Replies to post #145738 on Sino Agro Food Inc (fka SIAF)

[RealDutch]

Quite a misrepresentation there.

SJAP had to pay the farmers $8,375,947 as far as I can see. As of Q4 2017. With SIAF owning 41.25% of SJAP.

[RealDutch]

I think the part in bold is/was the problem.

The average price paid to cooperatives for their fattened cattle is at RMB50 / Kg or at RMB4 / kg above average market prices, whichever is higher. A commitment by SJAP to the cooperative farmer to exercise its option to purchase cattle is made well in advance to lock-in the price before other buyers step in and also to obtain the producer’s commitment to raise its cattle based on SJAP’s quality standard for purchase.

We can probably sue them for this alone. For not disclosing it properly.

Solomon is a reckless gambler, nothing more. He made the same mistake for sleepy cod in the past.