And earlier it has said that they would be returned in March (?). Can't blame people for being sceptical, although such renegotiations aren't uncommon, and we all know how much trouble SIAF has had cash-wise.
They have said this before as well, and then later stated that they could. Now we're back to that they can't. Again; can't blame people for being sceptical with these amateurs :-(
The problem is that Solomon doesn't have credibility. He might write whatever he wants, but as long as he keeps hiding stuff from us - especially after the messup with the dividends - we just can't take what they write at face-value until it has been proven
look, we are in the business. that's how you get 70% loan to "value" with something that isn't marginable.
you think a "bank" will pledge $1 million bucks and give you $700k and the underlying shares fall -90% and there's no selling and the bank is extending $700k for what? only $7k in remaining value? obviously this is ridiculous and fake.
So that's roughly 13 million collateral shares whose loans matures in september. Then something will happen. I hope that the company will manage to handle this in a good way.
It is both a risk and opportunity. I wonder how the company will handle this. How they will get the money to pay back e.t.c.
If the trade facility is reduced it will also mean less income from the trading business.
The opportunity is of course that the company can pay back some loans and/or re-negotiate them without having to give as many collateral shares.