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Yes.Unfortunately still diluting and probably @ much less than 55c/share.
Iliad have began doing the same thing with other Chinese companies.
https://www.sec.gov/Archives/edgar/data/819926/000156761919000931/doc1.htm
We also need to know whether they paid the Merkur fine or when they plan to do so.
In the case of ECAB the shares they could have acquired was correctly added to the then O/S before calculating their % of 15.39.
In this case they calculated it without adding.
https://www.sec.gov/Archives/edgar/data/1488419/000114420416092185/v435564_sc13d.htm
They have these shares either reserved or already registered to them.
Otherwise if they were extra shares it would not be 9.9% but less.
However in that case where did these shares appear from?Who owned them previously or currently?
Yes.Would explain cash Solomon has lately not needing to dilute like before, has not come from cash flow like we hoped.
And the 55c conversion lie that lasted about a year ends with probably fraction of current price share selling.
Heading towards zero if this is a convertible like the usual ones on the OTC.At least those companies don't pretend that they are half a billion operations.
Let's see how they report this in Norway next week.
Nice to see that KCSA is no longer mentioned in the PR.
Talking in general about cash with which we would never drop to 10c let alone below multi-dollars, that was exchanged for a certain % of a company that might begin trading in HK in 2020.
So they indeed are in the board of directors and getting paid.
We should get some filings soon I think.
So you met the new chairman Li Yong, Robert Cardinal and Chen Eric Christopher?
Who is paying their salaries?
Do they plan any filings?
First time I hear scams that need ‘management teams’ and who are prepared to meet 6x with investors.
You mean you talked with some of those mentioned in the last 8-k 1.5 years ago?
KCSA sacked by billionaire CEO just days after been hired.
Solomon pays those clowns for years now doing nothing.
https://finance.yahoo.com/news/reliance-global-group-inc-disengages-144500234.html
Unbelievable how investors in the rest of the Chinese sector have given up on almost all of the listed stocks over the last couple of weeks.
They apparently have had enough just like SIAF shareholders.
Very soon quite a few CEO's will have to prove if they are not frauds, if their cash is real or if they really care about foreign shareholders.
I guess when you are heading fast towards zero the excuses and arguments against dividends/buybacks weaken,get thrashed and beyond non-believable & ridiculous.
I think he did his DD alright and then despite the profits there was no cash, just receivables-investments-inventory.
After 4 years he has had enough cause despite falling sales there is still no cash.TRW partners are not paying, all the receivables at the abattoir went to Bad Debt!!! without explanation and why there would be no attempt to recover them.
In 2018 it seems no progress with the rest of the receivables either and on top of that Dilution!
Ok.I didn't see that.But still for 55c!
I would have some sympathy for Solomon if it didn’t pass from his mind to pay at least 1c dividend.
But I don’t believe it.So when after a couple of weeks after he said ‘we still plan to pay the dividend’ he does not at least pay 1 or 2 cents but 0, then I can’t see what positive we can still expect and when.
Have you reported to the Sec the famous PR from last year after which there was a big spike in the shareprice.
In the end there was no buyback or dividend on the agenta because of course there was no AGM.
https://www.otcmarkets.com/stock/SIAF/news/Sino-Agro-Food-Inc-schedules-2017-Annual-General-Meeting-Agenda-Items-Include-Dividend-and-Share-Buyback?id=171770
The company said later that the PR was sent by mistake but there was never an announcement the following days or ever to tell shareholders that.
You should also report to Oslo that they issued another 500,000 without reporting them(in case they don’t).
Of course Solomon may have decided that he will not pay the fine(does he have the cash anyway?) so he is ready for the inevitable outcome of been kicked out.
The problem is that they advertise that they are a family owned business too much so it might not be them.
It is on Facebook too.Could mean nothing.Just a company they are buying things from.But they have been promoting cabinets especially from this manufacturer a lot last few days.
https://m.facebook.com/SilexInteriorsOfficial/
Another Tweet promoting Woodland increasing probability it has been acquired.
Exactly.It was just profits,profits,profits and receivables,receivables and investments and promises about cash flow positivity round the corner and dividends or buybacks.And we are talking years and years here not just a few quarters.
You forget the probability of a business model that in the end could only end one way.
Selling with no quarantees that you will ever be paid back.
NOBODY WILL EVER PAY YOU BACK IF HE DOESN’T HAVE TO.
Even banks with quarantees when they give loans, lose a lot of money because of bad debt and some go bankrupt.
Agree.Even that is not happening at 11c!
We are talking about possibly $1M or so for a start.But his main concern I’m sure is ‘What!No more dilution and free money even for 10c/share?’
Another week with no news, no updates and no PR about the 10-K and what those 70M shares for $70,000 was all about.Disappointing.
Who knows how many things need to stay hidden, thus he cannot do that.
In the meantime is 10c low enough to justify a buyback program or not yet?
Is Solomon happy with the 30,000 he made for the extra 300,000 he issued yesterday?
What difference is it going to make 30,000?
And the icing on the cake, another 300,000 shares issued.
Unbelievable stuff.
Didn’t you talk again like so many times before about ‘Total Belief&Faith in Audited Accounts and Filings’?
Even if you ignore that a couple of auditors and CFO’s resigned, there are corrupt auditors and accountants too.
As I mentioned before you can take a brief look at what happened with ANW.
I was just guessing.Do you know anything more?
Are there still people who insist that we should say nothing bad about Mr. Daniel Ritchey cause he is now dead?
Some cancer treatments cost huge amounts of money and you cannot afford to lose your high paying job in order to get them and have some hope.
Hope SIAF does not end up like ANW.The CEO had on the board of directors just friends.The small investors managed in the end to appoint one of them to the board.And a $200M hole in the Balance Sheet was discovered.ANW CEO now Wanted by US Authorities.
On Sep 26 they announced an MOU with a mid-west cabinet manufacturer.
Today they tweeted and published on Facebook that Woodland Cabinetry is here!!!
They are a South Dakota manufacturer family owned.Could be great development if it is the company they acquired.
But again Ron needs to spend more time keeping shareholders updated on how the already announced plans are going.
They give an explanation that the stock was for stock purchase and perhaps the $0.001 was symbolic.
But what did they acquire back in May.Is it an acquisition in the Environmental department that went wrong or has not yet been concluded?
When they issue 70M shares for just $0.001, we have been wondering for half a year why is anybody selling this stock for $0.005!
How can you issue stock at a twentieth of what the buyer paid just 3 months earlier?
Hope we get some satisfactory answers soon.