Replies to post #127868 on Sino Agro Food Inc (fka SIAF)

[emptyone]

hey KS why the confusion? The company is completely transparent, just ask Transparent Dan If Garrett wants better financial indiviuals running the company he can start by using his influence by having Dan replaced with a seasoned CFO. I fully support this, enough with amateurs.

[ks1977]

Does anyone have any idea what the loan from D'Alessandro is about?

The only thing we know is what is stated in the filing;

Includes 320,000 shares of common stock issuable to Garrett R. D'Alessandro upon maturity of a loan agreement with Sino Agro Food, Inc. due February 28, 2018

I don't think this is mentioned in the Q3-report, so this is something that has happened in Q4/17 (before November 16th) - yet it seems to be due in less than two months, i.e before Loan 1 is due...

I'll speculate that this means;
1) The TRW-loan is now 100%, but SIAF needs cash until the TRW-loan is paid on or before February 28th
2) SIAF is very confident that they will get the TRW-loan very soon, and have an agreement with D'Alessandro that they can extend the due date if needed
3) D'Alessandro has given a convertible loan that will be converted on February 28th

It is hard to believe that D'Alessandro will get 320k shares as interest or similar for a loan with a 3-3.5 month duration, and it seems folly to set such a short due date (especially right before Loan 1 is due) if SIAF isn't 100% sure that they can repay it (even if it can be extended, the PPS will suffer). Can it be a convertible loan? If so, a what PPS?
320k shares isn't a lot, so $10??? Although it seems rather strange to do a convertible loan with such a short time until convertion, but with 5 million shares we would all benefit from it.