Sino Agro Food Inc (fka SIAF)

[Mark-J]

97% discount and people who know it best don't buy. That's basically all the evidence we need to know what kind of company we are dealing with. Interesting to see what happens next and how the end will come.

number one these receivables aren't even their receivables there indirectly collected receivables number 2 they're selling shares of stock for supposed $30 book value but the market is paying $1 for those same shares and management has so far avoided to buy even 1 share of stock at a dollar which would give them about a 97% discount to the underlying asset value so 1 has to believe that the asset value is fake the other pieces that if they can't get rid of fertilizer and they'd rather sell common stock at a 95% discount to book value but they like to keep fertilizer and other things on the balance sheet one has to wonder if they have any customers at all that are actually their own customers were of their pretending and they simply are using other people's customers under their funky accounting tube tried to make people believe that the actually have a viable business maybe they just have a collection of other people's business that they don't control and whose cash they don't control. basically somebody else's junk pile none of which can be pledged or converted to cash.