Replies to post #137111 on Sino Agro Food Inc (fka SIAF)

[RealDutch]

Why did SIAF say the shares were issued at $.55 rather than $3 if the shares issued went to ECAB note holders, as you suspected ?

Because Merkur may have asked them to disclose what the shares were sold for (issuance). Which of course makes matters only worse for us.

This is how it worked in the past. See page 86 of the 2014 10-K

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

There is an issuance price which SIAF has to book. But there is also a settlement price. The difference is a gain or loss on extinguishment of debt.

But of course I can't be sure about this.