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Say NO to Nasdaq
http://www.prnewswire.com/news-releases/...
CHINESE GOVERNMENT AGENCY LAUNCHES INQUIRY AGAINST THE NASDAQ
On January 8, 2012, The China LiaoNing Provincial Government Small and Medium Enterprises Bureau, a major provincial government regulatory agency in China, sent official letters to The United States Department of Commerce and The Office of the United States Trade Representative, expressing the agency's grave concerns regarding the racially-motivated discriminatory acts of NASDAQ against CleanTech and the resulting damage to CleanTech and China-U.S. business and trade relations.
RACIST REMARKS CAPTURED ON THE RECORD MADE BY MICHAEL EMEN, A MEMBER OF NASDAQ'S SENIOR MANAGEMENT :
As captured on the record of testimony made by Michael Emen, NASDAQ's Senior Vice President and Head of NASDAQ Listing Qualifications, NASDAQ delisted CleanTech under Michael Emen's self-described "broad discretionary authority," as he stated on the record, to "delist CleanTech…send a message to the world" against Chinese companies. NASDAQ and Michael Emen developed their prejudice and racial discrimination against the Chinese people, China based companies, acting outside NASDAQ's regulatory purview, as further evidenced by Michael Emen's racially biased statement captured on the record: "CleanTech' s disclosures may have satisfied the letter of our rules, but they certainly didn't satisfy their "spirit." NASDAQ and Michael Emen's "spirit" of racism against CleanTech and China based companies, rather than adhering to the rule of law, was evident when Michael Emen admitted on the record that CleanTech had complied with required NASDAQ disclosure rules. There is no "spirit of NASDAQ " as a NASDAQ listing standard that could be found anywhere, including the NASDAQ Code of Conduct.
NASDAQ'S LISTING APPEAL PROCESS WAS "FIXED" BY NASDAQ STAFF AGAINST CLEANTECH IN FURTHER EVIDENCE OF RACISM
AT LEAST ONE NASDAQ BOARD MEMBER STATED THAT HE HAD NEVER HEARD ABOUT A "CLEANTECH DELISTING" FOR REVIEW, A VIOLATION OF DUE PROCESS
>> 1. Regarding the uplisting.
He will do the reverse split if needed. He just doesn't want to hit the stock now, for no reason. It'll be the Board's decision, not his. Besides, if you do a reverse split with the intent to uplist then the market won't punish you for it.
>> 2. Share structure.
I suppose they will be raising cash towards the end of the year, for capex in 2013. We don't know what the price will be then.
>> 3. Taxes.
Not everything is tax free. The restaurants and retailshops probably are not.
Strindberg posted a link on the YH message board
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_S/threadview?m=ts&bn=139878&tid=386&mid=386&tof=1&frt=1
You can't listen to all of it because the file seems to be corrupt. After 65 minutes or so.
I agree that dilution is not the main issue. And I believe the growth story is really there.
There are more pressing issues, like
1) attracting institutional buyers
2) spinning off those subsidiaries
3) get that uplisting
The share price could triple in a matter of weeks/months, even now. If you take a look at the chart, that is a possibility.
The most important thing is that management should be aware of how their investor base feels about this. That awareness is there IMO.
So there really isn't a whole lot for us to do here except sit back and enjoy the ride.
Of course I can't be sure about anything. But it seems plausible if we're at 72M shares now and management is projecting a weighed average of 70.5M for 2012, wouldn't you say?
Also keep in mind, that they have to issue stock and options to employees. Possibly, they will issue less shares BECAUSE the market imploded in mid 2011. My point is, we will come out of this better than we would have otherwise, provided fundamentals haven't changed in a negative way. And they haven't.
My other point is, people should relax. Because dilution simply isn't an issue. And it's not good to put pressure on Solomon this way. They know what they are doing.
For the people who don't know this, Chinese people have a habit of not taking loans or taking on debt. They are very stubborn. So this has been a very positive development.
Now, if you ask me where I do see potential problems, I see problems with a NASDAQ listing. I really feel we should go for Amex. Or a listing in Sweden.
And I see problems if there is too much pressure on Solomon. Too much pressure results in fraud.
I think people need to relax a bit about the level of dilution.
1) It's only 17% when earnings from operations is growing 200%
2) YHGG hasn't issued a single share for 5 years and it's getting them nowhere? Trading at 5% of book value now.
3) Some of the shares, if not most, are probably stock or option incentives for employees.
4) We are already at 72M and the weighed average will be 70.5M for 2012. Meaning, there will hardly be any dilution going forward.
5) I think it provides management with some flexibility. When you're living on the edge, with cash close to zero, there is an added benefit. Because this way you won't have to maintain a buffer of say $10M.
6) You never know what the share price will be, like 6 months from now. Management has to plan ahead 1 to 2 years.
What it is NOT, dilution, is confirmation by mangement that the stock is fairly priced. Come on people... you know that.
In the 10-K it says they expect to produce 500MT in 2012 and 800MT in 2013 from the first fish farm. I don't think they will be adding tanks to achieve that.
1 tank equals 25MT/Year.
There is a lot of information about the first fish farm in this video at the bottom.
http://www.sinoagrofood.com/?q=content/investor-relations
The fish farm has a capacity of 500MT. But they can ramp it up to 1000MT or even 2000MT depending on the circumstances. I think 2000MT is a theoretical number.
You can correct me if I misinterpreted any of it.
Wrt to optimizing capacity, I think a lot is dependent on experience and timing.
All I know is if they haven't taken at least a 50% stake in fish farm #1 by the end of Q1 then I'm starting to get a bit worried.
