Sino Agro Food Inc (fka SIAF)

[treit2002]

Hello Steve,

Must admit I missed the crucial statement you cited, "We have contracts in hand to build more APT based on the success results of the 1st farm."

This is very good news, imo, as it indicates that the projection of 4 new farms in 2011 is not simply an estimate, but a contingent contract. Wish we could see the contract, because then we'd pretty much know the timing.

It doesn't preclude other partners starting soon, but as you suggest, a conservative view would be starting new farms when fish sales commence in July.

I think that the fish will mature in some phased way such that the partnerships can smooth sales of 500 tons annually to 40 tons monthly +/-.