Sino Agro Food Inc (fka SIAF)

[thebear37]

Florida, go back and look at the volume that traded when the stock was at .005 (which from my research it was there for less than 24 hours) not many people could have accumualted a meaningfull position.

I still go back to the simple math between the cash needed to buy the companies that started SIAF vs the number of outstanding shares. to get the kind of cash the company used to make the aquisitions i would think the seed investors basis is signifigantly higher the .005.

if it were .005 the seed investors would have more shares than the outstanding count. This is just based on back of the envelope math.

The other point is that the groups that sold majority intrests in their companies to siaf for cash and stock recieved stock at a value of 2.25. This indicates siaf maangemnet put a 2.25 value on the stock so the start up/seed investors basis i doubt is .005 or anything close.

I also think that the 2006-07 audit adjustments to goodwill might reflect that fact that the the shares issued for the aquisitions were at a premium to the market value of stock. But this is just a guess.

None the less I am very excited about he company and increased my position yesterday at .59.

I wish my basis was .005. however i am very happy with the .86 basis I currently have. It has taken alot of work to get it that low as I acquired as high as 1.40.