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SIAF is the perfect example of what happens when the CEO shows a complete disregard for the interests of the shareholders.
downthehatch: I agree with you completely. That is the last thing we need is a lawsuit.
"diluting will continue until the loan and the loan won't come until 2019". Well this won't make shareholders happy that's for sure. It sounds like a repeat of the reverse split we had years ago.
Does anyone have any information regarding the damage caused by the typhoon?
Responding to post 144850 by aquaculture. "Planting fruit trees in Q2 and getting significant cash flow in Q4".
Many things seem unusual with this company. Fruit trees take months to bear fruit and banks take years to process loans.
I realize the loan is for TRW but who is running TRW. Supposedly some Indian has been selected, by Solomon I assume, to be the CEO but shareholders never seem to hear anything from this individual so who really is running TRW.
I don't believe we ever will get a $10 M loan, far from a $100 M loan, from the banks to a company that has made money in at least 9 of the last 10 years and has already had a 1 for 9.9 reverse split and you are talking about another one. I had been a supporter of Solomon for many years and accepted the first dilution as somewhat acceptable but this recent dilution qualifies Solomon as a totally unacceptable CEO . Companies that are constantly losing money year after year have repeated reverse splits but usually not those making money.
I would really like to know the logic or illogic of Solomon's thinking when it comes to financing the problem SIAF is currently experiencing. The 100 M loan appears to be a lost cause but couldn't SIAF have gotten got a 25 M loan from the banks or used some of the profits that SIAF or TRW is making.I realize this has all been discussed before on the message board but there must be a way to finance this problem other than the current one. It's as though dilution is Solomon's favorite way of financing. Guess I really don't understand all of the problem. Lately, the shareholders never hear anything,
.
RD: Dilution as a means of satisfying debt is so sad considering he offers shareholders no explanation why and there is nothing shareholders can do about it.
Handlamera: I doubt it. This is his second go around on dilution.
"So where is then money from?" How do you know it's not coming from dilution? Solomon seems to use dilution as his favorite form of financing if he gets short of cash.
Agree: I have owned stock in SIAF for the past ten years and I believe, correct me if i'm wrong, that the company has been profitable every one of those years. Yet, the shareholders, went through a dilution induced 9.9 to 1 reverse split and God only knows where we are headed because of the current dilution. As you stated, we are losing money because of the declining SIAF stock price and declining number of TRW shares we will receive because of the increasing outstanding shares. As they say in sports, Solomon is "snatching defeat from the jaws of victory".
RealDutch: What about the 100 million dollar loan to TRW?
Heck, nobody reads my research these days. No, it's more like almost everybody reads your research these days. Thank you for all the good analysis you provide on this message board. It is very much appreciated.
fwb: Agree with you completely. Have bought more shares every year since 2009 but am through buying until this dilution stops. This dilution really upsets me. Solomon diluted the shares years ago resulting in a 9.9/1 reverse split. You would think he would have learned from that experience, but not Solomon, so here we go again.
Solomon not salmon
Here we go again. Solomon diluted us into a reverse split years ago and it looks like he is doing the same thing again. Some posters keep indicating that we will receive this 100 million dollar loan any day now. Considering what a financial genius salmon is, i doubt any bank would give 100 dollar loan to any company he is associated with. It really is sad, this company had so much potential.
abattoir cost: How much did that cost? I thought it was reported as 50 million but that seems way too high.
Bought approximately 10,000 shares in the last two weeks.
Got my cost basis less than $ 3.00 a share. Yea
androo11: It just amazes me that anyone would be short this stock at this price and inconceivable that anyone would be shorting this stock now. This stock could explode if any, or a combination of triggers TS has previously posted, would occur. I think the next five weeks will be very interesting.
Handlamera: Agree with you completely. Just bought 2,000 more shares. Similar to playing poker, got to see the next hand, except we have a lot of information at what will be in that hand.
bandit: What a valuable addition to the message board. Thank you.
"I'll be dead by then" If that isn't the truth. I've owned this stock for 10 years, bought more every year, never sold any and am losing my ass. Emptyone, you have been in this stock as long or longer have you not and have purchased many more shares than I have, so I can definitely appreciate how you must feel.Snow posted a couple weeks ago that Solomon has done a reasonably good job technically developing the farms but financially has been a disaster. I agree with that. Yet I may buy a couple thousand more shares because I still feel SIAF has tremendous potential. For those advocating selling shares at this time, i think that is the worst advice anyone could give. For those owning shares, all you can lose is $0.75 more. For those not invested in SIAF, this would be a good buy. The max you can lose is
$0.75 minus your tax loss reduction and God only knows what your gain could be if things work out. My kind of stock to invest in.
By the way, I'm 86 yrs old so "I'll be dead by then" certainly has entered my mind. So far, so good
Mark-J: Bought SIAF stock every year since 2009 and have never sold any.
Mark-J: Time will tell. By this time next year and maybe lot less, we will know who was right and who was wrong.
Swede: Couldn't agree with you more. Bought 1000 shares today, 1000 shares a week ago,
1000 shares in June, and will add more if it doesn't go up.
Abattoir cost: I keep thinking the original cost to build the abattoir was 50M. I must be wrong about the
cost which seems way to high. Do you remember what it did cost? TIA
Nondividend Distribution: In the US I think this would fall under the category of a nondividend distribution which is usually not taxed. When you sell the Triway shares you received, the difference between the sale price and the basis would then be taxable. The basis of the Triway shares would be, as
RealDutch indicated, $3.50.
Trip-Fontaine: That is the purpose of the A-shares and the only purpose as far as I can see.
emptyone: just bought 400 more shares. However I know how you feel about this company. I think you and I came in at about the same time - 2009. I always have been extremely supportive of the company but this announcing things that are supposed to happen and don' is getting extremely tiresome.
modes948: What about all the hotshots the company hired: Euro China Capital, Arctic Securities, Burnham Asset Management, Swedbank Norway, Bertil Tiusanen. I thought they were responsible for getting the stock price up.
New Jericho Man: I have been watching golf tournaments for as long as I can remember and I have never seen two players so dominate a tournament especially a British Open. This was match play almost from the start. Not only are they great players, they are great individuals. Congratulations Henrik Stenson and Phil Mickelson.
Bought 200 shares yesterday @5.35 and bought 400 shares this morning @4.715. I still think this is the opportunity of a lifetime.
Billy Hilly: I hear old investors saying the same old lines from years ago also.
MikeD2020: I think we all agree with you that smoking is generally speaking very harmful but their
are exceptions. I posted a number of years ago that his smoking worried me.
Fluid: Helmut Schmidt, Chancellor of Germany between 1974 and 1982, smoked 3 packs/day since he was a teenager and died at the age of 96. He was active at least mentally through 90 years of age.
Mauiguy: You are correct. I bought my first shares Nov 23, 2009. I read and have read this message
board religiously and have never seen a day where at least one message was not posted.
emptyone: I read this message board every day and it seems to me that every thing that is negative
is directly or indirectly laid on solomon lee. All solomon has done is develop a company that is only making, I can't believe I'm saying ONLY, approximately four dollars for the year, the best technology in the business, and rapidly increasing yearly sales. As far as ECAB or Bertil are concerned, I'm am not denigrating them, give them another year. i know many of you who I am referring to have been around since 2009 or before, and so have I. We all should have a little more patience. I know this is going to irritate a number of posters and they are going to think "patience s--t", we're about to the end of the line on this but when developing a company particularly a Chinese company, some mistakes will be made. I still believe this is the opportunity of a lifetime.
Asbjorn: What country are you a citizen of because if you are a US citizen it's hard for me to believe it would be tax free.