Sino Agro Food Inc (fka SIAF)

[treit2002]

I agree that a spin off is at least a year away. But I also think Mr. Lee may be referring to a spin-off when he tied converting preferred to "extraordinary earnings."

One candidate is the flower business, as the model will have been proven in a year. They will have planted a majority of available acreage, with a majority of planted acreage having reached maturity. If the business could be sold at any decent EBIDTA multiple, could easily bring in half the total market cap in after tax cash. Could also negotiate that SIAF be the exclusive distributor.