Results of the OTC share count and telephone meeting with Solomon
During the past weeks I have totally received about 55 emails owning collectively about 1,85 million shares on OTC. In addition to that Rockhill Investors claim to own about 2,5 million shares, but that number is not completely up to date. In addition to these shares I reckon that there must be investors that we have not been in contact with who holds more shares.
According to my calculation, there should only be 1 million shares on OTC. So even if my calculation is a bit of or my share count is not completely correct, there is for sure to many shares on OTC.
I finally manage to get a telephone meeting with Solomon this morning (Mexican time), late afternoon (Hong Kong time) to discuss the issue about my OTC share count. I will try to summarize what was said during the phone call.
- He think that there was something misleading with my OTC share calculation, but he would look it up. He thought that the difference should be 2 million. He mentioned something about shares being reserved under Broadridge.
- He would have a meeting with “the boys” tonight to put up a field frame including this issue to for the agenda for the annual meeting. Then they can put out the result from the annual meeting in a newsletter. More importantly, they are planning to announce a new buyback/dividend share issuance policy.
- Solomon reckon that it would only take a $20 million buyback program to get the share price up to $20. This is what he is leaning for right now. He just need some time to get this implemented.
- Solomon wanted payback a loan earlier than maturity date to show that market that they can buy back the shares.
- He is still positive about the Triway loan.
- There is no restrictions on any agreement with the lenders restricting SIAF to get back the shares from the lenders as long as they pay the interest on the loans and finally paybacks the loan.
- Instead of me asking allot of question during the telephone call, I suggested to make a QA section on the investors relation section on the homepage, he liked the idea and would bring up the suggestion during the meeting. I will prepare some questions during the weekend.
But remember that I can have misunderstood what was said during parts of the phone call, so don't use what I have written here against me or Solomon in any way in the future.
I can't say for sure why we have to many shares on OTC and where the constant supply of shares are coming from. But regardless of the source of shares, a buyback/dividend plan in combination of paying back collateral shares will rectify all these issues imo. I'm suspecting that we will have an extrem short squeeze of some short once the new policys are implemented. Last year the proxy meeting was held Nov 14, so I guess that this year proxy meeting should be around that time this year also.
News 
Market Data 
Discover 
