Replies to post #88975 on Sino Agro Food Inc (fka SIAF)

[viking86]

Another piece of the puzzle?

75,998 shares were issued as collateral for third party loans that will be returned upon repayment of the loan principal and interest, and the issuance of shares to some shareholders who didn't convert their shares to new shares after the reverse split.

NJM: actually it's not a new piece of the puzzle. In 1Q15 they had already issued on 3/31/15 153,392 shs for the same purpose as the boldened part of your post. Per Page 15:

"3/31/2015 153,392 ....11.13....... Part of reversed split conversion"

and also Page16 of 10Q:

The shares issued by the Company were valued at the trading price of the stock on the date the shares were issued. For the three months ended March 31, 2015, the Company issued an aggregate of 906,696 shares of Common Stock (inclusive both of the 753,304 shares as security and

153,392 shares issued to shareholders who hadn’t converted their shares as at 31 December 2014, but converted during this quarter) in consideration for the aggregate amount of $7,703,918, reporting a gain in income of $0 from the issuance

.

My guess is b/c those were shares that were reversed-split late and have in the mean time appreciated much (pps of 11.13) compared to the original shares that had been converted at the time of the reverse split (Nov '14?), so Company had to account for the value difference via additional adjusted shares so the total gain in income becomes 0? But what was said in today's PR for the period b/w March 31 and May 12, 2015 is basically the same as had been reported in the 10Q for the Q1 period.

Hope i didnot make it more confusing.