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Looks like it was fake news despite making its way into the OTC News section.
Still waiting for the transcript but I guess there will not be one this time.I think whoever tried to do it gave up when he realized that even the questions could not be heard clearly.
Perhaps I will try to listen to the numbers Solomon was giving regarding the continuation of dilution later today.
But I’m sure I heard about dilution plans even in 2019.
Another 168,000
Now 38,795,118.At least he told us what to expect.Dilution at least well into 2019.How can a company promise a dividend and at the same time saying they will keep issuing stock right through the dividend date and beyond at a small fraction of book, is beyond normal company policies.
After selling their share in a subsidiary for $4M they decide to issue about 200,000 just before the dividend announcement and who knows how many more until mid June.
So the dividend will cost them nothing.
Looks to have changed hands.New owner another crook?
https://www.thestar.com/business/2013/12/13/winick_family_has_often_run_afoul_of_the_law.html
Was waiting for transcript at SA to try to understand how much more dilution they are planning.
Solomon talked about numbers and something like 2 Million into 2019 if I heard well.
Anybody understood better what was said?
The funniest answer of all at the CC was Dan saying that they thought it would be better to go with the dividend than the buyback.
Why did he even bother to say this lie when the company said later that it plans to keep diluting into 2019?Dilution with buyback is not possible.
And so the plan is to find cash to pay dividend this year but keep diluting this year and the next because it has not enough cash???
I think it would be time for Solomon to tell Tony that he cannot keep experimenting for ever.
If he cannot achieve anything after a certain time period it will be time to get the sack.
Is it better to let Tony to experiment and keep diluting at 2% book, or just simply go and buy technology from somewhere else and start producing.Or simply hire someone else who knows better.
Exactly.And I would have liked Dan to pick the story up from where he left it at the last CC and tell us what happened after the main bank said ok and it was up to the other 4 to accept the leading bank’s recommendation.
Yes.That's the solution.
And they only one we can hear clearly.
Since it is not really a CC why they don't just pre-record everything so that we can at least understand what they are saying?
It is Erik.I thought he left the company.
Elisabeth must be from KCSA.
Who is speaking now?It is not Dan is it?
Unless his pneumonia is really bad.
Are they going to comment about the collateral shares at the CC or any time soon?That is another shady area the company must tell us what it is planning to do about and what the situation is exactly.
I think most of us were thinking that this company was not behaving like obvious scams trying to pump the stock price with dividends etc., so no way it could be one.
However the reason could be that after securing the loan from ECAB, they could not dilute so they had no obvious benefit from a higher stock price.
Before that it was dilution and after restructuring the ECAB deal it is dilution again this time for pocket money at below 10% of what they used to dilute at.
By the way they kept the ECAB restructuring secret and then the reason why the O/S was going up secret too for more than six months.
In the meantime for over a year all hope is based on the company securing a big loan as if there were no profitable operations all these years.
So in summary Dilution-ECAB loan-Dilution at 2% book-TRW loan???
So it comes down to either gross mismanagement of funds or unfortunately something more sinister.
[/quote]And the big buyers we had the past couple of days. I think they know something we don't.
[/quote]
Possibly some new naive pilot investor, who did not know that he could easily have bought below 30c.
Big O/S increase yesterday as expected.
38,512,118 now
How can you possibly issue all these shares just hours after announcing the dividend?
Whoever bought at 45c for the dividend, one and a half year’s probable profits, evaporated in 3 days.
Good point.Or about $15M in book value because of his salary.
Yes he looks determined to list in the US.Good risk to reward ratio.Just as I said hopefully there will be no change of plans.Of course in that case he will have to explain why should anybody trust him after what he did with CEHD letting investors down.
It is good that the lawyer and head for listing that looks to be this Jiang Hao is saying in this article from last month:’Given the complicated nature of regulatory issues concerning IPOs, long waiting periods, and high overall costs, reverse buyouts are the first choice to help Chinese companies list in the United States’
He looks to be an authority on markets and listings of Chinese companies.
http://www.sohu.com/a/229532251_398071
Also from this page it seems like Welfleet and Huawei Law firm will be assisting for the listing.
