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His position is the direction of the stock price on that given day, don't you know this by now? Even redbull just sold half his position today after saying yesterday he thinks its' going to the 50's and should be buying more etc etc. I agree Garrett should help Solomon in any way to close the Tri-way loan, though I don't know if he has the time, or if Solomon would even be open for help, or if he even needs it since we have no idea how close he is. I think they did a good job not dangling a carrot on the CC with the timeline and simply gave one of the reasons for it taking so long as well as the fact that they continue to remain confident particularly based on constructive loan feedback etc. They also made the comment below:
"If and when successful, the loan will help Sino Agro’s cash flow in two ways: Tri-way will accelerate development of AF 4 and 5, boosting CA revenue and profits and Tri-way will be able to pay back certain debts owed to SIAF."
I don't know if/why there is this unspoken agreement (purely speculative guess) to not repay back certain debts owed to SIAF until the loan is closed but I think it is ridiculous. Perhaps shareholders can push management to start collecting on these debts owed to us.
At least the cash dividend announcement has so far provided a bottom because of the significant yield at these prices.
You don't have to disclose that to me. My point was that it almost seems like nervous posting or something because it is never new information or perspective. If that is the case, you should just cut your loss and move on, reduce your position, or re-evaluate why you invested in the first place. Everyone who is on this board every day forgets that most people haven't even heard of SIAF or the new dividend announcement. OTC stocks aren't as efficiently or quickly priced as most stocks. Clearly, the cash dividend announcement is still being priced in now. As I said before, the cash dividend ultimately gives credibility to SIAF, and once it is paid and people understand the cash dividend will continue to be paid and actually increased heavily throughout the years then you will have institutional investors who will value it not as a "fraud" but simply a company that was financially mismanaged by an entrepreneur that has finally turned to debt financing instead of equity financing and reduced cap-ex into non-core assets to focus on assets with high growth potential. Once this mental shift occurs, which is already occurring at the retail level, and we begin to trade at simply book value then we're talking about trading in the $20's range. SIAF has already made one huge step with the cash dividend. The next is simply to close debt financing so shareholders never have to worry about dilution from the company. Once this happens it's off to the races.
The technicals of SIAF have finally set up very constructively from here. We couldn't hold the 50 the two days after news came out but had a very bullish hammer candle on the 25th, and had another bullish strong day today on good volume. If we hold the 50-day I would be very bullish short term. The new cash dividend has clearly brought in new buyers.
KS, may I ask how many shares you currently hold? You post 20+ times every single day with almost no substance or added value. Not trying to be rude but I can't be the only person that thinks this..
Any ideas on the potential new Tri-way dividend solution they figured out? They said they would give details in the Q2 report but I hope they give us some hints or general ideas on how it would work in the conference call this Tuesday. To me it seems like they figured out a new solution in between the 10-K and this last Q1 report. They went from talking about using warrants to distribute the 12.71% and looking into another solution for the remaining 5.59%, to now having a newly materialized solution for all 18.3%. Compare the language from the 10-K and Q1:
10-K
Cash dividends show management actually cares about shareholders (even if their poor financing decisions got us into this mess) and intend to reward them. I view the new cash dividend policy as an implicit commitment to back off dilution. The Q1 numbers showed a smaller and more profitable company due to decrease in CapEx and getting rid of unprofitable assets so their cash flow situation should improve going forward. The most important factor I see is the shift in mentality with Solomon which is something no one is really recognizing which is the truly astonishing part. I don't know if it was a combination of Garrett and others around him/the failure in the abattoir/or seeing the stock price plummet but he is at least listening somewhat now, whereas before that would not be the case. He would be focused on hypergrowth and not paying out cash to shareholders.
I believe there will be an explicit commitment to put a cap on the outstanding share count once the $100M USD Tri-way loan is secured and announced. I'm not sure if you have been following about that part but this loan has been ongoing for many months now with several unforeseen delays along the way but now they are in the "advanced stages" and are still very confident in closing it.
Another reason for the share price decline is that the company spoke about distributing Tri-way shares to shareholders last year and we still have not received them so this has been quite a delay to say the least..
