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Yongye International, Inc. Message Board

mekong22 22 posts  |  Last Activity: Aug 25, 2014 9:14 AM Member since: Nov 10, 2010
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  • Reply to

    SALLY?

    by jesseliverspot Aug 22, 2014 12:59 PM
    mekong22 mekong22 Aug 25, 2014 9:14 AM Flag

    Yeah, gotta hate the way she grew the company such that my shares are worth ten times what I paid for them. Must be a lack of ability to govern ;)

  • mekong22 mekong22 Aug 18, 2014 3:58 PM Flag

    you're absolutely correct. I stand corrected. Looks like they really needed that liquidity pretty badly to stay afloat

  • mekong22 mekong22 Aug 18, 2014 11:47 AM Flag

    that should say mostly "sub" 40c. They all have varying strike prices, but the average as per their 10-K's and 10-Q's is less than 40c

  • mekong22 mekong22 Aug 18, 2014 11:45 AM Flag

    I agree that I wouldn't buy this company's shares until they start making some significant sales for cash

    However, your comment about lowering warrant prices is just plain wrong. They didn't (and couldn't) lower a warrant price. Consistent with all of their prior SEC filings, the warrants all had exercise prices based on the time that the warrants were issued, mostly 40c. There are still many more of them, outstanding at these low strike prices. If you aren't factoring in the exercise of those warrants (as well as all of the others that are outstanding at sub 40 cent strike prices) then you aren't factoring in the guaranteed future dilution properly (assuming that the stock price stays about 40c in the future which is a big assumption to make right now). They wouldn't be a problem if the company expected to sell $12m of sales for cash this year, but if the company isn't getting paid for their sales, it really doesn't matter what warrants are outstanding.

  • mekong22 mekong22 Aug 12, 2014 9:14 AM Flag

    what good news? I was thinking if the non-cash sales were $1m or less (of the $3m Q2 revenue they preannounced), that would probably be the most I would be willing to see and still hold my shares. It turned out that non-cash sales were 90%+ of their Q2 revenue. They weren't able to find any customers willing to pay money for their licenses during the quarter. That's not good.

  • Reply to

    This smells like a scammmmmmm!!!!!

    by go_baby_go75 Jul 2, 2014 11:02 AM
    mekong22 mekong22 Aug 11, 2014 2:29 PM Flag

    It's definitely allowed under US GAAP accounting rules, so this is technically ok revenue. However, as an investor, would you want to invest your money in a company where the majority of their sales will never be paid for in cash? It's especially troubling that they didn't explain what these $2.9 million of prepaid services they received (instead of getting paid cash for most of their Q2 revenues) are actually for. This is different than the two-thirds of their Q1 revenue which were exchanged for licenses (also non-cash generating sales), at least we knew those were licenses of some kind, the $2.9m prepaid assets received could be anything. I tried to get through on the earnings call to ask this but they ran out of time before getting to my question.

    Until I see them recognizing revenue that will actual turn into cash receivables and ultimately cash in the bank, I'm back on the sidelines on this one (sold all of my shares as soon as I saw the $2.9m non-cash sales in the 10-Q just before the earnings call started). I would also obviously need to know what the big prepaid expenses are for before I considered investing again. My guess is we won't get to see this in their next 10-Q so will likely have to wait at least until the 10-K is issued next March before we get any details around the prepaid expenses, if at all.

  • Reply to

    doneatforty

    by ringwise50 Jul 29, 2014 10:59 PM
    mekong22 mekong22 Jul 30, 2014 8:55 AM Flag

    It is so amusing that these shorts/arbs feel so burned that they didn't get what they hoped for in the YONG deal that they are still spending their time on a board for a stock that doesn't exist anymore to try to rip someone that made a nice profit on that stock.

    jealous much ringwise?

  • Reply to

    Office Pool

    by aaatrophymart Jul 11, 2014 10:50 AM
    mekong22 mekong22 Jul 17, 2014 8:49 AM Flag

    there's absolutely no way it IPO's in Hong Kong for as little as $20. Minimum $40 per share

  • Reply to

    Merger Effective Today

    by doneatforty Jul 8, 2014 10:09 AM
    mekong22 mekong22 Jul 8, 2014 11:24 AM Flag

    I see that my YONG shares are now removed from my eTrade account online, so hopefully the cash will be deposited shortly.

    jlp - I'm not really looking at anything like YONG at the moment and probably won't again anytime soon. I'm mainly looking at companies that are dominating their market, have a good moat, and are in an industry that's likely to grow a lot over the next 10-20 years. AMZN and LNKD are two in particular that I'm happy to see are down a bit today.

