hope the note is settled in the q1 22th of may. I hope they give some update as promised on the dividends aswell. This company might be worth less per share, but it is still undervalued.
solomon and the board of directors are untouchable as they reside in china and or have malaysian citizenship. the CFO danny boy has E&O insurance and is also likely untouchable. a class action will go nowhere because it would be chinese CJV assets inside of a HK holding company with an OTCBB listed "holder" of nonvoting nonequity subsidiary interests. putting it mildly, you're screwed. no money to grab. no assets to grab. that's why they have no cash at bank and are selling shares all the time.
I think you should put your energy in suing Solomon
That’s not going to help, is it? Actually, it is even written as a risk in the 10-K that suing is probably refute! lol
If the operations were in Norway then it would have been an option, and I believe that we also would be able to force Solomon out of SIAF even with his a-shares (since he is obliged to work for the best of the shareholders, which he is not doing). Used as a resource in certain areas he is gold, but as a CEO he is a disaster. He doesn’t even understand our perspective; when I talked to him in September and expressed my concern about the declining PPS, his solution was that I simply needed to trade the share...
I will see where this is going before I get angry
Well, so far we have lost 20% of our TRW-dividend. That is not going to improve, it’s going to get worse – the question is HOW much worse. That depends on how many more mistakes Solomon is going to do, how D’Alessandro wants to settle the loan in the end, and how much more delayed the TRW-dividend will be (i.e how many more shares for employees etc). Maybe Solomon wants to grab a butload as well.
Call me naive, but I believe that Solomon in deed has the intention to distribute 18.3% of TRW and that he will implement a cash dividend strategy when/if TRW is financed. Selling with a 80-90% loss is not an option, but I do not like to be deceived. At this point I think it is optimistic to aim for a TRW-dividend that is 50% of what was «communicated» last year (not in %, the 18.3% is still on, but in TRW-shares pr SIAF-share post dilution)
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