SIAF - RDBO
Interesting, was this a recent R/M?
I did a quick review of the recent 10Q. I will state up front I am biased towards SIAF when comparing. I've done an enormous amount of DD in regards to SIAF and China dairy. The one thing that caught my eye with RDBO is that they will most likely need to raise additional money whereas SIAF has already funded it's start-up operations.
I also noticed RDBO has convertible debt(equity), where SIAF has only bank debt(no equity). SIAF's net margins will be a bit higher because they also manufacture in house there own feedstock as well as operate (hold license/patents)on organic fertilizer. Including their exclusive rights to a fishery process, they are a more diversified company.
I would need to do further DD, but I would say RDBO needs to mature a little more, get past whatever funding rounds they need and most importantly, make sure whatever promoters and previous directors of the shell have sold. That is something SIAF already went through and therefore is no longer a burden on the share price.
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