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Final batch before record date?
Could be a fun day at OTC if we don't get any dumping
Impossible to buy shares at markur now without pushing up the price 25%
I'm sorry but you didn't get the facts right regarding SEC investigations.
The first step in a SEC investigation is typically an informal investigation (MUI). During this stage SEC relies on the cooperation of the relevant individuals and entities to gather information. Upon conclusion of an informal investigation, the SEC may close the matter or bring an enforcement action or seek a formal order of investigation.
In May 2012, SEC suspended trading in the stock of 379 penny companies at OTC. So your fine argument is also incorrect.
I used to work as an auditor at Deloitte and we would have no issues whatsoever to confirm the reason for resignation. So this statement is unfortunately also incorrect.
Please ask your good old friend Joe if the auditor speak to anyone or not. His only argument in his sec complaint (which was rejected) was that the old auditor had told him something.
You guys are amazing.
Thanks for sharing
Why should he know? Obviously they're struggling with it.
From the AR break down not. Trading terms stipulates payment from Trw within a year for ordinary AR. Aging of the 5.8 is older than 180 days but younger than a year. Then you have 3.4m AR to Trw older than 91 days but younger than 180 days but those are not included in the 5.8 above.
Above has nothing to do with the 43.3 in connection with Siafs 36.6% ownership in Trw.
According to the 10-Q we could expect $5.8m of the AR to Trw to be paid to Siaf in a not very far future.
Also find it great that SJAP don't need more cash from Siaf and that they have some initiatives getting income without investments like the HSA leasing contracts and the partner for the plantation who will invest and manage some of Siafs land in exchange for profit sharing.
Again, working capital is down significantly since Q1. Free cash flow = EBITDA plus changes in working capital minus capex
In the actual 10-Q they reprinted the cash dividend policy. So no doubt I would say. Some of the money should come from accounts receivables from Triway, $ 5.8m over 120 days and less than a year. AR from Trw is to be paid within a year so we should expect a large portion of that to be paid out to Siaf before the first cash distribution.
Other nice stuff from the report:
Working capital is down: From $ 183.9 in Q1 to $ 170.6 in Q2. You should analyse WC at a total, not just the individual sub levels like inventory or AC which will fluctuate over the quarters.
SJAP no longer sucks liquidity from Siaf
They have implemented possibilities for increased cash flow without capex. E.g lease contracts at HSA and by letting a partner finance and manage some developments at the plantation.
The Garret deal: The toxic ghost is gone and we have excellent support from a brilliant man.
Progress on the trw distribution. We will get detailed information on the stock dividend within a few weeks.
Overall a great report given the circumstances. Great that they filled in time.
Off course, but in order to decrease the heavy discount, they must start to behave like adults. If they release updates about the stock dividend, you want the market to believe in that information in order to get the maximum output from a trigger being hit.
Garret for instance expects the market cap to be twice the amount of books in a few years. For that to happen, it's not enough to hit some triggers, they also must act like professionals.
In the past they at least released to earnings. Now only the turnover....
As you are aware of, the market doesn't trust the management. One, easy step to gain some trust is to fill the financial report without using an extension where Solomon must explain to SEC why he didn't manage to fill on time. Heck, they aren't even an accelerator filler anymore.
You are like Bagdad Bob if you consider it irrelevant if they fill in time or not. As I said before, the don't fill in time if they need to report the reason for being late to SEC. Do you agree?
Lol. You should be able to do a sanity check by taking the volume of the tanks and open ponds times density times growth rate. Then you should find out that the figures make sense. If you don't believe that the ponds and tanks exist I suggest you take a look at the satellite pictures or speak to people who have been on-site.please stop this nonsense.
As always, I appreciate your contribution to the board. Way too many here interpret the available public information in the most possible negative way as long as we haven't gained 10+%.
That said, the dumping must stop. As long as we have dumping, the company will never gain trust of the market.
When the 55 cent batch is over, we should climb over a dollar even without news. With no dumping, news on stock dividend and x-date for the cash dividend we should trade around 2$-3$.
