John,
How do you interpret the revenue part of the answer?
He says $13M for full year 2012. Is this from the franchise and construction fees, like they are getting for one farm in 2010, OR, is it from one full year of fish "production," as he references.
If 2012 is $13M in production, is it for one farm, or does it include any of the 4 targeted for 2011? In any case, is the $13M figure total revenues for the fish farm JV's, OR , is it SIAF's share, which starts at 20% equity for the first deal, ramping to 75%+.