Replies to post #34423 on Sino Agro Food Inc (fka SIAF)

[Andrew26]

So he could enforce his will, raise the A/S to 160M and then sell 50M shares at $0.50 to achieve his targeted goal of raising the capital?

Unless things change and he retires his special prefs always representing 80 % of the shares, yes he has the power to do anything he has in mind.

[Lucky Loser]

No, but he does have to fill in the blanks once the SEC declares it effective, and as I mentioned in a previous post the company would have to had submitted a brief on what it anticipates selling, and the justification behind it. Again, the SEC does look out for shareholders, and would unlikely provide the Company a first go starting at $0.50.

That said, the "next offering" after the initial 180 days could see shares increased and PPS lowered. Filing this addendum would not require SEC approval, yet would require disclosure for the adjustment of terms.

This is why I mentioned that the disclosure (whether to the SEC or to FN) would more than diminish investor appetite for the stock, and likely dry up the market, even at $0.50.

Not sure if the Company can afford going back to "business as usual" without wearing kid gloves throughout the process.