I've been watching SIAF (and this board) for a long time, i've spoken to Chad a number of times about the company in early 2010 and owned it awhile back then. I was watching SIAF for an re-entry point, hoping to buy some around $1.2 (it was 1.4 at the time) when I saw the latest results and company moves.
I'm here because i'm quite disillusioned in the latest moves of management and keep reading people saying the exact opposite of my interpretation. It seems too much of a positive-only board and figured it was time to throw out some negativity to balance it out. Every company has positives and negatives, let us not fall in love with them and put them on a pedestal.
You can expect me to remain here (Although I certainly won't be posting as much as I have in the last 2 days, LOL). If I see more things I do not like, i'll certainly be vocal about it.
I hope I am proven wrong and they come through with all their aggressive promises for 2011, in which case i'll be more positive on it and a buyer again (if the price is right at that point). I certainly see lots of room for a "miss" given the aggressive guidance with immature business segments though.
I used to like SIAF alot more before because you had the "bread and butter" dairy segment with the "kicker" of these newer less developed business lines. The risk was much lower back then, now it is much more of a 'developmental' stage company. Not only that, but the dairy segment provided continuity of revenue and earnings every quarter -- Avoiding things like Q1 where the company barely makes any money (which never looks good). Hopefully if the fish segment performs, it will provide that 'stability' so you don't have so much seasonality due to the HU segment.
The main reason I have been posting so much the last 1-2 days, since you asked, is that people keep responding to me and forcing me to reply (chuckle).
-Fernando
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