Sino Agro Food Inc (fka SIAF)

[RealDutch]

I'm pretty sure that these are the contracts we are waiting for that will make SIAF cash flow positive later this year.

From the 10-K

At the same time throughout 2017, CA has been servicing groups of farmers aiming to develop some of their properties (estimated over 600 Mu collectively) in nearby regional districts within 2018 as well as over 400 Mu of land next to ODRAS(3G) farm (1) in 2018.

The 600 mu in Shenwan could be 350 mu + 250 mu (a small cooperative that exists already).

600 mu = 40 hectares = $20M contract for CA. It depends on what type of conversion but we can use $500k/ha. Gross margin close to 30%.

I don't know who will finance it. Could be TRW or the cooperative or a combination.

CA is the turnkey contractor. TRW will "contract" the farms IMO. This could mean TRW either leases the land or service the farms, or both. But it does mean that TRW will benefit in the long run.

Let's see if it plays out this way.

Tony (also) said that TRW will "contract" the Yangjiang facilities in March, 2019. This could mean ODRAS 3G farm 1 (150 mu) or the 150 mu + 400 mu of new development.