Replies to post #109670 on Sino Agro Food Inc (fka SIAF)

[challe08]

It's clearly OTC who is killing this stock.

DNM(B) is far from done at Merkur, they stepped away when we made 8-9% in a day, but they are back with usually their 1000 ask with seemingly unlimited supply hidden....
There is of course a chance that it is the same entity as on OTC (CDEL), but honestly it doesn't look like that at all....depressing to see for sure and as usual no freaking support from management!

[RealDutch]

There is no reason for Incentive to be selling. The loan had a 3-year term.

https://www.sec.gov/Archives/edgar/data/1488419/000114420415020143/v404849_10k.htm

l Also during the first week of March 2015, the Company secured two loans from two reputable financial institutions in the United States based on the following principal terms and conditions:


1. Loan Principal: US$10 million on Loan 1; US$15 million on Loan 2.
2. Disbursement Terms: Between one week and one month per tranche, depending on the Company’s needs.
3. Loan Term : 3 years
4. Interest Rate: 3.5% per annum for Loan 1; 5% per annum on Loan 2, payable quarterly.
5. Repayment of principal: Lump sum at maturity
6. Security: Collateralized with Company shares secured at 80% loan-to-value at the previous 3-day market average at the time of withdrawal.

The first tranche of $4.7M was booked as "Other payables" (due to debts loan) in non-current liabilities during Q1 2015.

This is the status now, as of Q3 2016

Due to debts loan 13,052,702

So they haven't taken the whole $25M.