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NJM... Can you summarize what the settlement means to us long suffering shareholders?
Thanks
From OAN yesterday,"Top advisers also have urged the president (Trump) to delist Chinese companies that trade on U.S. exchanges and fail to meet U.S. auditing requirements by January 2022." I don't think SIAF meets the requirements.
Thanks RD for your post. I was beginning to wonder what happened to you.
"I have a long way up to break even"
I hear you brother, I'm in the same boat. Funny, I only bought SIAF cuz i like shrimp. LOL
NJM, nice to visit this board again after several years of absence. Can SIAF go several times higher than 50 cents? Is this a bonafide bounce that investors should take note of, or is this something that will be short-lived and by next week well see the mid 20's again?
Still, it's nice to see so many old timers still hanging on. Not sure why I kept my shares after all these years. I guess I'm holding out that Solomon will come to his senses. I'm assuming he's still running the show. I really only follow it a couple of times per month.
NewJ, doesn't a company have to publicly disclose that they are buying back shares, either before or after the transaction?
Snow, you wouldn't mind sharing the name of the American company ?
Quite honestly i can't remember the last time they posted the financials without having to issue a late notice.
down is one of the few people in this room making any sense. A law suit at this point would only complicate matters.
Natural Shrimp Inc. is WAY UP today. 30+ %
SHMP
BY LANCE MURRAY • JAN 18, 2019
Dallas-based NaturalShrimp Inc. said the joint patent for the first commercially viable system for growing aquatic species indoors it recently announced, isn’t just for shrimp, but for the propagation of all fish.
The patent also covers aquatic arthropods such as lobsters and mollusks, such as oysters and clams, NaturalShrimp said in a release.
The company is near bringing the technology to market, it said in the release.
Hong Kong-Zhuhai bridge: World's longest sea bridge, the 55km bridge and tunnel linking Hong Kong to mainland China via Macau is set to open, years late.
https://www.bbc.com/news/world-asia-china-43779631
totally agree... You should add that the promise build-out of the mega farm will not likely occur within the next 5 years. They don't even have the financing in place. Although its hard to blame the lenders given how these clowns run the existing business.
Well at least they'll have money to run the company
GUANGZHOU, China (AP) _ Sino Agro Food Inc. (SIAF) on Tuesday reported second-quarter net income of $898,000.
The Guangzhou, China-based company said it had net income of 2 cents per share.
The engineering and consulting company posted revenue of $34 million in the period.
In the final minutes of trading on Tuesday, the company's shares hit 29 cents. A year ago, they were trading at $2.25.
RD, do you see anything positive in the Q2 report? Looking at cash flow I just don't know how that hell they are going to pay a dividend.
Good news, at least they can't go under so long as they issue more shares. Kind of reminds me of Venezuela.
Financials have not been reported yet i see. Sigh
SIAF is taking a beating today. BTW happy birthday to RD!!!
A little birdie told me
What day can we expect that they will announce a "Late Filing Notice"
Does anyone have predictions about how much SIAF lost in Q2?
Zuckerberg and Solomon Lee, what do they have in common?
BERT22, people have been posting we are at the bottom. We hit $0.31 3-27-18 which is nearly 4 months ago. In the scheme of things thats a long time.
RD, I would appreciate it if you didn't post Solomon's photo on this board as the mere sight of this man induces gastric pain for many of us shareholders. Thank you
"last resort".. LOL. I guess we'll see about that one as it always seems to be the first resort with this group. As far as the MF loan goes I would bet any amount of money that its dead unless they get a partner like CP foods. I mean the company has a lot of things going for it such as the land, technology, close proximity to major population centers (HK, Schenzen, etc.) and I guess that's why i'm holding out for some kind of turnaround. As far as dividends go I was against it for along time as I would much rather see some kind of buy back program but it just doesn't seem to be in the cards at this time.
As a result of ECOVIS HK’s resignation, on June 29, 2018, the Company appointed ZHEN HUI CPA ("ZHCPA") as its new independent registered public accounting firm.
ZHCPA provides a range of auditing services conducted under U.S. GAAP, IFRS, and Chinese accounting standards. ZHCPA is registered with the Public Company Accounting Oversight Board (PCAOB), the Hong Kong Institute of Certified Public Accountants (HKICPA), and the Chartered Accountants in England and Wales (ICAEW). Further information regarding ZHCPA can be accessed via the web at http://zhenhuicpa.com
Per their June 2018 press release:
"Since 30 September 2017 the Company has not
issued any additional collateral shares or top-up shares.
The total number of common shares in issue is 33,184,250."
Well that's a f...ing relief.
Jeez RD, I mentioned on this site that CP Foods should take up an interest or even partner with SIAF well over 2 years ago and no one took me seriously. This would be a perfect fit for them. BTW, I saw this on Wikepedia
It owns controlling stakes in Charoen Pokphand Foods (CPF), the world's largest producer of feed, shrimp, and a global top three producer of poultry, pork, among other agricultural produces. It also operates Southeast Asia's largest retail business by revenue, with over 10,000 Seven Eleven stores and a leading cash and carry business through Siam Makro .
With some 200 business subsidiaries in Mainland China, CP Group is known in China as "Chia Tai". When China opened up its economy in 1978, the CP Group was the very first foreign investor in the country and became the first foreign company registered in the special economic zone of Shenzhen, Guangdong. The company is the single largest investor in Mainland China today commanding over fifth of China's entire feed meal market. The corporate registration number was "0001." Through its extensive investments, CP Group has been credited with changing the country's dietary habits and leading China's green revolution.
Why would anyone in their right mind buy shares in this company? It's been trending downward for years now and Solomon has no problem financing the company by issuing more shares. TRW divies you say? Are you kidding me - I don't think so.
I've been away for awhile but looking at the SP i'm assuming we didn't get the loan.
What is the share count up to these days? I really hate to look at this company's financials anymore. Solomon makes me sick
RD, two things regarding SIAF and Mega Farm (Trw)
1. Aren't we suppose to receive some form of ownership for Triway?
(stock - 36.6%) and when will we receive it.
2. Can you update me on the MF loan. Thanks, sorry to bother you as I don't follow it very closely anymore thanks to f....ng solomon