Replies to post #143446 on Sino Agro Food Inc (fka SIAF)

[ROCKHard]

Some Where... Where? Magic, sleight of hand, he's going to pull a rabbit? Can you explain the following... such skewed amounts.

CONCENTRATION OF CREDIT RISK (CONTINUED)


Percentage
of revenue Amount
Customer A Corporate and others Division 33.40 % $ 22,619,734
Customer D Corporate and others Division 17.73 % $ 12,010,574
Customer C Cattle Farm Development Division 16.63 % $ 11,265,270


Accounts receivable are derived from revenue earned from customers located primarily in the P.R.C. The Company performs ongoing credit evaluations of customers and has not experienced any material losses to date.



The Company had 5 major customers whose accounts receivable balance individually represented the following percentages of the Company’s total accounts receivable:



June 30, 2018 December 31, 2017

Customer A 60.04 % 27.13 %
Customer B 12.15 % 7.34 %
Customer C 8.79 % 7.49 %
Customer D 5.14 % 4.78 %
Customer E 3.70 % - %
Customer F - % 12.31 %
89.82 % 59.05 %


As of June 30, 2018, amounts due from customers A and B are $53,460,749 and $10,814,651, respectively. The Company has not experienced any significant difficulty in collecting its accounts receivable in the past and is not aware of any financial difficulties of its major customers.