Sino Agro Food Inc (fka SIAF)

[viking86]

AIK: no need to feel guilty when it comes to misjudging an Ironridge activity. The majority of us is always wrong about them in my own experience. Their activities are typically veiled in secrecy or semi transparent statements. On their 2011 deal with SIAF, there were literally hundreds of postings here about how many shares they received, what they did with those and how many of those they retained. Most of those posts to my recollection turned out to be wrong and almost nobody knows as of today (except maybe LL?) how many shares of SIAF they still have. So keep on posting, you provide valuable info imo.

Here is some info on the 2011 deal from the GI site (courtesy Mr F):

Tuesday, November 22, 2011
Resolution of Legal Issues

On November 15, 2011, Sino Agro Food, Inc. (the “Company”) issued approximately Six Million, Nine Hundred Seventy Five Thousand (6,975,000) shares of the Company’s common stock, par value $0.001, subject to adjustment as described below (the “Ironridge Shares”) to Ironridge Global IV, Ltd. (“Ironridge”), in settlement of $3,021,505.65 in accounts payable of the Company (the “Claim Amount”), plus attorney fees and costs. The issuance is exempt from the registration requirements of the Securities Act, pursuant to Securities Act Section 3(a)(10) as an issuance of securities in exchange for bona fide outstanding claims, where the terms and conditions of such issuance are approved by a court after a hearing upon the fairness of such terms and conditions.

The Ironridge Shares were issued pursuant to an Order Approving Stipulation for Settlement of Claims (the “Order”) between the Company and Ironridge entered by the Superior Court for the State of California, County of Los Angeles, West District (Case No. SC114815) on November 10, 2011, in settlement of bona fide accounts payable of the Company purchased by Ironridge from creditors of the Company in the aggregate amount equal to the Claim Amount, plus fees and costs.