Current Report Filing (8-k)

Date : 12/18/2018 @ 9:07PM
Source : Edgar (US Regulatory)
Stock : Sino Agro Food, Inc. (QX) (SIAF)
Quote : 0.25  0.05 (25.00%) @ 8:40PM

Current Report Filing (8-k)

 

 

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

_________________

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

_________________

 

Date of Report (Date of earliest event reported): March 17, 2017

 

SINO AGRO FOOD, INC.

(Exact Name of Registrant as Specified in Charter)

 

Nevada

 

001-54191

 

33-1219070

(State of incorporation)   (Commission File Number)   (IRS Employer
Identification No.)

 

Room 3801, China Shine Plaza

No. 9 Lin He Xi Road

Tianhe District, Guangzhou City

P.R.C.

 

510610

(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (860) 20 22057860

 

Copies to:

 

Sichenzia Ross Ference LLP

1185 Avenue of the Americas, 37 th Floor

New York, NY 10036

Attn. Marc J. Ross, Esq.

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 DFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company x

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. x

 

 

 

 

 

 

FORWARD-LOOKING STATEMENTS

 

This Current Report on Form 8-K contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to (i) securing capital for general working purposes, and (ii) other risks and in statements filed from time to time with the Securities and Exchange Commission (the “ SEC ”). All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to, and will not, update any forward-looking statements to reflect events or circumstances after the date hereof.

 

 

Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement.

 

On August 29, 2014, Sino Agro Food, Inc. (the “ Company ”) issued a Promissory Note (the “ ECAB Note ”) to Euro China Capital AB (“ ECAB ”) in the principal face amount of $33,300,000, as subsequently amended by a Restructuring Agreement executed in July of 2017 (as so amended, the “ New Note ”).

 

We received a notice of default (the “ Notice ”) from ECAB on December 12, 2018 contending that the New Note was in default because (i) SIAF has not made repayments on the New Note in the manner prescribed by its terms, and (ii) of certain other unspecified events of default. While ECAB stated in the Notice that it has not elected to accelerate the right to repayment of the entire principal amount, including accrued but unpaid interest on the ECAB Note, it reserves the right to do so.

 

Prior to receipt of the Notice from ECAB, the Company was attempting to reach a negotiated settlement with ECAB. Notwithstanding receipt of the Notice, the Company hopes to continue to work with ECAB to settle its obligations under the ECAB Note. The Company intends to vigorously defend its position should a mutually amicable resolution prove unattainable.

 

 

 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

      SINO AGRO FOOD, INC.
         
 Date:  December 18, 2018   By: /s/ LEE YIP KUN SOLOMON
        Lee Yip Kun Solomon
         Chairman and Chief Executive Officer

 

 

 

 

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