Sino Agro Food Inc (fka SIAF)

[ccsykes]

Triet you are correct. I know you guys like to take numbers and try and crunch them, the problem with that is a good chunk of revenue is generated through consulting, services and construction. There is also internal revenue generated from feed and fertilizer.

Think of the cattle farms like a leased facility. The facilities themselves are owned by the JV's. The local farmer cooperatives get grants from the government, the farmers then pay SIAF for use of the facilities (housing, feed, veterinary) and then SIAF buys the cattle from the farmers once they are ready for market. SIAF generates revenue from the management, construction and servicing of the facilities as well.

There are three separate parties involved, SIAF, JV partners and the farmers.