Sino Agro Food Inc (fka SIAF)

[RealDutch]

A few months ago you thought the share should trade at $600 and now you think $13 is a fair price... What has happened?

What has happened? The sector has been hit with a hammer. And the reason for that is that the market cares even less for Chinese reverse mergers. On top of that, you have CEO's making a mess, raising cash at depressed levels because they do nor care about shareholder value. Or they are simply stupid. Either way, they don't get it. And Solomon is no different. So they are taking the whole sector down with them because shareholders are basically giving up.

Two. I don't like shareholder activism. Well, usually it's a good thing, but not here. There's no telling what Solomon will do if the shareholders (including ECAB) start pressuring him. And I know I'm part of the problem, even though I'm just a forumite.

Three. We had some bad news on operations. Eels, margins, bad weather for HU, errors in the Q1 report. Delays getting listed. Delays with the Mega Farm. No acquisitions thus far. The list goes on and on the longer I think about it.

Then you look at price/book. And 53% simply isn't cheap. My other stocks are trading at 4%, 7% and 18%. There are quite a few Nasdaq listed dividend paying stocks trading between a P/E of 1 and 2 as well.

I've said it many times. Solomon will have to compete with all those other depressed stocks. We still don't have guidance. Can't really blame him for it, but still, without guidance, without a share buyback program, without the FN listing, it's hard to see how we can get to $20 this year.

It is what it is. But I'm trying to warn them. The BOD better get this company moving and do the right thing for the shareholders. Because the investor base is losing patience. The only reason why we are trading at $13 is because IR has done a pretty good job.