Sino Agro Food Inc (fka SIAF)

[HighYield1]

NJM, I think your numbers for Capex sounds very low. When looking at my spreadsheet over the CF statement I can see that during the latest 18 months CAPEX was 112 MUSD, increase in working Capital (mainly accounts receivables) was 51 MUSD. Most of these Investments were financed by internal funds, but 26 MUSD was from printing New shares.

Going forward, the big question is how the Mega Farm will be financed. Partner A (Chinese business men) shall Finance 30% of expected capex for phase 1. I assume that is the 60 MUSD loan that has been menthioned in the latest 10Q filings. But what about the other JV partner (Global Ocean Development). They shall provide 70% of the financing for Phase 1, that's about 140 MUSD. Will Siaf need to arrange that funding or put up With the Money themselves?