I think the explanation given by the company in the NT 10-Q doesn't add up:
If one looks at the 2016 Q2 10-Q, the segment revenues from the cattle division are only about 7 million. The total revenue from the Fishery Development Division are about 48 million. Isn't the drop in revenue correctly explained by the fact that the fishery revenue is now recognized by Tri-Way, and SIAF will simply recognize its 36.6 share of the Tri-Way net profits, rather than the revenues and cost of goods sold as in the past?
I am not sure why the NT 10-Q would attribute the decline in revenues to the wrong segment, but it appears that they have done exactly that. Anyone else have a different explanation?
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