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I can forecast any amount of revenue so long as I get the financing to build the company. Oops, I didn't get the financing. Now what?
I had similar thoughts especially on the "transition year" statement. Seems as if they're always shooting from the hip.
I hope they have some contingency plan if the MF loan doesn't pan out. Maybe taking on a partner with deep pockets.
Hey snow what does KCSA communications do besides cash our checks?
Is it true they have to issues shares to pay their utility bills?
Market cap less than 10 m
I love reading the back-and-forth between RD and Joe, Zero and a few others. It's very enlightening.
10-k last year was posted on March 16. Here we are on March 26 and no posting. Did I miss something?
Muddy Waters or Solomon Lee - Question: Who's better at wiping out shareholder value?
RD, the projections for Seafood sold posted above on this board for the TRI-WAY AquaGroup;
2016 - 10,284 MT
2017 - 21,256 MT
2018 - 54,467 MT
How close will we get to the 54,467 MT for 2018?
SIAF Facebook: "The boiler will be completed by the beginning of the upcoming growing season, allowing perhaps an early start to stocking of the indoor tanks. It will be fully operational for the 2019 winter months, allowing year-round production starting in March or April of 2018."
Ks1977, thinking about a regular cash dividend is fantasy at this point. They keep issuing more shares. I think the loan for the mega farm is toast.
Time to be let down any day now. When will they be posting the year end numbers?
This company has serious cash flow problems but on the other hand the recent issuing of shares could be for employees as the result of a new year's bonus. I think a dividend or buy back is just a fantasy at this stage. Maybe in a year.
The wording from 2017 and 2018:
Quote:
March 17, 2017. Sino Agro Food Inc. reports that it issued an
aggregate of 1,270,000 shares of common stock as security for finance
raised. As a result, there are now 22,726,859 shares of common stock
issued and outstanding.
Quote:
May 18, 2017. Sino Agro Food Inc. reports that it issued an
aggregate of 1,267,340 shares of common stock as security
for finance raised as reported in the first quarter 2017
earnings announcement and 10-Q filing released May 15, 2017.
The additional shares were utilized to
secure/underwrite a loan on behalf of Triway from a third-
party lender based at USD 4.10 per share with a maturity
term of three-years and no pre-payment penalty throughout
the term of the loan.As a result, there are now 22,726,859
shares of common stock issued and outstanding.
Quote:
July 25, 2017. Sino Agro Food Inc. reports that it issued an
aggregate of 1,690,699 shares of common stock as security for finance
raised. As a result, there are now 25,684,898 shares of common stock
issued and outstanding.
Quote:
February 5, 2018. Sino Agro Food Inc. reports that it issued an aggregate of 5,524,255 shares of common stock as (1) additional collateralized shares for trade facilities, (2) as payment for services to chinese parties, (3) as incentive shares for staff, workers and personnel renumeration.
As a result, There are now 31,209,153 shares of common stock issued and outstanding.
Quote:
February 23, 2018. Sino Agro Food Inc. reports that it issued an aggregate of 72,451 shares of common stock.
As a result, There are now 31,281,604 shares of common stock issued and outstanding.
Quote:
February 26, 2018. Sino Agro Food Inc. reports that it issued an aggregate of 387,635 shares of common stock. The new shares have been validly issued and are fully paid up. As a result, There are now 31,669,239 shares of common stock issued and outstanding.
Quote:
March 12, 2018. Sino Agro Food Inc. reports that it issued an aggregate of 125,000 shares of common stock. The new shares have been validly issued and are fully paid up. As a result, There are now 31,794,239 shares of common stock issued and outstanding.
China's president is now president for life !!! China has approved the removal of term limits for its leader, in a move that effectively allows Xi Jinping to remain as president for life.
Sound familiar ?
Well if you're taking a vote - divy vs. buybacks, put me in the Buyback camp.
Great post Prometheus11. I hope you don't mind but I thought I would re-post it for those who may have overlooked it or not bother to read it. Cheers!
Just more happy talk from management. Nothing of real substance that I could tell.
https://globenewswire.com/news-release/2018/02/27/1396399/0/en/Continued-Progress-into-the-Year-of-the-Earth-Dog-for-Sino-Agro-Food-Inc.html
Another month has gone by and no word about the LOAN
MOFO
Banks are waiting on last 3 years of W-2's. Not surprised since they didn't even install a boiler.
Will MF loan be approved this year?
Is there any hope of getting a loan for the MF ?
Phase 1 of MF is NOT complete since a boiler was not installed. I'm not sure if they ever mentioned in their documents that Phase 1 was completed or not but if they did then that could be grounds for a legal complaint.
Good point, I maybe stating the obvious but when they announce loan approval for the MF it might be wise to buy as much as you can stomach.
I bought some awhile back at 1.30 thinking that the loan announcement was any day. I've learned my lesson so I will wait to buy after they announce. Just my 2 cents.
PS... I bet Joe and Zero are buying today
Thanks for posting Dan's response.
RD, lucky l and you posted the following comments from Dan at SIAF
Nice post jyyoo, you seem to know quite a bit about the company unlike ZERO who can't back up his comments with facts. I don't think even RD knew about the offer that TONY was made to take over operations.
HEY PETER, I know you read this board so please get on the phone or email mgt and ask them that they need to make some kind of public statement in order to regain market confidence. Otherwise what good are you to us shareholders and the company. BS
Hey RD, didn't that appraiser estimate the value of the MF at $330M about a year ago or maybe longer. If that's the case than SIAF should be at least $4 given that they own 36.6% and the o/s count is near 30M.
I've been to Hong Kong during Xmas and quite honestly it wasn't that cold. It rained a lot but it was never near freezing. Maybe they don't even need a boiler given the MF location across the river from HK. But I'm not an expert in fish farming so what the hell do I know.
No boiler = tanking share price
Does the company have enough money for the filtering system, the water pumps, monthly electrical bill, and paying their employees? Just wondering, since they can't afford a water heater. Hard to believe that with all the millions in revenue the price of a boiler is out of reach.
Phoenike, what is the current o/s count?