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3 million A/P Ironridge gave/6.9 million shares = .41PPS
I don't think it'll actually get there. It may come close though.
At least there are no major expectations for the company to blow.
SIAF isn't down because of Carson Block
FMCN wasn't even red on the day
SIAF is down because you have a relentless consistent seller with huge holdings controlling the PPS downward. I considered buying today till I saw the seller trying to walk the PPS down his/her 50,000 share ask.
I treat this one as dead money for the next 6 months. I'm not a seller and I'm definately not a buyer till it gets to the sellers price of .41.
Checked out some of your picks, quite the list of winners
How many non viable companies as you say pay out a consistent annual dividend? Ya your statement is quite foolish.
SIAF will be just fine with some time. Average valuation(PE) of all the Chinese stocks across this sector is in the 2-4 range. This one trades at 1.0 roughly.
I believe we are 'near' the absolute bottom which is likely around .41 due to people thinking incorrectly Ironridge recieved shares at this.
So let them sell if that is indeed who is selling. But it might not be anyone selling and just someone playing games trading back and forth to themselves(someone who has a lot of shares) which is the more likely, I mean really think about it. Not too many retail investors are going to AON limit sell dump 50,000 shares at a time or buy such a large amount in a AON limit buy order.
Solomon of course did want to talk about retiring shares. It is a highly positive action and it should have spiked the PPS a good 3-5%.
I'll admit that I did also incorrect assumed dilution until the CEO explained it in the CC
No I don't think shares will be issued at all to Ironridge. Why go through that whole process just to default? If they were going to do that then they could have just issued shares straight at 1.50 like before. The biggest loser in any share dilution is the largest owner, who happens to be the CEO, who also pays his salary half cash/half shares(360k/360k).
The Ironridge possibility of recieving shares is their security blanket and they made it a sweet deal to prevent a default which is how every single deal set up like this. It's like taking a loan against collateral, which happens to be shares in this case. If they were priced at 1.50 instead of .41 I say sure go ahead and default which is exactly the reason why they are priced at .41, to provide incentive to not default.
Solomon talked about retiring shares because previously the company formally disclosed their intention in a CC that they would. So the company is just following through with what they previously stated. If memory serves right, the retirement was to be before the end of the fiscal year and the amount of shares to be retired was 2 million.
Ironridge has no shares to 'dump'
I don't know who all understood the CC but the deal actually wasn't that bad. Probably actually a positive medium~long term.
If SIAF defaults on the loan Ironridge made to cover the A/P then they will be awarded 6.9 million shares. A default is about as possible as me winning the lotto IMO.
There is a total of 66.2 million shares O/S as of 11/21/11
It recently increased about 2 million
Bit of a stretch to make that statement when the stock is down about 50% since June. Definately wouldn't call that "i want my cake and eat it too" or anywhere close to be honest.
Anyone who isn't a bit irked with having an unrealized loss of 50% or more, much more for some I'm guessing is simply a terrible investor. In my opinion they have the right to vent as much as they wish.
The only part of your statement I do agree with is that the company still has potential.
Where is IR!!! M.I.A.~S.O.S.
50/50 it goes to .41. It wont go lower.
Ignorant move by the company.
Least you all know who the entity is that is walking the price down now.
my house of pain = SIAF
return on present investment = -40% @ .52
But hey, we got 1/2 of the promised dividend!!!!!!!!!!!! Idiots should have saved the 600k cash if they knew they would do this crap. Now I say go ahead and issue sraight shares for the dividend. I mean no worries about diluting the stock right??
WOW, no interest on IHUB?
Looks like a killer stock with a killer divy!!!
Anyone know when the semi-annual divy is going to be declared?
The killing fields of SIAF
http://www.sec.gov/Archives/edgar/data/1488419/000114420411064937/v240787_8k.htm
3 million cash for 6.975million shares
Sweet!!!
Murder the shareholders, excellent idea Solomon!!!
Ironridge does have a pretty pathetic record per the last 6 months.
Divy in my account now!!!
I wont be surprised if the stock rallies up to or after earnings. Many of the chinese stocks accused of accounting irregularities are trading at P/E multiples of 3-4 right now(TTM). SIAF trades at a TTM P/E multiple of 1.5.
