Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Countdown gone.Adding a max of 30 days before launch but who can trust them now.
Added a new member to their team.He was the CEO of a company that has been revoked!
Otherwise he seems to have vast experience in financing and the stock markets.
At 30c it is almost impossible to raise the dividend by issuing shares.
There was probably somebody who was stupid enough to keep buying shares around 40c and perhaps still does at 30c.But if Solomon thinks that he can raise the $5M he talked about at the CC by issuing shares, thinking perhaps with Dan, that the dividend would guarantee some kind of minimum price, he will probably be bitterly disappointed.
OTC shows just 140,000 increase in O/S.I think that number is sometimes one day late.
As the price keeps going down the story of creditors accepting a fraction of 55c they are owed is starting to look more and more suspect.Why are they accepting such loses?Are they worried that they might lose their money and why?
It would make sense if it was for a 15-20% discount.Now we are looking at 50%!
Iosoft have updated their webpage, with the 3 streams of revenue section.
Also they say now that their offices are at one of the Silex locations and not at A&G.
https://www.iosoftmkt.com/
We should know soon enough.In case the shareprice goes much lower and they keep printing then it will not be making much sense especially with the dividends having to be paid to such shares soon.
Already it is hard to understand how someone who is owed 55c accepts close to half that money.
Tony has posted something.
http://www.sinoagrofood.com/science/research/new_l-vannamei-research-af4.html
Would be sad if they start diluting again.
Especially if they stopped for 3 weeks hoping for a higher price before doing so and then going for it even at 34c!
Could mean still not much progress with the cash flow situation.
The O/S is now at 296,230,654 up by about 20M.
Hopefully it is for one of their recent contracts and not for cash even though the new shares are unrestricted.
We did not have heavy selling lately so perhaps the shares went to one of the partners.Also no disclosure for confirming that it was for cash.We had a similar increase a few months ago too that was not for cash.
They just need to stop dilution here.
But unless the new shares are not used for needed cash, I guess their current operations are not going very well.
Aren’t they HK based?
I don’t think they can lie about something that can be easily verified.
However it is possible that SIAF was their only US based client so the use of the word “all” would be kind of misleading.
When you expect some good news you usually get bad news with this company.
At least let’s hope dilution has stopped for the time being.
You still din’t understand that to be the 2nd Turkish company trading in the US they have to move their Head Office to Turkey.
It simply cannot be done from the Turkish part of Cyprus.
RD, Can you explain what difference the pessimism or optimism of small shareholders can make?
The sad thing is that Solomon didn’t even bother to resssure investors that in no way is he going to dilute in case the shareprice falls below a certain price.
So in case we fall to 20c he still goes ahead and issues 25M shares diluting almost 100% for $5M and if you take into account the dividends for about $1M?
Do they plan to clarify what they are planning based on cash flow predictions over the next few months?
In case those $5M are on top of these shares issued for 55c and they cannot get those from loans or cash flow, we will be talking about at least 15 million more shares but most probably many more because we will be close to 15c if they are indeed prepared to take such action.
Somebody stupid was buying much higher than he had to, perhaps having not listened to the CC, thus accelerating the dilution process.
Still not easy to understand how someone owed 55c accepts 40c, previously 30c and who knows soon how much less.
Here they are talking about a much more believable figure of $18M in loans not the billions they talk about elsewhere.
https://yusufkisakibris.com/2018/05/23/yusuf-kisa-praised-for-his-financial-services-to-businesses-across-the-middle-east/
I think those offices are not official or run by the parent companies.
Guess must be some company in the North who then send them to Turkey and from their by DHL or TNT to their destination.
Not true.Only the Turkish Cypriots who are now a minority have these rights.
Otherwise every Turkish citizen would want to go live there and from there to Europe.There are over 200,000 Turkish immigrants in the North now but they are not even allowed to travel to the south.
Nissan,Mercedes etc. are cars sold there coming from Turkey.
However there are no McDonalds,Starbucks,KFC,PizzaHut,Mobil etc.And as I told you.Try to send a registered letter to your friend Yusuf Monday morning and tell this board that you did it and there was no problem.
