Sino Agro Food Inc (fka SIAF)

[snow]

dc

I found your post very helpful. I found your reasoning convincing and I just sold 15,000 shares at $ 1.15. After reading about the sale of the dairy business at ridiculous price and the spending 50 million dollars on land that in itself will not lead to any revenues I sold 30,000 shares. A small part of all that land can be used for growing flowers but I can't see that it will be profitable to use it for producing fodder for animals for instance since the price per acre is very high indeed compared with land prices in other countries. Neither am I happy with increasing the sharecount by 20 %. We had no reason to expect that after reading the interview with geoinvesting in January 2010.

To me it makes little sense that what has happened will not affect earnings per share this year. When about 50 cents were projected Mr Lee was aware of the flower business was he not? He has changed a promising company with robust growth prospects to a gamble the way I see it. After all the number of cows was expected to be up several hundred percent in a few years in January 2010. Growth prospects for the cash cow were therefore excellent.