Actually I will be disappointed if it doesn't rally to say 1.00-1.20.
Nope
I haven't recieved anything as of right now...scottrade account
NT 10-Q delayed filing by SIAF 11/14/11
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001488419&type=&dateb=&owner=include&count=40
The suffering will soon be over hopefully. At least we get the divy payout tomorrow:)
Chad, explanation needed STAT!!!
On the recent transaction, SEC filed document 13G on 11/10/11.
Ivestors(owners of the company) are being slaughtered, company trading at or around its low and the company dilutes?
So it is profit taking now?
Thought it was, we're going to .80+
And then other posters talking about what great days the stock has had, being up a massive .01 to only go down the next day. The price is actually declining still.
You guys keep drinking that koolaid though. Anyone who is 'happy' with the price movement as of late isn't a very good investor.
As for Solomon "doing the right things", I disagree. Announce the dividend 1 day before the ex-date? Really? If that is what you define as doing the right thing then we have a serious difference of opinions.
Let me rephrase that
The "entity" holding the PPS at .75.
I seriously doubt this stock pops to 2 dollars by the end of the year.
If the insider who has been dumping millions over the past 2 months everyday at 3:45 clears out of the way, possibly. If not this stock is stuck where it's at thanks to that guy.
Knowing that above, I'll be happy if it holds 1 dollar per share by the end of the year. Still a good return but not the double up or triple up everyone here wants and the stock deserves. Probably the most discounted chinese stock in the R/M sector when you take into consideration the dividend.
At least you are staying consistent
So why post, stock is going to .20 according to you on post# 6177
But then you also believed CCME was a BARGAIN or so according to your posting history!!!
I think that sums up my thoughts on your investing skills, but by all means return in 2 months and restate what you have restated again.
Very good PR IMO
That's actually the way to do it. Beat Geo to the punch:) Now they can't really say a whole lot now since the company beat them to it.
End of story there
My only issue at the moment
My issue is:
Dividend announcement PR!
Can we announce it already?
99% of the float are the 'litigation' shares and soon to be cancelled...meaning no 1.50. Not sure how much simpler one has to explain that
as for SEC filings being consistent
I remember them being consistent with CHBT, UTA, CCME, etc as well LMFAO
Anyone who buys into this thinking they just got a 10 bag stock and loses cash in the end I feel no pity for.
good luck with those shares you bought
let me know when they magically vanish and no funds recieved
stock is a scam, sucks if you bought it on the pump
CHCC SCAM!!!!
99% of the outstanding shares are considered 'litigation shares' and thus exempt from the 1.50 purchase.
The non litigation shares are the ones the insiders owned and have not sold, so they are essentially just paying themselves.
That'd be also why the share price was sub .10. PAMCO just dumped the shares onto the open market, probably knowing that the company was going to do this. So all of you just bought a bunch of junk shares.
out of the hundreds of chicoms out there. I can only name 3 or 4 that are not scams.
http://www.scribd.com/fullscreen/67019746?access_key=key-2byygfxo2os3c3ywdxjy
CCME info
They(SAIC v SAT v SEC) can be different sure, but not so different that you'd think you were looking at two entirely different company. SIAF has some legit reasons for theirs not being 100% accurate, they are expanding with lots of new ground acquired, fish farm running, sold the dairy, etc. IMO this one is a legit 2-3 bag stock in less than 6 months. 10 bag stock when it uplists in HK. Just buy it put it away for 2-3 years and don't sweat the day to day or week to week changes.
As far as GEO info. There is no where near enough info put out to do anything but speculate if it should be anything of importance.
If it were a fraud, JF would have saw this. They spent a decent amount of time there I'm assuming given the situation with chinese small caps.
Ben Whey is a professional con artist or at best EXTREMELY shady.
CCME was a fraud because it was a complete sham, SAT filings show no revenue.
Seems like a lot of work for GEO to put forth in digging up the SAIC docs of the multiple subs of a pink sheet. If SAIC numbers were totally off they would state that is my guess. Not come out with a blank statement saying "they don't match" with no additional info.
Till more info is provided on the discreptancy, I'd use caution. Especially since there is a lot of large block dumping going on from someone in the 'need to know' circle.