Sino Agro Food Inc (fka SIAF)

[snow]

Can RD or others explain?

Total deposits for increasing stakes in subsidiaries was 41 million dollars. That Equals about 80 million shares at 50 cents per share. Would we not have been far better off With 70 million shares and none of those deposits? After all they cannot have contributed to earnings per share so far?


Note (10.2) Information of “Temporary deposits paid to entities for investments in future Sino Foreign Joint Venture companies”:



Under account
of Segment of Project name Estimated total Estimated time Current status Deposit &
prepayments Land Bank % equivalent
Subsidiary Asset value of Acquisition of Project made as of
12.31.2013 or Built Up
area to equity paid
$ $ m2
SIAF Corporate Trade Center 3.5 million own development 30% completed 4,086,941 5,000 31 %

Seafood Center 1,032,914

CA Fishery Fish Farm (1) 26.22 Million 2016 2 out 4 phases completed 6,000,000 23,100 23 %
Prawn Farm (1) 20.93 Million 2014 in operation 14,554,578 165,000 56 %
Prawn Farm (2) 29.18 Million 2014 Part operational Part work in progress 9,877,218 120,000 developed 96,000 m2 undeveloped 29 %

MEIJI Cattle Cattle Farm (2) 15.88 Million 2014 95% completed 5,558,057 230,300 35 %
41,109,708