I'm not staying to wait for the 5c. Too much pain.
How about 150c? That's what the stock dividend is worth, assuming 40M O/S. At 40,000 MT, 4x as much. At 100,000 MT, 10x as much. Assuming we don't get a premium P/E in Hong Kong, which we will inevitable get with such a growth rate.
You need to focus here. The only problem is, if we get more delays in Q3. The TRW loan shouldn't be a problem. It should either be signed or cancelled by then. But I don't want to hear any nonsense from the company about any pre-IPO potentially interfering with the distribution. They have already been warned, about the class action lawsuit.
Didn’t they just state a new policy with less dilution?
Not really, if any then the opposite.
I think I will change my number one question to the following; why is it (or at least has it) been impossible to get money from TRW to SIAF? Is Solomon unwilling or unable to? And will this change going forward?
For me both options are probable; 1) He is crazy enough to only take care of his new baby, and let the SIAF-shareholders suffer. He might even justify that with a big gain in the end, but I don't think ANYTHING can justify dilution at 2% if it can be avoided. He might even have a plan for how to get these new shares back, but he can't disclose that of course (at least not more than the fluff in the Q1) - if the latter is the case then he has a huge dilemma balancing between massive lawsuits and destroying the company.
2) He might not have the power in TRW that we think (might be some clause in the COSO-deal about when TRW will repay SIAF), and/or that the partners are just as pissed as we are.
Purely speculation here of course, but he doesn't give us any choice when he keeps us in the dark. Anyone planning on submitting questions for the CC that want to include the question of whether TRW will start to repay SIAF now? (i.e before TRW-loan)
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