It remains to be seen if CEHD will be used and if yes how much dilution will happen.
http://www.sohu.com/a/216403419_100063079
Looks like the plan for Nasdaq was still alive and kicking at least as recently as the 24th of April.It seems that those 2 women in the bottom pics will be assisting in the listing.Here is a google translation:
On April 24th, 2018, Wall Street Capital Market in New York and Senior Analyst of US SEC docking finance. Bees madly purchased members of New York listing project team Wang Hailin and Shi Yiru made a special trip from New York to the bee to buy Liu'an headquarters to jointly promote bee madness. Purchase NASDAQ Main Board listing plan work.(Bee madness=fkgou)
Would be great if somebody could locate and try to contact either of those two ladies.
https://www.xuehua.us/2018/04/26/?????????????,????????/
Solomon as I am beginning to understand him better,is probably someone who cannot operate under a plan.He makes promises or gets loans but because the difficulties after the promises or loans will come in the future he does not care.Like 'who will be alive in 2 years' or 'I will think of a solution when that time comes'.Call it procrastination or entrepreneurial immaturity, don't know what it is.
Also enjoying starting projects and not caring about costs or profits.No business plans nothing.And for me main problem his credit terms.Enjoying seeing people buying from him but not taking into account the risks that giving non-guaranteed credit involves.
That is why a dividend at this point was totally pointless.
Just the Garrett note outstanding makes any investment risky.
Just tell us Solomon if you care about the shareholders, what are your plans about dilution going forward even without a loan.
You have been diluting quietly without anybody knowing anything for more than six months now.Amazing if you think about it.They said nothing in the 10-K, nothing at the CC, and nobody was answering despite repeated attempts why the O/S was going up.
A question Solomon has to answer too is,why are creditors accepting payment at a fraction of 55c?What is going on there?
Who said the dividend will make it more difficult for Solomon to dilute?
It was so obvious that dividend alone was a hopeless move.It needed either a buyback plan or just a PR that there will be no more dilution.
I think they said that TRW is not yet cash flow positive.Obviously the same story as with SIAF profit is in receivables.
So as long as TRW will be growing it will need funding just to grow its book value which however will not be in cash but as usual in receivables, inventories and development.
Isn’t it possible to change the credit terms from time limit to money limit?For example instead of giving customers 3 months or more credit in which they can accumulate millions in debt, give them say up to 3 million dollars in credit and then if they want to order more have to pay.
Don’t know but can’t see anything changing with Solomon as CEO.It can be very hard for him to start saying NO and Enough is Enough to old friends and customers who may continue to take advantage of him.
Good question.And all this happened after they announced with the OTC in October that at the AGM they would initialize a Buyback Program!!!!
Not only there was no Bayback or AGM even, but on top of that they began to dilute for peanuts.
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
Yes.They will love technical questions like that to spend the time and not have to answer the really important questions.
Did they mention the biogas anywhere?
Yes.Because it’s for settlement of debt, I guess they are happy to get a % of what they are owed immediately than wait.
Very sad day overall.Solomon finally admitting that he diluted so heavily, including the TRW dividend, for 4-5 million dollars.And saying basically that if needed he may continue to do so.
Anyone understands what that 55c dilution price was all about?
Does Solomon want us to believe that he was selling shares @55c and then they were dumped at a heavy discount?Who was stupid enough to buy them?
They speak about antiicapated debt financing again.Ok that is good enough.
Unfortunately they had talked about both dividends and buybacks.Now that there are no buybacks let’s see at least if there will be no new shares.Otherwise can’t see how the dividend promise alone can keep the share price from not falling much lower.They should make a commitment at the CC that there are no plans for further dilution.
Hopefully they can also talk about the collaterals and the loan.Can’t see any mention about it in the PR.
Didn’t they say they had not issued any collaterals since September?Or did they mean in Q4.
The report shows 330,000 extra collaterals.Or is that the US$ value?
WOW!Dividend finally?
Any reason why you start it from 2017?