However, in the 10-K they targeted the Tri-way distribution to occur in Q3 and in this past Q1 report they said the following which I view very positively:
"To date, an option allowing for an almost tax-free burden to the Company appears to have materialized while still providing shareholders an 18.3% distribution of Tri-way’s fair-market value. The Company intends to issue the details of the course of action it seeks to implement in its Q2 2018 report, once the final details of the arrangement have been cleared and readied for implementation."
I've always said 3 things will take the stock back to previous levels (cash dividend, cap on outstanding share count, and distributing the Tri-way dividend to shareholders)
So now we're 1/3. 2 more to go.
Cash Dividend Policy Finally Announced:
"Under the advisement of its Board of Directors, the Company has decided to issue the following cash dividend for Fiscal Years 2018 and 2019:
· For year 2018: $0.05 / share to be declared and payable during Q4 2018, ex-dividend and payment dates to be determined.
· For year 2019: $0.05 / share will be declared and paid semiannually, ex-dividend and payment dates to be determined, for a total cash dividend distribution of $0.10 / share for the year, plus, in addition, five-percent (5%) of the amount exceeding the Company’s annual net income of $20 million in FY2019 to be declared and paid as an additional cash dividend during the subsequent fiscal year (i.e. sometime during FY 2020).
· It is the Company’s intention to carry-forward the cash dividend policy being implemented for FY2019 into its subsequent years of operation and will inform its investors as to its cash dividend policy for FY2020, FY2021, etc. as these years approach, accordingly."
I'm reposting for people who come to the board wondering what happened to the share price since it gets buried in the posts. People will continue to see how much the price can move if the company simply follows through on milestones as seen today. Next step, close the loan and put a cap on the outstanding share count. Then distribute Tri-way shares in Q3.
Andrew, thanks for sharing your phone call. Feel free to post more details if you remember/have any. I think Hollywood could make a movie out of this story once it all plays out. To me, it has been clear for some time that someone has been aggressively trying to bring the stock price down and apparently Solomon believes they are doing so to try to take over the company. I wish he would openly share this information to all shareholders. Throughout this entire period he has continued to have an attitude of, the shorts won't matter in the end because once we get financing and buy back stock they will get burned. But alas, we are still waiting for them to procure financing.
I don't think I entirely understand your response but I obviously don't think FD has ONLY been good for this company, but he has absolutely done more good than bad. I do understand his actions since I think ultimately FD wants to make money. However, I would argue the company wouldn't have seen $17 so quickly without ECAB stepping in. With the COSO strategy progressing Tri-way is now an independent company that can raise financing on its own at much better terms than SIAF and if they close the $100M Tri-way financing the stock price will trade at many many multiples higher than now. It will be the equivalent of ECAB stepping in back in 2014 except we are trading at an even more ridiculous share price now, and the financing amount and terms will be better than what ECAB provided.
As I said, if Solomon gets financing and stops printing shares, we will see FD publicly get behind SIAF again and help the company where he can.
Again, have you verified this with the company? No. You don't need to, according to you. You used to also post warnings in bold capital letters shouting that collateral shares were being dumped (recently proven false), then it became ECAB that was the "dumper" who someone close to ECAB apparently refuted as well. You speculated on Solomon's A-shares being given up (proven untrue). I can go on and on, my point is you should actually check with the company before repeatedly posting as a fact that they had this money and gave it to Tri-way, particularly since Tony says they didn't get the money. I'm fine with people speculating about things on this board but you always claim nothing you say is a speculation because "you are always right".
And you keep saying it's not about the loan. I'm actually beginning to think you're unable to understand that even if it's not about the loan it doesn't matter.. If Solomon wants to wait until the loan, he will wait. In business, especially at an executive level, rarely do people respond to threats and angry emails. Garrett's diplomacy has done more than any amount of angry emails or angry posts on this board.. I view things as they are, not as they "should" be. I suggest you begin doing so too or you will continue to be disappointed.
Help? Maybe. Maybe not. And I'm not making the mistake..As I said before I am all for your plan to start paying cash dividends yesterday, but I am also realistic and know Solomon likely won't do that/can't do that. I would prefer any cash go towards paying off ALL of Garrett's loan so the company doesn't have to issue even half of his $4M loan ($2M) in shares. Most would agree with me. I would love if I'm wrong and they follow your advice, I just don't think they will pay any cash dividend until the loan is closed, which could be next week or next month, I don't know. But best case scenario to me is they give an amount and time for cash dividends in Q3/4. In the mean time I don't know who's bankrolling the short sellers but I don't mind it so long as the details of a cash dividend are released since it implicitly caps the outstanding share count as well. And once the Tri-way loan is closed they can explicitly cap the outstanding share count.
