I was just coming to post that I got an email update too. My email just clarifies the 60% confusion. It says the exact thing the yahoo poster says in answer #2
5. The management is trying very hard for the Company to survive in this difficult timing and I believe if we get the investment successfully at this time...
Again, I think yesterday's hyper-focus on "60%" was the wrong thing to worry about...
1. Mgmt trying very hard for company to survive
2. difficult timing? COVID, Trade War, financing difficulties?
3. IF WE GET THE INVESTMENT SUCCESSFULLY? If they're on the ropes, how strong will their negotiating position be? How much DILUTION is coming, or loss-of-control (different class of stock w/ super-voting-rights or something?)
I'm not sure why Q1 and Q2 couldn't be produced - sales, costs, and footnotes explaining whatever issues they're facing. That's what 10-Qs are for.
"The loan-program work slow than we expected, but it gets better and the farmers like our product. The Agreement with Shaanxi Agricultural Credit Financing Guarantee Co., Ltd. for the loan-program started on July 22 and the Agreements with banks need to wait complete the 3q shipments than bank would fund the loan to the farmers to pay the company."
3q shipments completed by September. Presumably Postal Savings Bank of China will start executing on cash to Kiwa Biotech in October.
Cash flow into company should pick up soon with Chinese investors funding Kiwa Biotech in mid-September and banks funding over from October (& possibly new bank loan before end of September).
Both Chinese banks and Chinese investors providing financial support to Kiwa Biotech is a vote of confidence for KWBT.
Still no mention of the share structure in the future. Will there be a new class of common shares for the up-coming investors? Will they dilute the existing class of common shares further to accommodate the new investors? Will existing shares continue to exist? That's what's is the most important question to me.