I have a respectable position in SIAF now. So if it goes up then I can live with it. I will not be selling this one (or trade it) until we get to $20
We can't put all of our money on SIAF so I don't see the problem. As long as we keep the number of posts limited. I just don't feel like sending private messages because I feel we should be sharing.
I had SCEI on my list of risky stocks for over a year until I dug a little deeper.
I noticed that some of the people I know (who do a lot of DD) were invested in the stock so I increased my efforts.
The class action lawsuit against the company resulting from the short attack was dismissed by the judge. What this tells you basically is that there is no evidence of fraud. There was a 2nd amendment and this is probably why the company never announced it. But it was on the law firm's website.
They are increasing capacity from 1.1M MT to 2.9M MT this year so the growth story is there.
The business model is really simple and I think the stock will do well with the crowd.
SCEI had its cash and assets verified by an independent third-party but I already owned the stock by then.
http://finance.yahoo.com/news/sino-clean-energy-inc-announces-133000256.html
I think they are in a sweet spot with rising oil prices.
And I like my stocks with a P/E of 1
The company is learning and making all the right moves, IMO.
It's one of my favorites now.
A lot of the stocks I own already took off but fell back in recent weeks for some reason, including SIAF.
Not to worry, It'll come.
Well, I'm a stubborn type of guy.
I don't listen to anyone but myself when it comes to making investment decisions.
But I will give you my list if you are interested. I have published it before on ABAT message board. And like I said back then, my opinion is not going to affect the market.
So here are the overall scores which are comprised of many important items (risk, valuation, trend, stability, margins, growth rate, priority and adaptability).
I currently own the top 6.
SIAF 9.2
CCCL 8.8
SCEI 8.8
ABAT 8.6
GURE 8.5
CBEH 8.3
CSGH 8.1
SKBI 8.1
YHGG 8.1
CEAI 8.1
YONG 7.9
ALTI 7.9
CAGC 7.8
DEER 7.8
Everything I have done over the past year is in there. So there is not a lot more to discuss.
Oh, It's you, from Belgium ?
I like you, but I don't know about communicating privately. I usually don't do that.
Then why is CCCL trading at a forward P/E of 1?
It's not a reverse merger
It was not attacked by shorts
There are no lawsuits against the company
And they are growing with good margins.
You can come up with all sorts of theories but when you have done as much research as I have, there is only one conclusion:
If you are Chinese, you're fooked.
Basically what happens is, that institutions want nothing to do with you. Everyone is looking to protect their reputation.
China’s CleanTech sues Nasdaq for alleged racism
http://www.thelawyer.com/china%E2%80%99s-cleantech-sues-nasdaq-for-alleged-racism/1010992.article
Yes, I think you could say that Amex is safer
If you dig a little deeper you may find some statements made by a NASDAQ representative that would shock you.
I'm not going to debate ABAT with you.
Of course they look guilty. They look guilty to anyone who doesn't know the company. That's the whole point. And the same could happen to SIAF. Easily.
14 months ago I thought, what happened to some other companies could never happen to ABAT because it is so obvious that the company is the real thing. Nevertheless the criminal shorts succeeded.
In case you want to read ABAT's rebuttal, point by point, here it is. It is the only time they publicly responded to the shorts' allegations. The shorts that originally accused ABAT are still anonymous btw. But none of this seems to matter to the public.
http://www.globenewswire.com/newsroom/news.html?d=218071
Short sellers isn't the only problem.
NASDAQ are bullies. If you are Chinese, they don't want you!
They are just trying to protect their own reputation. Best case!
There are actually two companies suing NASDAQ at the moment (that I know about).
I've been following some 40 Chinese companies over the past year or so, so I know what I'm talking about.
Forget about NASDAQ.
Don't make me come back a year or two from now and tell you people "I told you so"
Easy dude....
They have to stay listed on OTC/QB or preferably OTC/QX.
How else am I going to buy the shares?
I think if you list in Sweden, it may become the leading exchange.
But please.... forget about NASDAQ.
Perhaps AMEX is an option. They seem to be more tolerant than NASDAQ.
Dilution is not the issue here.
Read this press release from ABAT and then ask yourself if you want to list on an exchange in Sweden or in the US.
Do it!
http://www.globenewswire.com/newsroom/news.html?d=239287
You are entirely correct.
There is still a good chance that the short sellers will turn SIAF into dog meat a year from now on a US exchange.
There seems to be a false sense of confidence on the part of management in their ability to overcome the shorts.
Let me tell you, ** I ** could turn SIAF into dog meat if you let me publish an article on Seeking Alpha, backed by a hedge fund.
Sweden is the place to go to.
We need a section "FAQ" under "Investor Relations" on the website.
There are a lot of new investors, like me, who have a lot of remaining questions when doing their DD for the first time.
And given the current climate of risk aversion, I think such a section would be very helpful.
For instance
Q: Does the company plan to uplist to Nasdaq?
A: blah blah
Q: What is a smaller reporting company?
A: blah blah
Q: Does the company intent to disclose the risk factors in its filings (10-k)?
A: blah blah
Q: Does the company pay a dividend?
A: blah blah
etc. etc.
What do you mean, no disposition?
The only difference with last year's filing is the expiration date.
The transaction date of 2010 is easily overlooked.
Only when I counted the shares and came to $7M is when I understood this was about last year.
It scared some people alright.
Yes, it was the form5 IMO.
Because it scared the hell out of me and it took me a few minutes to understand what was really going on.
Then I watched the share price go down.
The reason for todays's drop were the Form5's filed.
It appeared like management gave themselves 7m shares but in reality all that happened was that last year's shares now have an expiration date.
IMO.