I wonder what was the point of the dividend and any future ones? And I guess not many believe the 55c crap anymore. I still believe the way Solomon does business with non-secured credit, is hopeless and makes the scale of his current business model worthless. Better to sell less with cash on delivery than giving a big part of what you produce away for free.
I honestly can't get from the numbers why SIAF has to issue so many shares.
MEIJI was a bit of a problem in Q1 but it wasn't in Q2. SIAF's trade division in producing cash flow as usual. The fact that SJAP may lose a bit of money shouldn't affect SIAF at this stage. HSA is not a problem either. Neither is HU IMO because they can see it coming.
IMO Solomon financed TRW with roughly $20M in Q4/2017. Did he finance the TRW trade division? Capex may also have gone to the plantation.
So when a potential contract for CA didn't materialize and the $100M loan was delayed and delayed, that's when the problems started. TRW's money was locked up.
The explanation for the share issuances they are giving us is not the right one. IMO. The BOD was reckless and now they are afraid to admit it.
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