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Amira Nature Foods Ltd. Message Board

  • edwardnessario1 edwardnessario1 Apr 23, 2014 5:00 PM Flag

    How Long...

    ...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.

    IMO

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    • 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....

      Sentiment: Strong Sell

 
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