Sino Agro Food Inc (fka SIAF)

[rr8548t]

Think that the receivable from the dairy sale is land, not cash.

Are you not referring to the second item under due from related parties (page F-26)?

Due from proceeds receivable: $2,386,233

"Disposal proceeds receivable in the amount of $44,295,612 from the sale of subsidiaries are due from Mr. Xi Ming Sun, a director of ZhongXingNong Nu Co., Ltd., (i) of which $3,796,215 was settled by way of equal installments of $759,243 each on April 30, June 30, August 31, October 31 and December 31 of 2011; and (ii) the remaining $40,499,397 shall be settled by way of cash toward the Company’s purchase cost of Land (or land use rights) and / or by way of Land (or land use rights) acceptable to the Company as stated in the agreement.

As of September 30, 2012, the outstanding amount due from Mr. Xi Ming Sun is $2,386,233.

Due from proceeds receivable is unsecured, interest free and has no fixed term of repayment."