Sino Agro Food Inc (fka SIAF)

[treit2002]

I don't agree with this ... At $4 we don't need to issue 30M shares in 2013

Obviously, selling shares at $2 or more is that much better than $1. But > $1.00 is enough, especially in combination with any other measure to limit the marginal cap ex needed. The pledge alone, with some credible execution plans would help the share price. Also, they do not have to wait until April to signal FY 2013 results. The can pre-announce a range January or February, if they want, before the FN listing.

IMO, the company has a ways to go before "deserving" a "fair" value over $2.00 beyond simply deferring dilution. But they will tick off those milestones: free cash flow; 1/4 Billion revenues and NTA, dragonhead sub status, etc.

It's ironic, or at least unusual, that operational performance is the least of my concerns, as a shareholder.

Let's assume we list on FN in March and let's assume Solomon will keep his filthy hands off the dilution button altogether until July/Aug. Between March and August JF will do their "thing" (promote the stock)

Thing is, we do not know what commitments have been made a while ago.

The fact that Solomon told us there will be as many shares issued in 2013 as in 2012 just shows that he doesn't have a clue.

Not necessarily. He has pretty strict legal constraints about what he can say. He did allow, in the same breath, that there are alternatives to straight share issuance.

He has not acknowledged that he can take his foot off the dilution accelerator. I don't understand why he can't and why he would not lighten up -- if need be -- by any of the ways I suggested. But, he may be committed, to some extent.