Wow you're one of them? Keep up the good work please!
You are absolutely right RD. Cash dividends will create a shift in mentality, or as I have just said immediately legitimize the company. The shift in valuation from a company that the market believes to be a fraud to a company that has just had poor financial management decisions etc, is an enormous difference. What Garrett, myself and others have said is that I don't think they will pay out the dividend until they have the TRW loan closed. They could, however, announce the amount and timing of the start of cash dividends at least, which is what I have advocated for.
I think the conventional financing that was mentioned earlier are the 2-3 loans that are for Tri-way not SIAF. I thought they were for SIAF but I guess not. Any financing Tri-way gets benefits SIAF either way. The main part is getting management to force Tri-way to start repaying debt are at least explain why they haven't. Maybe they won't do it until financing is closed, I don't know. I assume they'll explain on the Q1 call on the 29th.
Didn't Challe make most of these videos?
As someone already mentioned before, they have plans to hire a new PR to start a PR campaign once they get Tri-way financing.
As I've said several times, there are financing issues that are the fault of management, but nothing justifies this company being worth $10M USD. You know why they are continuously posting here. Why do you think they constantly write to other people on the board telling them to "just sell"?
We know they are in the "advanced stages" of finally solving these financing issues with the $100M Tri-way loan. They have recently stated, "Using funds from investees, SIAF anticipates being able to pay an additional cash dividend at the SIAF corporation level to its shareholders sometime in 2018, with the intent of increasing its dividend payment as the investees develop and provide stronger dividends to the Company." We'll find out in the Q1 report as they said, "More details regarding distribution of a possible cash dividend in 2018 will be made available in the Company’s Q1 2018 report due in May, allowing the Board additional time to assess both the amount and timing of the dividend based on current activity, still underway."
Now I have been very adamant about doing what little I can (since I have no influence on the company, even Garrett realizes this himself) to try to push management to make this happen ASAP. Garrett thinks they won't do it until the loan is approved while RD thinks they can do it before. I side with Garrett in that I believe they won't do it until the loan is done (although we could get a loan announcement this month), however, if they are serious about their confidence in the loan then they should announce a deferred dividend in Q3 or Q4. The point is they're finally going to pay a cash dividend. That was not in the conversation before and gives me hope shareholders have some influence, even if it is little. And again maybe this just came from ECAB or Garrett, who knows.
And if in a month from now the Tri-way loan has been announced, they give the amount and timing of a cash dividend, and can finally put a cap on the outstanding share count, shareholders will certainly feel different about the stock and the price will reflect that.
Exactly, Garrett should push to force Solomon to make Tri-way pay a part of the debt back to SIAF for a small cash dividend. And perhaps this is what is being done if we get a cash dividend announcement in the Q1 report?
I have completely speculated that maybe the Tri-way partners don't want to pay debt back until Solomon delivers the $100M loan? This is pure speculation though, I have no idea.
All he cares about is having the money to finance growth in the company. He is finally going to get this through conventional financing with the syndicate banks. Once that is done, he won't have a need to raise the O/S ever again and can put a cap on it, particularly since he is on a very tight leash with Garrett and I assume ECAB who have gotten him to slow capex and just focus on import/export, Tri-way, CA.
I have never had nor claimed inside info....
Is this claim similar to your interpretation of Dan's claim where he clearly said he can't provide a timeline for the loan, which you translated in your head as, "it will be done next month and if it's not then the loan must be dead", which turned out to be dead wrong even though you continued to keep shouting it on this board. Also, why don't you actually stick to your word and sell your shares like you said you would? And yet you call Solomon the liar. You're just full of broken promises it seems. Not sure if you have a life outside of this board but you must be a real joy to be around in person.
What do you expect him to tell Solomon? One option is to get him to push Tri-way to start paying back some of the large debt they owe SIAF. We'll see what they say in the Q1 report but if they are confident in the $100M Tri-way loan closing they can simply say they'll pay a deferred dividend starting in Q3 or Q4. That'll give them plenty of time to close and get debt repaid.