Obstacle Number 1.The SEC or Finra cannot post anything to their current headquarters.Either by normal post or DHL or FedEx etc.
Go to your local post office on Monday or to a courier and try to send them a registered letter.You will not be able to.
After they move their headquarters elsewhere then ok.It will be much different.
Translate this article.
http://www.milliyet.com.tr/gifa-dan-tunuslu-sirkete-11-milyon-euroluk-istanbul-yerelhaber-1660071/
Actually the more I think about it, it doesn't look so easy for this company to start saying they are not Northern Cyprus based.
That is where most of their businesses are and where they pay taxes.
Also remember all their developmental plans are illegal under international law, including their headquartered building, because they belong and they are the property of Greek Cypriots that had to leave them after the Turkish invasion in 1974.
There are already many cases taken to the European Court of Human Rights.
This was the first one and many more followed.
https://en.wikipedia.org/wiki/Loizidou_v._Turkey
What about the lie they have been spreading especially in the local press that they are a US listed company since last year?
Then they say that they give billions in loans but I have seen a couple of a few million.And they say in one of them that they charge just 3%!!!
What?Is this a charity organization?
But you have to give the address of your principal executive offices.
If they were to have any chance to be accepted, I think they have to move their head offices to Turkey or elsewhere or perhaps just say that they are not Northern Cyprus based and they just do business their like Turkcell.
There may have found a solution to any obstacles and that is why they continue to persue the listing the recent name change as an example.
However they are obviously lying to everyone including the local press, when they boast that they are listed and trading in the US since last year.
Check Northern Cyprus in Wikipedia.
I thought they were also recognized by Pakistan but it says that it is just Turkey.
So far they may have made an agreement with FRFS and changed the name to GIFA as a Nevada company.
But what happens when they tell the details of where the operations of this Nevada corporation are located?
Obviously GIFA listed as a company in the US since last year is not true.
They could list if they were a Turkish company.
The problem here is that they try to list as a North Cyprus KKTC company.
How it will be possible I don’t know since the SEC cannot even send them a letter or any documents by post.
They will be communicating only by e-mails?
No national postage company including the USPS can deliver there since it is a non-recognized “state”.
Even if they were to manage to list for whatever reason as a KKTC company which I think is impossible, there will be a diplomatic issue between the USA and the only recognized government of the South and the SEC and FINRA will have to revoke their listing.
It is not Turkey.It is the occupied by Turkey northern part of Cyprus, a “state” recognized only by Turkey and Pakistan.
Another project completed by Silex.
https://www.facebook.com/SilexInteriorsOfficial/
O/S updated yesterday on the OTC site and still as it was at 276M.
Apparently they are doing much better cash flow wise until now this year.
However this company like SWRM is trying to be an expert and specialist in everything!
Since when have they got expertism and knowledge in growing trees?
Huge and very unexpected dilution yesterday.
We are now at over 40M 40,075,492.
Let’s see whoever is buying lately at around 40c will keep doing so.
Everyone knows by now that you cannot trust Solomon.
And the $2M figure for the whole of 2019 sounds too good to be true.
He mentions the $5M at 27:55 of the CC.Actually he says over $5M but the meaning is the same.
https://tv.streamfabriken.com/sino-agro-food-fy-2017
He said it at the Q&A section of the CC if I heard well.But listened 2-3 times to make sure.
Then he talked about just $2M in 2019 but that is also for shares going out as incentives or compensation too.
Yes they mentioned him in their last PR.
Just who is he and who else is in their management team, number of employees, a bit about their history and what exactly is their relationship with those four strategic partners?
That is the kind of information would be nice to see.
I think Solomon spoke about $5M needed this year from either cash flow,loans or dilution in that order of preference.
So a maximum of about 10M extra shares.Obviously the dividend is included in that sum.
But pretty impressive partners.Just who knows what kind of relationship they have with them.
And of course still no one knows who are the directors, where their offices are etc.
Wellben website finally updated to something a bit more respectable naming 4 strategic partners.
https://wellben.net/about-us
OTC must explain how it made its way into the ‘OTC Disclosure and News Service’.First time I see fake news making its way until there.