Here's another thought. If Phase 1 isn't completed by Q2 2016 then the company has 3 years from the time of signing the contract to buy into the Mega Farm. And if they are not constructing the processing factory because they are lacking the final $70M then apparently it won't be fully completed by Q2 2016. Which means they have until November 2016 to come up with the money to buy into the Mega Farm.
Didn't they just tell us they are going to pay a dividend in 2016? And isn't it true that they will get a big chunk of money from either a SJAP merge or spin-off?
This Mega Farm contract only makes sense if the Chinese partners are behind Glory Ocean. Because they are the (only) ones who would want SIAF to acquire a 55% stake for book value.
I have sent Peter an email yesterday. Why not tell us who is behind Glory Ocean? (if it is the Chinese partners). The SEC must have asked questions about this too. Like, "Tell us why you believe you can book revenues from the Zhongshan project". And then the company must answer those questions. So why not let the shareholders in on it as well. And if they are planning to acquire a 55% stake then why not inform the shareholders about these plans. We need some clarity around here.
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