Sino Agro Food Inc (fka SIAF)

[snow]

andrewfying You are partly correct. This is from the latest quarterly report: "Straight note payable of $29,867,999 represents a 10.5% Convertible Note in the aggregate principal amount of up to $33,300,000 issued on August 29, 2014. On July 18, 2017, the Company and the note holder entered into a restructuring agreement regarding the settlement of the Note as follows:

(i) 50% in cash settlement of $15,589,000 to be paid in monthly installments.

(ii) The other 50% balance of $15,589,000 to be settled by the issuance of 5,196,333 common shares of the Company and 400,000 shares of Tri-way Industries Limited.

As of the date of this report, the Company has paid $3.59 million with $11,999,000 remaining owed on the $15,589,000 settlements."

The above shows that SIAF has repaid 3.5 million dollars but still owes about 12 million dollars to ECAB. SIAF appears to have defaulted on the monthly payments. That is of course totally unacceptable. It is absurd to promise a cash dividend while not paying monthly instalments to ECAB.