Replies to post #147254 on Sino Agro Food Inc (fka SIAF)

[Redbull84]

Yeah, and it’s not weird since CA made like 30M alone before the mega farm.

[RealDutch]

In the last 10-Q, the total receivables is around 115M, so you are telling me that 95% of these receivables are from TRW?

No. Only $53,460,749

You have to look on page F-34 of the 10-Q

https://www.sec.gov/Archives/edgar/data/1488419/000114420418044689/tv499737_10q.htm

SIAF's "investment" in TRW consists of 2 parts. The 36.6% interest valued at $141,999,564 currently (which includes profits of the past 2 years) and $59,312,033 of debt due from TRW.

When they settle the $53,460,749 of CA receivables, the other TRW payables ($59,312,033) will have to be reduced by roughly $9M (because the total reduction is $62.3M). And if SIAF gives the 18.3M shares back then the $141,999,564 will be reduced by $62.3M (or half?) and the $59,312,033 number should go up by $62.3M.

Which leaves 59 - 9 + 62 = 112 due from TRW if SIAF retains 18.3%. And no more A/R for CA.