...can this charade continue? The ANFI story is predicated on being able to refinance a ton of high interest India-based debt with an offshore, low-interest facility that will not only save them $millions on interest payments, but also allow ANFI to build a new processing facility. Let's track the progress of the refi:
11/20/12 “We are in process of discussions with banks…[and will] hopefully announce some good news in the near future."
2/25/13 “We have received term sheets from several investment banks”
6/10/13 “We had soft conversations with a number of banks and they were all positive. Everyone is waiting for year-end audited numbers. Now the numbers are public so we’re working aggressively.”
8/26/13 “By the end of the year we should have something concrete”
11/11/13 “You should hear something from us in the next eight to twelve weeks”
2/25/14 “We are targeting by middle of April, if not end of March”
How long can this continue? They've already missed their most recent target for the 6th time. ANFI's #2 guy left with barely a mention several weeks ago? Something's clearly "up" here.
Something is up? Are kidding? This Company runs on hope from Wall ST. side and runs on corruption, forgery, and pure FRAUD from the Indian side. This company is worth $3-5 not a penny more. A disaster in the making what you mentioned is jus the tip of the ice berg. Insider trading among officer and brothers within this company is o obvious my 7 years old made a novice of it. Indian are smart but the Indians that run this company are genius as far as deceiving a GREEDY wall street. My father used to say: Do you know who always defeat and beat the greedy? the LIAR. Good job putting all these dates together for others to make the right decision. This is a time bomb ready to go off. BEWARE....