Snow, if the china agricultural sector is the place to be, which it must be given the huge population and need for greater food security, and if basic agri business is the sector you want to be invested in longer term (as opposed to banks, resources, electronics etc), then I suggest you get back on board. Assuming you still have positions, that's good but evenso, now is the time to accumulate more if you have room.
Florinda, the only mistake they have made is "anticipating" that those audited numbers could be ready by April. I believe they will learn to be more careful next time as far as timelines are concerned. They are a young company and naturally they have to keep learning to become stronger in their systems and processes.
It was most probably SIAF's wishes to have a quick audit. But I tell you auditors are not an easy bunch to work with. They normally stretch timelines to the maximum (from the experiences I have had with some of them, and I expect all good auditors to be very busy this time of the year as well). Anyhow, looking forward, I would think there is a high probability that the 2008 and 2009 audit will be signed off by Ted Madsen before the end of June. Yes folks, Ted Madsen's affliates were at SIAF's various premises in March and April to audit 2008 and 2009 numbers.
Worst stock market in 40 years? They probably meant worst month of MAY in 40yrs. The post Lehman/AIG meltdown was far worse than this, when those huge redemptions kicked in.
Watchers,
Thanks for the feedback. I hope you're right, that is, I hope when the dust settles the Company learns from it's mistakes and is able to move forward unimpeded. Presumably we won't know for a long time. I've written off seeing the audits done before late July or early August. Hopefully that proves inaccurate, but I'd rather be happily surprised than set my expectations for sooner. I did find out, however, that the Company will not have to get it's recently released Q1 2010 earnings audited in order to fulfill the requirements for the Form 10 getting done. So that is great.
Off topic: did I hear correctly on the news that May's stockmarket performance was the worst in 40 years?
AI
