Sino Agro Food Inc (fka SIAF)

[RealDutch]

34. Defendants’ acts of non-performance include, among others: (i) failure to transfer 250,000 Tri-way shares as agreed; (ii) failure to engage in planning for any Tri-way share dividend to shareholders; (iii) failure to appoint a director to the Tri-way board; (iv) failure to establish a Corporate Governance committee; (v) failure to commence searching for a CFO; (vi) failure to conduct any analysis of the possibility of sunsetting Lee’s A-shares; and (vii) failure to engage with Plaintiffs in exploring and identifying and inviting strategic investors.

So much for the optimists who thought that Solomon would comply. lol.

35. The only act Defendants undertook to perform the Settlement was to “appoint” Mr. Henry Sun – Plaintiff’s nominee as independent director, to the SIAF board.

36. But the appointment has been in name alone, as Mr. Henry Sun who is supposedly the head of SIAF’s “Internal Control And Audit Committee,” has not been given access to SIAF’s accountants, books, or indeed, financial information of any kind. Sun Decl. ¶¶ 4-7. Nor has any effort been made to work with Mr. Sun to facilitate the financial reporting process and remedy SIAF’s delinquent SEC filings. Id.

37. All Mr. Sun has received since his appointment has been verbal and text-message assurances from Defendant Lee that the Company was doing fine and that he had grand projects in the pipeline to revive its business through purported business ventures in Africa. Ex. E

Yep, that's our Solomon Lee.