Three representatives from Penser joined the Investor Tour last year. Over drinks in a small, informal setting, we heard encouraging and positive indications from them. In retrospect, I think they may have been trying to close a potentially lucrative client, and it was "whatever they want to hear" sales talk.
The idea that "everyone knew except Solomon" is likely inaccurate. I do think that perhaps he was overly optimistic about the FN listing schedule, but he was led to believe that the process would take about three months.
Now, nearly a year has passed. For the first quarter, really the first five months, Solomon believed a solution was at hand -- the FN listing. Well, that didn't work. Unfortunately, it's not happening on a favorable timetable. I believe that SIAF has responded to all of Penser's requests. Penser continues to reset the "finish line."
I hope they'll reach a satisfactory resolution while Solomon is in Stockholm.
The areas of business that have been under Solomon's control have thrived, or seem resilient to setbacks. Those that are not under his control have been problematic. ... Just sayin' ...
I am rightfully frustrated, along with you. But the upside is real. Since holding my shares will not cause a financial burden, I will hold for the rewards that I believe are ahead.
AI
