Sino Agro Food, Inc. Replaces Audit Firm with Anthony Kam and Associates, Ltd.
GUANGZHOU, China, June 19, 2013 /PRNewswire/ -- Sino Agro Food, Inc. (OTC BB: SIAF.OB), an emerging integrated, diversified agriculture technology and organic food company ("the Company") with principal operations located throughout the People's Republic of China ("PRC"), announces that on June 19th it appointed Anthony Kam and Associates, Ltd. ("AKA") as its new independent registered public accounting firm.
Ted Madsen, the remaining principal of the Company's prior independent registered accounting firm, Madsen & Associates CPAs, is retiring, and the firm is winding down all its audit engagements. The Company expresses its appreciation and well wishes to Ted, after his six years of diligent audits.
AKA is a well-established international audit and accounting firm headquartered in Hong Kong, with the capability to issue audit reports in U.S. GAAP, IFRS, and China accounting standards. It is registered with the PCAOB and is also a registered auditor in Hong Kong. AKA has five affiliated certified public accounting firms with principal places of business in Hong Kong, Guangzhou and Zhuhai in China, Malaysia, Singapore, and Indonesia. Over 190 professional and staff members manage and operate the Hong Kong and China accounting firms.
Given Sino Agro Food, Inc.'s plans to seek debt financing to complete the business developments under its five year plan, and to expand its market presence in Hong Kong, the Company feels it advantageous to engage the services of a qualified Hong Kong audit firm; one that is duly registered with the PCAOB, and well staffed to meet SEC reporting requirements in a timely manner.
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.
SOURCE Sino Agro Food, Inc.