Replies to post #140181 on Sino Agro Food Inc (fka SIAF)

[RealDutch]

I agree Garrett should help Solomon in any way to close the Tri-way loan

He can't. Don't you get it? Half of the assets consist of license rights. The other half are on Chinese soil. The MF isn't performing, and they have $108M in debt due to SIAF. We can bankrupt it any day of the week.

There will not be a big loan. Solomon lives in fantasyland.

[Redbull84]

Don’t fight the dumping.. you will not win.

[Marty42]

Hey jyyoo,

I agree with you. You might have missed it but at one CC, do not remember which one, it was made clear that SIAF would support the carved out companies during start up. I guess that could be the reason to why they do not insist on re-payment. TRW need cash to finance the seafood trading which in turn may be used as collateral for the loan. If that is the case forcing TRW to re-pay debt might not be such a good idea.

[ks1977]

Perhaps shareholders can push management to start collecting on these debts owed to us

Not sure how much harder we can push... Continue posting here about the obvious solutions to avoid further dilution at 2% of book doesn't help. We can flood Peter, Solomon and Dan, but I don't think that is going to help either. I assume Garret (and others) have told them several times already as well - even though it shouldn't be necessary (unless Dan actually believed that they should avoid taking a loss, and instead detroy shareholder value many times higher then the loss would have). So I don't know what more we can do - write a letter to SIAF stating that we will sue them if they continue the mismanagement?

We're estimating a 40MUSD net profit for TRW this year. Free cash flow will probably be less than that, but it shouldn't be difficult for TRW to repay a substancial amount to SIAF (unless there is an agreement that they will not repay SIAF until TRW has been financed).

If you have any ideas to how we can push them to get TRW to start repaying its debt to SIAF then I think all of us are very eager to help pushing! :-)