Replies to post #139321 on Sino Agro Food Inc (fka SIAF)

[modes948]

Good question.And all this happened after they announced with the OTC in October that at the AGM they would initialize a Buyback Program!!!!
Not only there was no Bayback or AGM even, but on top of that they began to dilute for peanuts.

https://www.otcmarkets.com/stock/SIAF/news/Sino-Agro-Food-Inc-schedules-2017-Annual-General-Meeting-Agenda-Items-Include-Dividend-and-Share-Buyback?id=171770

[Mark-J]

Believe the reality, not the reports.
It's down 98% in 3 years.
All claimed assets, wins, corporate structure changes have created only loss of share value and dilution.
The dilution is because of lack of real business/cash flow.
Most people agree that they have produced no harvests of their own and their assets are considered fake by the market since it trades at P/B 0,02.
Everybody thinks the management is bad.
Why would you invest in something like this?
99,99% of the companies in the world are more trustworthy, transparent and profitable for the shareholder.
It would be completely irrational to invest in Siaf.

[snow]

BB During the deal with ECAB was on the dilution more or less came to a halt. But ECAB got a large part of its money back and new terms were agreed it seems. It appears that since last summer the financial madman Solomon has been free to dilute again. Last autumn he accepted an extremely toxic note for 4 million dollars with a friendly shareholder that in theory could result in hundreds of millions of more shares being issued. The market may be worried about this note.

Moreover, he has been selling shares for as little as 2% of net assets per share to defray expenses. Solomon gambled that TRW would receive a loan of 100 million dollars which would have resulted in significant revenues and profits of CA, a subsidiary of SIAF.