You do realize that price is simply a reflection of trading at that given time and that buying and selling can always change within a day? Just because we trade at these levels does not mean we always will. As I said it all comes down to closing the loan, putting a cap on the outstanding share count and then beginning shareholder friendly actions. We have the Q1 report next week; I hope to see cash dividend information in there like they stated in the 10-K. I expect to see some sort of deferred cash dividend details. I don't think we'll get the annual CC because I think they were delaying the annual CC in hope that we'd get loan news before but now we are close enough to the Q1 report that they feel we'll just wait until the Q1 CC. I expect an explanation as to what why new shares were issued and what specifically they were used for. That new poster Night claimed he knew why but never provided a more detailed explanation.
I agree with what you've stated and unfortunately we have to wait until loan news or perhaps good news in the Q1 report like cash dividends etc.
Roughly 1-3 million shares was his estimate as I said before.
I think the best alternative right now besides announcing a cash dividend to be paid some time in 2018, which I hope we'll get details on in the Q1 report in a couple weeks like they said we would in the 10-K, will be for the company to sell some assets to raise cash (Though I think they believe the loan is so close to closing they unfortunately haven't seriously considered this yet).
Another alternative is to put pressure on Solomon to make Tri-way repay back some debt. I am guessing there may be some "gentleman's agreement" where Solomon has to secure financing before Tri-way repays the debt, but with the delays it is getting ridiculous to not repay now. Obviously they probably can't repay all of it but at least some. Tri-way made the last few payments on the collateral share debt for us so I know they do have money. Maybe it has to do with keeping Tri-way's balance sheet pretty to secure the loan? Putting pressure on management has gotten Solomon to consider cash dividends over share buybacks. I believe these are the next steps to get management to do:
1) Sell assets for cash.
2) Make Tri-way repay some debt owed to SIAF, and at the very least provide an explanation as to why this hasn't been done yet.
Lol in all seriousness have you noticed certain posters who used to say all the dumping was coming from collateral shares being topped off? Again, I am not excusing Solomon's actions but he is right to focus on closing this $100M loan. What are your suggestions? I would be in support of selling assets to raise cash. This was talked about in December's conference call and the company has done it before. Solomon's change to support cash dividends shows he actually has the ability to listen and change his mind regardless of how obstinate he is. Give me suggestions. The ones about ending the increase in outstanding share count are already being worked on with the loan, that's why I don't understand.
As RD said, a majority of the outstanding share count increase came from collateral shares (which will be returned back) and ECAB shares for $3/share (close to 10 times higher than current prices) which reduced our debt obligations.
Management is more than aware of the financing issue and has been trying to solve it for months now. The first delay for the $100M loan in the beginning of the year was due to the collateral. They had to revalue the collateral and this was resolved by pledging resources from Tri-way partners. The second delay came because apparently one of the bankers changed companies and the new banker that replaced him had to review all documents over again and even asked for new ones. As has been said before, they are now in the advanced stages and are very confident they will finally close it. Once this is done, they can put a cap on the outstanding share count for good. In the 10-K, they told us they would release details about a possible cash dividend in 2018, so I assume this will be paid out some time in Q4.
Nice little short attempt by you guys. Try posting more times next time..
What do you mean? They're very aware. Unfortunately they can't do anything to speed up the loan to put an end to dilution. I know there were delays that occurred that were outside of their control but they say they're in the advanced stages now.
RD in what document and on what page does it talk about S's compensation structure you guys keep mentioning.
That's why the priority is to get financing done but they've had multiple delays which is why we're left still waiting. Then they can put a cap on the outstanding share count. They're aware, they just need to get it done, period. But when they do I expect fireworks. When? Your guess is as good as mine.
They're always waiting on loan news but they will PR news not announce it during a conference call. Announcing the conference call has nothing to do with loan news. Just don't want you to be disappointed if/when they announce the conference call date. Hopefully Q1 report brings the supposed details of cash dividends and they don't delay it further. Hopefully we get loan news before the Q1 report but I hope without loan news they will at least still begin a nominal dividend of some sort as RD has suggested and just let shareholders know that this can always be raised upon securing financing in the future. However, as Garrett has mentioned, I wouldn't be surprised if they wait until the loan is secured before announcing any sort of cash dividend policy. Let's see if they surprise us.