Sino Agro Food Inc (fka SIAF)

[viking86]

But they can't book it as A/R once the payment has been made.

no but the JV partner has 6 months to pay the invoice upon completion of a service. So if that rev is booked in GAAP sense (rev recognized upon delivery of a service or a product) but not yet paid, it ends up as an A/R for that report period. That's why they had that huge buildup of A/R last Q from 6 service contracts.

"Temporary deposits paid to entities for investments in future Sino Foreign Joint Venture companies" - worth $7,704,670 is the 25% deposit for JV's waiting to be approved.
As of Q2
- PF1
- PF2
- WC1
- CF2

good to see those deposits made toward additional equity. Just not sure how it actually works. Do they really deposit that cash or do they just draw that amount down from the previous A/R and use the cash for something else?