waste of time. Smoke on Solly that is our only hope.
RD, haven't followed this one for a while. Why is this breaking out?
thanks
RD if this stock ever goes dark I will never know if you are still alive, with Solly we can expect a slow decline so at least we will have years yet to communicate :)
Solly's the best. Looks like he conned another sucker. Will they ever learn? I don't know who is a better con man Trump or Solly?
Let's just hope this new director has some cajones and doesn't fall for the same old promises and rosy projections from Solomon. This is not the good old boy club anymore. We need a set of objectives by when and how. If Solomon fails he loses his A Shares, If he fails again he is off the Board and no longer the CEO. I think we shareholders have had enough of the "leadership" skills of Mr. Lee.
Let's give the new guy a chance. Let's hope he can knock some sense into Solly. I believe there is another opening for a Board Member; We should see an announcement about that one soon also. Look at the bright side, could it be worse than letting Solly calling all the shots?
Peter Halesworth do you intend to do anything like you said you would or have been fooled just like the rest of the intelligent investors by Solly, the Master of Disaster.
Yes it seems are new "partners" are off to a fast start. Who could blame anyone for not wanting to be involved with Solomon.
Something tells me our new "partners" are having trouble finding decent board members and a decent CFO. I guess working with Solly for a crappy stock compensation doesn't cut it for most.
Fredly should be on the Board for no other reason to watch and babysit Solomon. Solomon actually should be off the board for his incompetence.
I will only get jazzed when they get Solomon out of the fricken company or at least neutered so he doesn't have voting control. Again I will believe it when I see it.
You really have to wonder what Peter Halesworth sees what all of us and many other intelligent investors like Garrett failed to see. The only thing I know for sure after all these years is Solomon absolutely can not be trusted. Not gaining control of the company is just going to make life miserable for Mr. Halesworth. Solomon will just promise and delay, promise and delay until Halesoworth goes away after spending time and money. It really is no Settlement with Solomon retaining the A shares.
Judge indicated that company is cash starved. Wonder who is going to lend the company funds with the idiot Solly still around and still retaining voting control. Judge should have mandated removal of Solly's voting control. That he is still around disgusts me.
I think she was Chief Accounting Officer not CFO. The CFO was a European guy who lasted a year at most. Nobody can work with Solomon. This CFO should report to the two independent directors so he can give them the straight scoop without fear of retribution. Solomon at this point needs to be put in a straight jacket surrounded by packs of cigarettes to give him something to do.
Let's hope the new CFO is not related to Solly.
Down the Hatch, the fact that Solomon will consider turning in his A shares is worthless as he is. He will never give up control. Our only hope is that he increases his smoking.
I'm beginning to agree with the gentlemen that objected to the merits of the lawsuit... specifically because it looks like the plaintiffs will get more than us and (2) and this is the big one, Solly on has to consider to give up his A shares.. we all know he won't and if he has control nothing good will happen.
Yes I remember the days he told us the value was there only the market has to recognize it. Guess the market must have been sleeping all those years or Solly diluted the hell out the value. Gee hard to figure out.
A huge spike would happen is Solomon left the company and sold his shares.
The objecting shareholder is making some pretty compelling arguments. The biggest boils down to you can't trust Solomon to do anything he says or puts down on a piece of paper.. who could argue with that.
Well I gather if SIAF was a total disaster Heng Ren would have not wasted their time, due diligence and investment. Doesn't change my opinion though the quicker Solly exits this company the better. He should have no say in the business going forward, he is totally incompetent.
Better question why isn't Solly in jail. Isn't it a crime to file false financial statements???
For sure the Plaintiffs have an uphill battle but the only way they can succeed if getting Solomon out of the company. Nobody will fund this company with him in it. Again this is a lottery ticket. Many have tried to turn this around but nobody could. The common road block is Solomon. If he is out they have a chance.
The most positive PR we could get is the appointment of the new Board Members and the resignation and removal of Lee as a Board Member, Officer and Employee. The sooner he is out of the company the better.
Snow,
My understanding from Tony is that he really has not been involved with the company for some time (as I indicated). I gather he hears things through investors and others he had relationships at the Company. I believe he is owed unpaid salary so there might be some friction between him and Solomon. It appears the Megafarm is shut down although there might be some leasing to third parties. The emphasis on operations appears to be in the Trading Division. Tony didn't mention the other farms but that doesn't mean they are not operating just that either Tony doesn't know or just didn't mention it to me. Hope that clears it up.
I agree with others however, that as long as Solomon is controlled and his hands are tied there is a lottery chance here in this stock. People are owed money so this might take time. I hope the new "partners" act quickly to right the ship, push Solly aside and make decisions that are for the benefit of all shareholders. As long as Solly is in control this is going no where.
I was referring to the new MegaFarm, I don't know what is going on with the smaller "historical" farms. My understanding is the majority of activity and income is all coming from the trading activities.
waiting for Solly to die... yes to cut to the chase that would be the big win unless somehow he willed his shares to an equally incompetent idiot.
Exchanged messages with Tony. He is no longer actively involved with the Company and in fact has been in Hawaii for the last two years. He has limited to no contact with Solly and the MegaFarm to his knowledge is virtually shut down. Operations are basically supported by the Trading Division as we know. It is what it is..
My hope is Solly continues to smoke 5 packs a day.
Martin the same reason Garrett thought he was getting a super deal, Solomon is an excellent crook. Why the hell did they agree to a settlement without gaining control is beyond me.
Hatch, that is and has been the million dollar question, if, if and if. However the company is lead by a crackpot who is irrational. He cares not about shareholder value only that he keeps control of the company. If shareholder value and his control align we are good, if not we are going to lose as we have in the past. That is and will be the lesson from the past and the future. Fredly should have not signed a settlement agreement that allowed Solomon to retain control. He will soon learn what Garrett and others have learned.
Then my advice was the same as yesterday. Pick a goal. What bills do you need to pay off, what item (within reason) do you desire but don't have the money for, or what buffer of cash would give you some peace of mind. When you are there get out because this one always ends in tears. Solly always destroys his partners. Arny is going to learn the hard way just like everyone else. Shame but Solly is not an ethical guy.
Handl, if you bought 4 million shares you don't need us to tell you what to do, in fact you shouldn't be on this board. All I could advise you to do is not to be greedy and walk away. Solly is not on our side that is for damn sure.
HA! Come on girls, has anything been kosher with this company. The only reason I play the trade is you know that both both sides don't trust the other and will pull a fast one when they need to. The only thing I know for certain is that Solly will never give up control. For now he hasn't delivered an operation report like he said he would because he is pulling the strings on something else, just wait and see.
Nordstrom, didn't Garrett and other smart folks make visits to the "Operations" before getting involved. Don't be lulled into who is involved. There is only one knuckle-head running and controlling this business and he has proved it time and time again. If you can't rip the A shares out of Solly's incompetent hands this is all hot air again. The symbol for this stock should be: SNGC (Solly No Give Control)