in the most remote place on the planet
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Yes, he did. Also the Stockholm meetings in late May.
You're right, if SIAF doesn't pan out he'll need to go into hiding. But I'm confident that won't happen. We have a winner (despite all the present day pain). I have enlisted a number of investors as well, and continue to remind them that this is a 4 year play.
Aloha, Mauiguy,
Hyperboy said "move the goal up to 20 million" -- not that they're at 20 million. He also included Jan4 and others in his statement, so it's not just his group alone. And yes, he's trying to help airline employees who've been screwed out of their pensions by airline bankruptcies, to find an investment vehicle that pays dividends and is an exceptional growth stock. I, for one, think he's doing a great service for them.
I certainly hope that Solomon doesn't spend one minute reading this message board. He has an overwhelming task of growing and optimizing the performance of Sino Agro Food, Inc. Spending time on this board would be a very poor use of his time!
Yes, I think most of the members of this board are aware of who he is/was: (http://investorshub.advfn.com/boards/profile.aspx?user=212623)
FT, he certainly knows about this board, as he was a very active participant before he took on the IR role for Sino Agro Food. I'm sure that he follows the conversations here. His handle on iHub was treit2002 (pronounced "treat"), and I think most folks are aware of his contributions to the board. His last post was in March, just before he took the IR job.
I trust your judgment on most everything, Viking, including this. But I was under the impression (from the tour) that the volume of import/export business would exceed the distribution of in-house products, and that's why I questioned whether the margins would reach much higher levels. I may not remember correctly, so I'm not asserting this, just asking.
Do you think that margins for the Wholesale Center will ever improve as much as other areas of SIAF's businesses? I think all of the WC revenues were from import/export (IIRC), and it's hard to imagine that revenues from a distribution business will ever realize profit margins as high as those from SIAF's own livestock, fish, or produce. Of course, I hope for excellent revenues with decent margins!
Now that the website and Facebook page are being updated more regularly, maybe we can help spread the word by "liking" the Facebook page, and inviting friends. At any rate, it can't hurt.
Absolutely, it does make sense. But you know what happens on this board when a perceived promise appears to have been made, and isn't realized. That's my concern.
But, yes, this is terrific news!
Viking, I don't think we should say $6.5M "already." The 2013 harvests have been sown, but not yet reaped.
Just trying to avoid future disappointment, as that FB post does say "estimated."
Tony, I believe Chad has redirected all of his investments into his new company, Indoor Harvest.
I may be wrong, but am under the impression that Solomon is an Australian citizen. Does anybody know if this is true? If it is, I believe that he would be subject to our laws (unlike other Chinese CEOs) and could be sued if he turns out to be perpetrating a fraud (which I do NOT think for one second is happening).
We will see who has the last laugh, Joe.
Not too sure about powers, but I have had special flowers ...
I am no expert on corporate finance. But as an individual, I've noticed that when people or entities don't need money is when banks are happy to loan; not so much when they really do need money/capital.
For companies, I believe that banks look primarily at cash flow when determining eligibility for loans. Banks in China may use more or less restrictive criteria. I have no idea.
SIAF is now stating that three of six subsidiaries are can suppport their own development on their own. This is three more than a year ago. Of course, it is the other three that need funding. And next year, the remaining three will be self supporting.
Because all subsidiaries are separate operations with separate corporate structures, I doubt that banks look at the cash flows for the subsidiaries that would not be using the loans. In other words, the HU plantation cannot borrow money from a bank, and then SIAF turn around and use the money for SJAP. Yet, at SJAP. the abattoir and deboning facility construction is underway, and will in the future generate very good returns, if not spectacular.
To me, this explains why a private placement at a total return of 17% to accredited investors and possibly foreign institutions makes sense.
I'm puzzled as to why this makes you think the company has "fraud" written all over it. Isn't this the kind of news that everybody has been waiting for?
