Replies to post #139495 on Sino Agro Food Inc (fka SIAF)

[modes948]

Solomon as I am beginning to understand him better,is probably someone who cannot operate under a plan.He makes promises or gets loans but because the difficulties after the promises or loans will come in the future he does not care.Like 'who will be alive in 2 years' or 'I will think of a solution when that time comes'.Call it procrastination or entrepreneurial immaturity, don't know what it is.
Also enjoying starting projects and not caring about costs or profits.No business plans nothing.And for me main problem his credit terms.Enjoying seeing people buying from him but not taking into account the risks that giving non-guaranteed credit involves.

[RealDutch]

Garrett will probably convert his whole amount soon if they can’t come up with the money

It does help when you read the filings, occasionally.

As of the date of this report, no settlement has occurred for both the origination fee and the interest payment, and the note holder has agreed to (1) extend the conversion of shares and to work with the Company for the issuance of shares at a time when better market conditions were evident and (2) to reschedule the repayment of the $2,000,000 in cash at an interest rate of less than 10% annually into monthly repayments at a monthly amount that can be serviced by the Company’s cash flow over the coming months.