GUANGZHOU, China--(BUSINESS WIRE)--Sino Agro Food, Inc. (Pink Sheet: SIAF), an emerging integrated, diversified agriculture technology and organic food company with subsidiaries operating in China, is pleased to announce it has responded to comments raised by Pink OTC Markets issuer services and filed amended disclosure documents.
The Company has filed an amended Issuer Information and Disclosure Statement pursuant to Rule 15c2-11 with Pink OTC Markets. The Company also filed the required State filings and cash flow statements under Pink OTC Markets guidelines. If there are no additional comments raised by Pink OTC Markets, the Company expects to meet the requirements of Pink OTC Markets guidelines for providing adequate current information which will raise the Company’s market tier to “transparent”.
The Company’s auditor has completed their onsite visits of operations. Work is being done to complete the final draft on both 2008 and 2009 annual audit reports. The Company expects the audits to be published in the next 2 – 3 weeks. The audits are being conducted in accordance with the standards of the Public Company Accounting Oversight Board by member firm Madsen and Associates, CPA’s. Upon completion of the audits, the Company will turn its attention towards preparing and filing its Form 10 which is expected to be filed by the end of second quarter 2010.
The Company currently has approximately 3,000 shareholders who hold less than 5 shares as a result of a reverse split at the time of the Company’s formation. The Company is currently working with its auditor, transfer agent and attorney to address this situation prior to its planned dividend distribution. Current plans are to “call” the shares and return them to treasury prior to a dividend distribution.
The Company recently launched a new website at http://www.sinoagrofood.com. The Company’s Information and Disclosure Statement and associated filings can be found at http://www.otcmarkets.com/pink/quote/quote.jsp?symbol=siaf#getFilings
ABOUT SINO AGRO FOOD, INC.
Sino Agro Food, Inc. (“SIAF”) (http://www.sinoagrofood.com) is an integrated, diversified agricultural technology and organic food company focused on developing, producing and distributing agricultural products in the Peoples Republic of China. The Company intends to focus on meeting the increasing demand of China’s rising middle class for gourmet and high-quality food items. Current lines of business include the manufacture and distribution of Bio-Organic Fertilizer and Stock-Feed, as well as, fisheries, dairies, and Hylocereus Undatus plantations. SIAF’s products are produced to meet the high organic quality standards of the United Kingdom. SIAF is owner of a patented process; the conversion of corn stalk into high quality feed for livestock and is the “Master Licensee” for China with exclusive right to a patented Bacterial used in converting food based agriculture produce wastes into nutritional feed products that are also applicable in the manufacturing of Bio-Organic fertilizer. The Company also holds the “Master License” for China on a modern re-circulating Aquaculture Technology “A Power RAS Technology” that has the capacity to commercially grow quality table fish and seafood free from chemical and pollution in enclosed modules on land in a system designed to promote economic sustainability and viability. Currently the Company has total employment of 520 persons of which 60 are skilled and experienced management staff.
FORWARD LOOKING STATEMENTS
This release contains certain “forward-looking statements” relating to the business of SIAF and its subsidiary companies, which can be identified by the use of forward-looking terminology such as “believes, expects” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on SIAF’s current expectations and beliefs concerning future developments and their potential effects on SIAF. There can be no assurance that future developments affecting SIAF will be those anticipated by SIAF. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. SIAF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.