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Microcap & Penny Stocks : Afton Foods ( AFF ) -Franchise Consolidator
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To: Brian Krenbrink who wrote (25)4/6/1999 8:59:00 PM
From: David Michaud   of 60
 
Name: Grant Robertson
E-Mail: groberts@stockreviews.com
Date/Time: 4/6/99 6:37 PM
Subject: Afton Food Group - AFTN-CDN
Body:

AFTN is currently in the queue to the TSE listing committee meeting as we previously reported. The application is largely in the hands of the TSE now. Due to holidays, the committee will likely not meet this Thursday. Hopefully, AFTN will be on the agenda the following (next) week. The weakness in the stock price during the past few days is related to:
1). concerns over protracted delays in the TSE application process - investors are growing tired and impatient (frustrated)
2). perhaps some profit taking from those who purchwssed in the $.10-.12 range
3). some investors that may have not previously been aware of the company's plans for a share consolidation (will likely to required by TSE), have become aware of this and decided to wait on the sidelines.
There is no change of status in respect of the acquisition plans. The company fully intends to move forth aggressively with its consolidation strategy as soon as a senior listing is in place.

Management clearly reinterated its earlier comments regarding the first quarter results which are expected to be stronger (both revenues and earnings) than Q1 last year.

Basically, nothing has changed since my last report.

The market makers appeared to go on holidays this after noon, allowing the spread to open up considerably. One order was fullfilled at $0.125 - ouch! The bid support seems to be very weak. Hopefully this will improve tomorrow. I will keep a close eye on this in the morning.

Grant
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