Two things give me some hope that SIAF can still see some price appreciation from this point forward (and that should be the only criteria, since what has happened to the SP previously is done, and no decisions made in the past can be undone):
1. The company has attempted to bring its filings up to date, even though it still faces internal auditing challenges. The fact that it continues to try to meet minimum listing requirements is, to me a positive. While I recognize the filings are deficient, I give points for the effort.
2. Given the current crackdown in China on entrepreneurial Chinese companies, SIAF may have a distinct advantage as it has never been (for better or worse) focused on high investment returns, but has worked closely with provincial and local governments in various joint ventures, and has been recognized by various Chinese government entities for its practices.
In this environment, that culture should be an advantage.
Also, I see no sign that HangRen has given up on extracting some value from its investment and from the litigation it settled last summer with SIAF. As long as Hang Ren is still working on achieving some value here, I'm willing to ride along and see what happens.
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