Sino Agro Food Inc (fka SIAF)

[ks1977]

I still believe it comes down to the cash dividend, which is being made possible due to the bottoming and slight turn around in earnings.

I fear the cash dividends will not be enough, not after they screwed up the TRW-distribution. I.e they need to fix that one NOW - next year, even January, might be too late.

CA was actually making better money again last quarter as well

I'm not sure that is a good thing; now we have 6.25MUSD AR from TRW that is 0-30 days old. When will this be paid? (180 days it seems) Is this the cause to much of the dilution? (i.e paying the consultants before getting paid from TRW?) Solomon should not spend a single penny on CA/TRW unless TRW pays upfront.

SIAF’s receivables in consulting and services are mainly provided to WHX, WC1 and Shanghai wholesale centers collectively, and the extended credit terms for this quarter for more than 120 days to WHX and WC1 is primarily to allow them more time to accommodate their development of import sales in beef that requires much more working capital; this also applies to the higher credit terms on CA’s sales of fish to WC1 and Shanghai WC

Thank you Solomon, for sacrificing your shareholders... How is this NOT a breach of his fiduciary duty?

And like I said before, every day they continue to remain halted on dilution like we've been seeing for over a month now, the greater the chances become on following through on the cash dividend, since the dilution ending coincides with the timing of their guidance they provided.

It does coincide well, just like the TRW-distribution and the Q3-report (or how they would have if it wasn't for the screw-up). However, they said they expected to be cash-flow positive mid/late Q4 so we aren't safe quite yet