More than ever, it signals the end of dilution. The beloved HU farm won't be sold, but is part of the asset base that guarantees this bond. With the Chinese banking system in its current uncertain condition, and with the apparently endless caution of Penser, this private placement may not be the optimal institutional bond we've been hoping for -- but its goal of ending dilution is commendable. Even if it isn't fully subscribed, I'm encouraged by these two points in the offering:
"Short of meeting full subscription of the bond, the Company will adjust the use of proceeds, which we presently expect would affect principally the Company’s upstream developments and delay the development of SJAP and HSA until such time it is in a financial position to commence financing these activities."
Also,
"The rate as to which funds are needed to meet the Company’s current development growth strategy is approximately $1 million per 1.5 months."
To me, the quotes clearly mean that if they don't raise all the funds, they'll delay some development -- and apparently, at that rate, they only need about $4 million to get through the year, which gives quite a bit of breathing room to find more subscribers, etc.
Also, I'm positive that other efforts (bonds, FN listing) have not stopped. This seems to be a decent interim step, aimed at ending dilution once and for all. This addresses my biggest complaint!
I think we should all be happy to see a step in this direction. Of course, this is from a woman's perspective ...
Not sure, because of translation, but is this announcing the new abattoir?
I decided to look at my photos (they are crummy, taken with phone) to see if I could identify the location of the Leonie restaurant that the investor tour dined at in September. And I could! So using signs in some of my snaps, I located it.
That restaurant is located in the Mall of the World (http://www.lifeofguangzhou.com/node_981/node_989/node_996/node_1011/2011/10/14/131855948691707.shtml and http://www.lkfgroup.com/index.php/4-01-mall_of_the_world_guangzhou/)
Mall of the World listing (they interpret the "L" as a "J" and call it "Jeonie," but display the sign/logo): http://www.mowgz.com/en/brand/detail.html?id=block_Z1_B1_1071-1
Perhaps I'll get motivated and search for information about Jeonie.
I thought of sending my condolences, FT, as James Gandolfini was a great actor and personal favorite. I thought that the HU flower was a good avatar. But, based on your request, if I think of a female that I identify with for this purpose, I may change it. Suggestions welcome (but no guarantees of change).
Thanks. I still need to request addresses and other info, which I will do this week.
I take this as a compliment. Thank you.
No, that wasn't me. I did ask one question during the most recent call.
Also, I felt sorry for the cattle, fish, and prawns that we saw in China That seems girly.
Plus I wonder all the time about the meaning of 'organic' and if there is genetic modification happening as they develop improved grasses for cattle feed, etc.
Good question!
Apparently nothing I've written has had a blatantly feminine perspective.
How about this? The pit toilets in China took some getting used to. I developed new leg muscles within a week.
Tony, I am a woman.
Would a big 4 firm even accept a client like Sino Agro Food?
Here is a a pretty funny version of the investor update from March. It appears to have been translated to English, from a translated version (instead of using the original which was in English). For example, instead of "fertilizer" it says "churned manure."
http://www.virmmac.com/sino-agro-food-inc-siaf-otcqb-sino-agro-food-inc-provides-updates-on-its-operations/
I found this in my search for Leonie or Bull restaurants
TF, I'm hardly a fanatic. I would call myself a 'fan' of Sino Agro Food. I'd even call myself an admirer of Solomon, although I dislike the dilution as much as most.
Was there a promise? There may have been a mention of sharing any news that is available before the next Q report. Sadly, there doesn't seem to be anything they are able to report.
I don't recall a promise, although a mid-quarter report would be nice. If it were in the middle of the Q1 and Q2 reports, we'd expect it around July 1, right?
Thanks! So far, however, the additional info doesn't help me find consumer listings for the restaurants. Viking's suggestion about translation issues may be correct.
I wondered the same thing today, and my searches led me only to SIAF filings or press releases, and to the discussion started by your post.
I ate at both the Leonie and Bull restaurants last year, and decided to review them today. But I can't find listings for them.
