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Microcap & Penny Stocks : Afton Foods ( AFF ) -Franchise Consolidator
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To: David Michaud who wrote (52)8/9/1999 2:14:00 AM
From: Dave V  Read Replies (3) of 60
 
I don't own any AFTN at the present time but a friend of mine does and wanted me to post this info. (He doesn't subscribe to SI)

A few things to report.
Mid next week, a research report prepared by CTI Capital on AFTN is expected to be released. Afton is apparently mailing the report to its shareholders and other individuals on its contact list (4,000+ investors). CTI is rumoured to suggest that AFTN's intrinsic value is at least $2.20 per share (post-consolidation).

The company's second quarter financial results are expected to be released during the week of the 16th. For the first six months of 1999, we expect earnings of $0.14-0.15 per share (based on latest discussion with management).

During the same week, AFTN and its representatives are expected to meet with senior cdn exchange officials regarding the listing application. The company has completed the debt refinancing and share consolidation as earlier requested.

Should have meaningful update on acquisition efforts in about a week. Indications were that all is going well in terms of the sub-debt financing and in negotiations with vendor. Solid plans are in place for a back up (smaller, however) acquisition should the larger acquisition fail
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