Sino Agro Food Inc (fka SIAF)

[zerohedge]

http://wdi.worldbank.org/table/5.4

ok here you go, this is the "strong" hong kong retail market for you.

the USA is about 45% of all stocks on the planet by market value. the USA market is some 800% larger than HK from a stock market perspective.

the proposed scam is that HK market valuations are higher, so the IPO will be at like - 50X earnings and so SIAF is worth $127.21 per share or something like that.

reality is simple.

if you can't offload your crappy stock in the worlds largest most liquid market - no matter how much arm waving you do, and you change financial practitioners continuously, and you cannot audit or "make independent" what's being offloaded onto the public - you can't spin deals. game over.

if they went and did a bunch of PINK sheets listings for all of this stuff they wouldn't even need to post audited financials. that's really ideal for them at this point. then they can make up whatever numbers they want for these "standalone" businesses.

there are worse things than this stock