I will email and ask for the relevant info (address, phone, hours, links, etc.). If I get a substantive reply, I will submit reviews (including creating the restaurant listings) on tripadvisor. Then I'll post links here.
It's a big day for me, Viking! I don't need to apologize for a typo or mistake!
I'm pretty sure that we saw the broken ground for the feedstock operation when we visited last September, and photos of the completed facility in use at the Penser luncheon. So that's also new construction on the SJAP site.
The complex is a former Army post, and as seen in many photos, the cows now occupy the former barracks. But the office headquarters is new construction, befitting the vertically integrated "mini SIAF" that SJAP is. In addition to the office HQ for SJAP, they've built a feedstock production facility and will construct an abattoir on the property.
Photos of SJAP office construction (nearly completed) are here: https://www.facebook.com/photo.php?fbid=395898097141028&set=a.395897970474374.89104.380415995355905&type=3&theater
I am a simpleton about trading, so pardon my dumb questions. Can I tell my brokers to close my margin accounts? They were automatically given to me when I opened my accounts, and I've never used them. If I do, will that mean my shares are never available for short sellers to borrow? Perhaps it's something other long term shareholders would want to do? Could it have a positive effect?
Viking, yet again I apologize. I noticed my typo, and thought about another post to correct it. But I left it uncorrected. It should have said $26M of the $118M would be from outside sources...
I think that all $26M is for projects. A share buyback is a newer idea.
Sly, I believe those intentions to end dilution have been made public.
In both quarterly conference calls, there are relevant public statements.
Solomon said 2013 would be the last year for cap ex funding outside internally generated funds. He also said that $16M of $118M cap ex 2013 would be from outside sources.
It seems that $16- 18M remains, and he's referred to bonds -- multiple sources are the preferred means.
I'd say that those statements mean that his intent is to end dilution.
Now, let's hope he quickly *finds the means* to end dilution!
It's discouraging to read this board, which is why I stay away for long periods. I think that some of us who obsess over the share price need to get out and breathe some fresh air. Positive actions and news that will improve share prices have not yet occurred. We're sick of waiting, and looking at the red ink caused by our undervalued shares. Our negative views are self-fulfilling.
Let's channel our positive knowledge about Sino Agro Food. New shareholders are "coming on board" at these low share prices, and business efforts surely continue, despite summer slowdowns. I have added modestly to my portfolio at .385 and .40, which causes me to think more like a trader than I ever intended. I am confident that I will be a happy long term investor.
Although the Company hasn't been able to give us news, we have absolutely no reason to think that they aren't working hard, in a direction that is positive for the shareholders. I think they may be taking groundbreaking steps for a Chinese company of their market size, and that it can't be easy. We all know that the share price is not related to the fundamentals; that's what makes it such a great value. We know that the Company is tracking according to their plan. We know that they are paying big bucks for ongoing due diligence. They have a couple of new board members, and are working to secure bond offerings in major markets, in addition to submitting to extreme scrutiny for the FN listing. The management team is working hard, and they have listened to shareholder complaints. They don't intend to dilute again, and they're doing everything possible as quickly as they can. External decisions are outside of their control. It must be frustrating for Solomon and his team, as it is for each of us.
Please, take a stroll and enjoy the summer breezes. Drink a refreshing beverage. Enjoy today's moments a little bit more than you're able to when you become obsessive about daily price points!
Remember that this company will perform very well in the longer term.
This fellow wants Western Australia farmers to switch from grain to beef cattle. He's following the money:
http://au.news.yahoo.com/thewest/business/a/-/national/17566362/agri-boss-sees-future-in-livestock/
I think your predictions about HU are astute. And congrats on KNDI!
I try to think the way you do about my investment. Sometimes it's pretty difficult!
p.s. the photo of my avatar is a ready-to-harvest perfect dragon fruit, plucked by Solomon at the farm and presented to me. He loves those plants!