Maui--I understand your position, and I don't think you have ever been unreasonable. I've also been here for a very long time (though not on Ihub from the beginning), from before the time of JF, I believe. My position is that Solomon is a remarkable deployer of capital and therefore should be given some free reign to operate the business. When I calculate the math of dilution, I can't see that it severely depresses earnings even in the first year and it certainly raises it in the second year and subsequently; so what any reasonable objection to his leadership must amount to is the depression in the stock price. I find that as distressing as anyone here, but I am perhaps more forgiving than most because there is a promised end to it (which may come much earlier than anticipated), and the rewards at the end are so enormous (once in a lifetime!). I don't feel that I have enough understanding of SIAF's competetive position in China to judge whether or not this dilution has been necessary, and I don't feel anyone here does either. But I agree with you that it's reasonable to expect Solomon to explain why it is if the questioning is respectful of all that he has already accomplished.
