"The account receivable of CA’s C&S services is totaling to US$52,478,526, wherein $3,413,141 lies within an aging period of 31 - 90 days, $5,775,840 within 120 days to one year, and $43,289,545 of over one year.
The $43,289,545 in outstanding receivables was settled by Tri-way through the issuance of shares, comprising 12.71% equity holding in Tri-way. Further information of this exchange can be found in the Company’s 2017 10-K."
That's from page 19
All I am telling you is what has been stated by Dan:
1) Fair Value of interest retained in TRW is $81,367,997 (23.89%)
2) Equity interest in TRW (Unconsolidated Equity Investee) is $40,788,236 + 2,501,309 = $43,289,545 (12.71%)
3) Total above is $124,657,542 (36.6%).
4) In addition, TRW has outstanding loans payable to SIAF of $14,438,797 to be paid in cash (no fixed repayment terms / no interest).
5) Also, there is the share of post-acquisition accumulated profits of TRW owed to SIAF of $5,262,524 that eventually will be paid in cash.
