Who wants to be SF3s neighbor? BTO?

[iceman]

Update on Terminated Streaming Contracts

On November 12, 2015, Input announced the termination of three streaming contracts and which are now classified as inactive contracts. Input immediately began legal proceedings to begin the process of recovering its investment in these three contracts.

Management is pleased to report that the recovery process is proceeding smoothly and is either on track or ahead of previously expected timeframes.

On the largest of the contracts, Input has now taken titled possession of 12.3 quarters of farmland (approximately 2,000 acres), and the foreclosure process on the balance of the land associated with the security package for this contract is proceeding ahead of schedule. Input is in the process of finalizing rental arrangements with local farmers for the upcoming growing season to ensure that the land is maintained in good condition in preparation for a sale of the entire property once the foreclosure process is fully complete. In the interim, the farmers will pay a market rental rate to the benefit of Input for the use of the land this year.

In addition, Input has consigned a significant number of pieces of farm equipment to a regularly scheduled auction to be held on May 1. An additional batch of equipment associated with this contract will be auctioned this summer.

The recovery efforts associated with the two smaller terminated contracts are progressing and are on track with previous expectations. Management continues to expect to fully recover all of the capital associated with the three terminated contracts.

Iceman is Out

[furrowtickler]

Hmmm , who would thunk eh that this would happen ??

[iceman]

May 1 auction sale?
Farm auction on a Sunday?
That would be a first

Iceman Over & Out

[AllisWD45]

Sunday auctions pretty common in our area. Drive west of Melville and check out grain bags that are full of canola belong to Input Cap. Ravens/wildlife?? have done quite a number on them.Not much value in that security!!Former owner lives in Mexico.

[ajl]

The only surprise here is they plan to sell the entire property. I though CPP was there to buy once these guys have the foreclosing done. Who was it that called this loan sharking.

[SASKFARMER3]

What I cant figure out in all this mess is the dollar amount 12 quarters don't add up. I think the rental acres were used also. Big amount.

[Klause]

Really hoe is this different than a normal loan at a bank that you can't pay off...


Lenders are lenders.

[farming101]

Someone else can correct me but I think the "interest-canola"
was rather exorbitant

[farmaholic]

Credit of last resort. Why not try to change things before you need these guys? $toopid...

[riders2010]

someone needs to investigate these guys, but look at who s friends they are????

Lets see shitty crop and agristability programs farmers get in trouble and then boy have my friends got a deal for you!!! and that's the truth.

Fcc and other lenders want to deal only with those that don't need the money in the first place and any foreigner of behind the desk expert that has nice paperwork rather than farm families, but hey bet you a case of beer the land if its in an oil area ends up guess where?

[SASKFARMER3]

No oil potash few thousand feet down.

[sumdumguy]

Inputs and 'necessary" equipment have become so rediculous. It's not the way we survived our 32 years. When you start with $700 and have to sell a bin off the yard to pay the lawyer, you learn to farm within your means. Guess changing times make changing ownership. Knocking themselves out to do what? Produce more for less! Borrow more money - its cheap, but life isn't, its precious short.

[bucket]

First off. I am not against BTOs.

But I am against guys that use the system of debt review to get there.

You have to see this where governments want ag to go and don't write the policy but imply it with the likes of elmsey in the background with the cppib as the backer.

Call me a lunatic but it's not a good path to follow.

As I said on another thread ....we are still competing against garden hoes for our product. And the guys with hoes are being government supported to 10 bucks a bushel.

[Klause]

Bucket, isn't the farm debt board really the government "helping" guys... isn't that what you advocate on here all the time?



One of my wife's family used to work for the FDRB... wow there's some interesting stories.

[bucket]

Klause .... hold on.

I am talking about guys that bid land up and then got it on less than 30 cents on the dollar they bid. Now running around promoting a billion dollar irrigation project to help themselves on guys like you.