  • Reply to

    Merger Effective Today

    by doneatforty Jul 8, 2014 10:09 AM
    mekong22 mekong22 Jul 8, 2014 10:59 AM Flag

    I certainly don't mind seeing the markets down today right before I get a whole bunch of capital to redeploy. Hopefully we'll have a couple days like this before I'm fully invested again

  • Reply to

    It has been fun - and profitable.

    by doneatforty Jul 3, 2014 3:01 PM
    mekong22 mekong22 Jul 5, 2014 9:35 PM Flag

    The same to you! Best of luck in the future and enjoy the rest of the holiday weekend

  • Reply to

    Still no voting numbers announced

    by mekong22 Jul 1, 2014 9:37 AM
    mekong22 mekong22 Jul 1, 2014 1:28 PM Flag

    done, I think you're misreading it.

    The first line (with the 39m) is all common and preferred shares combined including the votes from the buyout group's shares

    The second line starting with the $6.5m is just the preferred stockholders votes

    The bottom line starting with the $20.8m is the vote that mattered to us, this is the votes from non-buyout group shareholders.

  • Reply to

    Still no voting numbers announced

    by mekong22 Jul 1, 2014 9:37 AM
    mekong22 mekong22 Jul 1, 2014 11:36 AM Flag

    done - thanks for that. I somehow missed it as I assumed the original 8K was just the press release and that they would show the votes in a separate filing a few days later like last time. The interesting thing here is that actually had enough votes in favor of the deal that it would have passed even if they didn't change the voting rules, so even if all of the non-votes counted as votes against, they still would have approved it. There were also many fewer votes against the deal (likely because they didn't actually sent out new proxy's informing shareholders that there was a vote, which still seems illegal somehow).

  • When they had the first vote for the $6.70 buyout, it was announced on March 5th that the vote was not approved and then seven day later on March 12th, they issued an 8-K showing the details of the voting numbers.

    This $7.10 vote was announced on June 6th that it was approved, but now it has been 25 days, nearly a month and still no voting tally announced yet.

    This is the thing that has me wondering if there is something more going on preventing YONG from closing the buyout. They certainly would have had all of their ducks in a row ready to close the transaction as soon as they had the meeting and announced that the vote approved the deal. They had two years to do so and I know of other companies that have been taken private this way where the stock stopped trading within a day or two of approval.

    Therefore, I wonder if there is something more going on that's throwing a wrench into their plans.

    Maybe I'm just the eternal optimist, but I would be pretty shocked if the company wasn't prepared to close this transaction immediately if there wasn't some external force providing a hurdle preventing them from doing do.

  • mekong22 mekong22 Jun 26, 2014 10:19 AM Flag

    Same here, nothing would make us longs happier than to see the buyout fail and a $5 price

  • Reply to

    Put Volume

    by jeremygrey40 Jun 13, 2014 2:35 PM
    mekong22 mekong22 Jun 25, 2014 9:06 AM Flag

    a halt would serve the arbs right for their role is forcing the true owners of this company to have to sell their shares. well worth it, and the longer it lasts, the better the chance that the buyout falls apart. All the more reason to hang on to your shares

  • Reply to

    Vote

    by scott_wood35 Jun 23, 2014 7:26 PM
    mekong22 mekong22 Jun 24, 2014 8:55 AM Flag

    That's interesting. I've been following so close that I didn't even realize that I never got any notice about the second offer in the mail or via email. No new proxy was sent to me at all as far as I can tell. Probably worth sending another note to SEC enforcement. There has to be some rule against not notifying shareholders of a buyout vote.

  • Reply to

    Put Volume

    by jeremygrey40 Jun 13, 2014 2:35 PM
    mekong22 mekong22 Jun 24, 2014 8:52 AM Flag

    Although I'm sure you're making this up, I'm not sure why any longs would think that is a bad thing. Either we gets taken out at 7.10 and we are in the same place we are now, or somehow the buyout fails and we get to keep our shares. Either situation, a hit piece and temporary drop in stock price isn't a bad thing.

  • Reply to

    What if...

    by aaatrophymart Jun 20, 2014 10:07 AM
    mekong22 mekong22 Jun 20, 2014 10:58 AM Flag

    It would be more like they would just wait for us to buy. If the price drops in the open market in the near term. I know I would be buying more if the price dropped much.

  • Reply to

    frauds do never get privatised

    by umbisam Jun 17, 2014 11:37 AM
    mekong22 mekong22 Jun 17, 2014 11:55 AM Flag

    the longs on this board certainly hope this company never gets privatized. We'd all be buying aggressively if this deal somehow fell through

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