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Microcap & Penny Stocks : Afton Foods ( AFF ) -Franchise Consolidator -- Ignore unavailable to you. Want to Upgrade?

To: Brian Krenbrink who wrote (25)	3/9/1999 11:11:00 PM
From: David Michaud	Read Replies (1) \| Respond to of 60

A Household name...

To: Brian Krenbrink who wrote (25)	3/17/1999 8:47:00 PM
From: David Michaud	Respond to of 60

The company's fourth quarter results were a so due to: 1. A $70,000 provision for unexpected corporate capital taxes 2. a $70,000 reserve set aside to cover some receivables from some U.S. franchises that have been slow in paying. 3. The Christmas season resulted in a delay of the closing of a few new franchise license agreements from Q4 1998 to Q1 1999. 4. The calculation of bonuses pursuant to the company's management incentive program for which no provisions had been made in prior quarters. Complete audited financial statements will be available early next week for a more comprehensive review. We are generally satisfied with the results. Management is confident that Q1 1999 will exceed the same quarter in 1998 in terms of revenues and earnings. The financial results have been submitted to the TSE together with final paper work. The company's lawyer does not expect any problem relating to the proposed stock exchange mergers/re-alignments. Listing committee could not form a quorum this week due to spring break, so they are getting a little behind. Keep you fingers crossed for the 25th or 1st for listing committee meeting. Note the addition to the board of directors today (requested by TSE). Everything has been taken care of now. The due diligence review by the major U.S. acquisition financier went extremely well. The CFO was told yesterday that the due diligence manager was giving AFTN and its project a positive recommendation to his superiors. Looks like the financing for the major acquisition is progressing nicely. Also working on a back-up to the major planned acquisition just in case it falls through (better safe than sorry). The back up acquisition generates about $1.8 million in EBITDA annually and can be acquired for preferred shares convertible to common shares at $0.60 (pre-consolidation)! - no dilution. It may even be possible to complete both acquisitions although given the size of the larger proposed acquisition, Afton may need some time to digest the new operations and create the appropriate synergies, etc. before moving on with more purchases. ________ repost BLSH

To: Brian Krenbrink who wrote (25)	4/6/1999 8:59:00 PM
From: David Michaud	Respond to 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