Sino Agro Food Inc (fka SIAF)

[zerohedge]

the math is much much worse than that!

15 million USD unpaid principal to EU group
15 million back interest unpaid to same EU group

all renegotiated same as #garrettgroup terms and condition -

that's $30 million USD at 17% of the VWAP at a 150% coupon after one year - taking into account the 50% discontent to VWAP before other discounts kick in -

so that's $0.195 X 17% with no price floor!!!!!

the math is very simple and since there's no problem with a lower price since there's no equity floor - the note-holders can convert at $0.00003 and still make money -

they transfer agents printing press will be on fire as this nastiness unfolds -

watch and learn -