Replies to post #136014 on Sino Agro Food Inc (fka SIAF)

[modes948]

I think I mentioned both in my posts just after the 10-K.
They put the money of the collaterals that they have already spent, into the current assets!!!Just to show that those shares will be returned once the loans are paid back.Is this allowed?I look at the Balance Sheet and feel good about this company looking at their current assets but then I find out after I buy shares that the cash does not really exist.As consolation there are fewer shares.

So I can list a company that has zero assets, issue collateral shares, spend that money but show in my Balance Sheet that the money is still there for the benefit of the company and its shareholders.Just instead of 10 million shares say there are only 1 million.What's the difference if I am a 10% or 1% owner of a company that is worth zero?

What is strange in this whole mess is that Fredly is very angry and disappointed, whereas Garrett is very easy without too many concerns.