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Great news!
The Company has covenanted and committed to discontinue the issuance of equity to our trade suppliers and similar except for those that have been agreed to prior to the signing of the convertible notes agreement.
Read this article about SAT and SAIC
Any concern over SAIC filings is just one example of the many areas that investors are just beginning to learn about Chinese business practices. Be wary of less professional advice from amateur or anonymous sources that often have untold self-interest behind some seemingly legitimate arguments. There are often stock short sellers behind many "sudden discoveries of fraud" at a legitimate publicly traded China based company. Avoiding fraud involves much more than comparing apples to oranges. Understanding China, learning to speak the Chinese language, gaining better understanding of China's complex cultural and business aspects are among the right steps one should take.
http://www.prnewswire.com/news-releases/benjamin-wey---a-china-experts-views-on-understanding-saic-and-sec-filing-discrepancies-for-us-listed-china-based-companies-103869893.html
Traderfan I must say that if you do not trust their assets and production facility's you should know better by now. Everything is there and legal DD is past. What is left is for the market to believe production numbers, cash flow and CAPEX.
What is happening no trading no buyers no sellers?
Fallofitaly what do you think SIAF can put up as collateral from the balance-sheet for a loan?
Empty I think most of the money available for SIAF to lend would require fix assets able to be liquidate in case of default as security for the loan. What asset can they put up in this case?
Good work Solomon, impressive!
Ok thx I will investigate.
Could you help me with that tax situation? They should pay some tax for the trade and restaurants etc . Can you help to dig this out with the toothbrush?
I recall that he thought we couldn't get financing with collaterals at PE above 1. Actually at a market premium at that time and not that strange.
Hey congrats I would say you are investing at the risk free rate, given that the Chinese government want to provide food to its population.
Meantime I will hold my stake in the company.
Hi empty,
Well i thought they would have made it by now but if they are dragging out to late 2015 I would call for some cut cost starting with the board and the CEO pay checks. This would get the markets attention. But I am not on the board.
Hey I mean no disrespect! most of the posters are very enlighten and experienced and passionate.
Now this must be the funniest thing today, lol. Next to the debate of freedom to express ones mind on a chat board, concluded with a circular argumentation.
You are and you already did the hard work except from estimating CAPEX and taxes.
Why don't you try to do a DCF. The problem is what WACC to use I would use a WACC of 15 % using PwC discounts for micro caps. Apple would have ca 6 %,
http://www.stockresearching.com/2013/11/11/apple-inc-fundamental-analysis-wacc-cost-of-debt-and-cost-of-equity-aapl/
It matters allot to me!
You know what, I could pay that money from pocket change and that would then turn into his favour arguing about the company. So better no one does. I call.
I will follow your case closely but for now I do not foresee any implications for the company. If there would be a high risk I would sell.
Ok I give up! go ahead sir.
Yes empty there is nothing to deduct if you are not doing a following cash DD and legal DD outside the scope of auditors. The board members and the new CFO gives me some comfort in this area and I see no reason to revaluate my stake in this venture. So far so god by Chinese micro cap standards.
Can you stop warning us now please!
I see it like this! If the company can survive from attacks or legal trouble then in 5 or 20 years this should be one of my best holdings.
I could agree to that but at least we have one board member rich enough to tell when wrongdoings are done.
No he does not but he knows Solomon.
Randal is it as simple as that, we been diluting without management able to compensate by marketing!
Lol, yes and no
No there is no new information in this!
This is one independent board member expressing his support for the company, a very rich one, almost 70 years old, he did business in the oil industry before you were born. He cares more for his reputation than short term profits. You do not know squat!
Why don't you do something about it then, complaining for 4 long years at a meaningless chat board, is not going to change things. I admire your stubbornness and looked into your argumentation but so far it is only meaningless info.
No Joe you are wrong and so far you have not produced any argument that holds up for your crusade.
I personally think that SIAF should not have applied for Nasdaq or bond financing at the time they did. This is unfortunate for the shareholders that back then took it as a trigger to invest. There are manny great investors in the us that could have served as facilitators taking thees steps and guided the company through the process. Although I think that SIAF will one day be listed on the Nasdaq and have access to the financial system outside the roots rock stock market. Tough spot for retail investors to be in.
As I recall the requirement; financing for listening at the Nasdaq was not in any strict terms discussed in the conference call, but that is clearly one major issue. It is very likely that it is an strong recommendation from Nasdaq. guess this is a dilemma!
Breaking News!
JoeN is long SIAF. Judas, Brutus, JoeN they all turned at the end.
P.s great article on Green Polka Dot.
I do not compare CGA with SIAF.
http://seekingalpha.com/article/223746-china-green-agriculture-fails-to-answer-questions-raised-by-ifra
Joe have a macro creating his posts he actually never checks in.
I got them gonna swing trade them!
Yes great i do not readin Nasdaq in this statement what I read is that Solomon is ready to give away some power to one CFO with some skin on her nose "sorry a Swedish expression" and knowing we want here to be independent and strong. I hope she will have lunch with some of the hedge founds in NY to get her agenda going.