Haha, Mr. King of swinging Siaf :)
The main issue here is the dumping. So far I haven't received any good answer from the company why they haven't stoped. Amazing that they don't take this more seriously. The dumping is what prevents us to go up. The can talk all day about prawns etc but the market doesn't care as long as they continue to dump shares. This is by far the most important question. For the record, I bought more shares today.
I urge everyone to send emails to the board members about this. Please, don't hesitate to call them.
Yes, it's hard to disagree about the TRW loan since they were acting like this was a sure thing and that they already had the cash on the bank. Now we have suffered the consequences in terms of dilution and record low market cap. They should have sticked to the original plan with pre IPO investments prior bank financing. Not saying the debt financing is dead but obviously it's way more challenging than their first indications.
The main driver short term will be updates on the stock dividend and continued operational progress for TRW. Then in December, the first 5 cent dividend will drive us higher.
When we least expect it we might be surprised with news regarding financing etc. Didn't calculate with it when I yesterday decide to increase my stake further.
The dividends must be paid within the stipulated time. Or they will do more harm than good. Period.
Last time they delayed a cash dividend (the F-shares), they did more harm than good. The cash dividends before that did the job. I think the company are aware of that they can't afford to delay the cash dividend.
I think the most recent dilution has to do with debt settlements where the alternative to short term dilution would cause even more dilution. Hopefully we are through this, however, I thought so also when we hade the 19 ?days without increased O/S.
Tnx RD. very appreciated as always. Please, share the rest of your findings!
Well, I have to disagree with you here. Your Capex plan represent plan A, that is if Tri-way obtains all the additional capital that they are looking for.
Until then, we are at "plan b", hence I don't expect additional buildings at the MF, more like converting ponds to second or third generation ODRAS with less than 3 years payback time.
Yes, I do agree with you that the Savage one has underestimated Capex and difficulties with obtaining debt financing in the past.
I'm as frustrated as you. My guess is that this has to do with debt settlements. My guess is that they relied on having obtained financing already. This is of course very bad financial planning.
They have the money for the dividends if they take a break on capex or if Trw could repay some debt to Siaf.
Yes, looks extremely promising. If this turns out to be successful, gross margins and profits will explode at AF4/Trw.
The Savage one.... Really hope this is the last batch of the 55 cents dilution.
Tesco replaced their main Chinese partner. That partner had unfortunately other plans than the SJAP cooperation.
Only an update regarding aqua farm 4. I was expecting some kind of guidance but perhaps we just get some research updates.
We'll get an aqua update shortly
And this is why we are trading at current levels. No matter what happens with Siaf, people always interpret the worst and say F U Dan, F U Solly etc. Even during this non-event.
Personally, I increased my stake today. I intend to collect my 5 cents cash dividends semi annually and receive the X-date for the Trw distribution.
Snow. This is neither "wishful thinking" or insider information. It would be insider information if someone would have made me aware of the content regarding the update. Not that I got confirmed that they will release information about a topic that they in public, on the conference call, said they would.
I don't have a source for insider information. However, as a long term investor, I'm in touch with people involved in Siaf. But to be clear, I don't have access to insider information.
My impression is that the update on aqua farm 4 is what we'll get for now. I consider an aqua firm 4 update more relevant than the other firms since we know they are doing great all ready.
It's public information (from Tony during last conf.call), that the company intends to release additional information about the Aqua farms in June. So don't understand how this could be considered as insider information.
Yes, it seems like we only get an update for Aqua firm 4 if my source is correct.
Exciting times ahead. On another topic, I'm pretty sure that we'll receive an update on Aqua farm 4 during the weekend.
Makes sense. Just got confirmed from Peter that it seems extremely unlikely that SIAF has invested in a tech company.
If this is not false information (for IR to confirm), I guess it has something to do herbal health tea product which had attracted the interest from one of China's best brands in health and herbal products. I guess for an equity swap if that is the case.
https://www.kao.com/global/en/about/global/fields/
Consumer products, human health care business equals 20% of sales. Operations in China. What do you think?
I guess this could be false information. If not, I guess it has something to do with the HU plantation (equity swap).