Replies to post #147451 on Sino Agro Food Inc (fka SIAF)

[ValueInvestor01]

I am not even surprised. I don't even speculate about the O/S. When they increased the A/S, I always knew they're going all the way to its max limit and repeat the cycle. Soon or later, they would do reverse split OR another increase on A/S. When that happens, we always have to expect for the worst.

On November 10, 2014, the Company approved an amendment to the Corporation’s Articles of Incorporation to effectuate a reverse stock split (the “Reverse Split”) of the Corporation’s common stock, par value $0.001 per share (the “Common Stock”) affecting both the authorized and issued and outstanding number of such shares by a ratio of 9.9 for 1. The Reverse Split became effective in the State of Nevada on December 16, 2014. Subsequent to the December 31, 2014, the Board of directors and the holders of a majority of the voting power of our stockholders of the company have approved an amendment to articles of incorporation to increase its authorized shares of Common Stock from 17,171,716 to 22,727,272.

The Board of directors and the holders of a majority of the voting power of our stockholders of the company have approved an amendment to articles of incorporation to increase its authorized shares of Common Stock from 22,727,272 to 27,000,000 and the amendment was filed on December 28, 2016.

During the year ended December 31, 2017, the Company (i) issued 1,167,502 shares of employees and directors at fair value of $1.00 to $3.45 per share for $1,452,984 for employee compensation; (ii) issued 500,800 shares of common stock valued to professionals at fair value of $1 per share for $500,800 for service compensation; (iii) issued 4,074,979 shares of common stock ranging from $1.40 to $5.15 amounting to $12,054,045 as collateral to secure trade and loan facilities, and the shares issued by the Company were valued at the trading price of the stock on the date the shares were issued; and (iv) 892,735 shares of common stock issued for $0 as top up securities for debts loans.

The Board of directors and the holders of a majority of the voting power of our stockholders of the company have approved an amendment to articles of incorporation to increase its authorized shares of Common Stock from 27,000,000 to 50,000,000 and the amendment was filed on August 24, 2017 with an effective date of August 25, 2017.

During the six months ended June 30, 2018, the Company (i) issued 72,450 shares of common stock valued to employees and directors at fair value of $1.56 per share for $113,022 for employee compensation; (ii) issued 10,870,167 shares of common stock valued to professionals and contractors at fair value ranging from $ 0.55 to $1.00 per share for 6,886,045 for service compensation; and the shares issued by the Company were valued at the trading price of the stock on the date the shares were issued.

and the cycle goes on...

[ks1977]

Let's see how many of those shares went to Solomon and Dan for all their hard work

This could very well be the compensation scam for Solomon; 360 000 (or was it 330 000?) / 0.40 (or whatever) = 900 000

[Traderfan]

Another such big increase? Looks like next week won't be pretty.

[emptyone]

Where are you getting the info about the increase in shares from RD?