Replies to post #151276 on Sino Agro Food Inc (fka SIAF)

[zerohedge]

nawwww..... we know the original debt deal #pumpndump.

basically "management" pledged" all of their shares for the first tranche of what was a $25MM USD deal with a $37MM ending value -

management put up all their shares so they could get $5MM and then the additional tranches would come later under the same terms and condition - look at the DEEP FILINGS and you will know the truth.

shares went from $0.30 to $3 bucks on the reverse split - then there's the FDanielsson announcement "no more dilution" and they lined it up perfectly where the "FD Group" never owned enough at one time to be an insider and they were allowed to sell along with the insiders and their SURROGATE shareholders as the paid-pump took the stock to $17.00USD and we had some airplane group promoter talking $100USD parties and etc....

so the deal goes - SIAF was and still is locked out of capital markets and they were never able to register the shares for the OSLO group so they had to swap for DEBT that converted to shares and they're now sitting on some $30MM of principal and interest at a -50% discount to the VWAP which they're selling now since their shares couldn't otherwise be registered yet other shares were absolutely issued under separtate debt agreements and subsequently converted and sold - just as those who owned shares outright were swapped yet MORE DEBT for not selling to keep the weighted average shares "down" while they issued more and more and more to keep their new best friends the "FD" group happy - going so far as to hire a NORWEGIAN CFO who became so ungodly uncomfortable with the ACCOUNTING that they had to let him go or he was going to make too much noise.

we know all of this and much, much more......

they're down the the short and curls these days - doing an even worse -78% discount VWAP deal with #garrettgroup and of course the Norwegians aren't happy about being front-run by another toxic deal ahead of their own conversion and sales -

just know that it's going much lower and this is the bottomless deal we have said it was from the very beginning except that now it's materially worse converting at these prices but it doesn't matter at all because the discounts are all the same and they still make a ton of money - the same or better actually, as the share price implodes more and more.