AFN's final results on the LSE. Could this ultimat
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AFN's final results on the LSE. Could this ultimate loss being reported be a direct result of the subsidiary Investors Hub or IHUB and it's founder Matt Brown being incarcerated for securities fraud?
From an investors standpoint, I think IHUB should be unloaded ASAP as the filing below already shows where AFN has borrowed to extent of recovery. If this loan can not be repaid, 49% of the company is at stake.
Clem Chambers also states that all is good and competition is decreasing. I seriously don't get it then why a deal had to be made on a loan where 49% of the company is at a default risk for a corporate take over as it will be held by one person or entity.
http://uk.advfn.com/news/UKREG/2012/article/54658178
I don't know how Clem can jump for joy over this report as shareholders are deeply concerned.
Proven facts of AFN traded on the LSE as reported by the CEO Clem Chambers. See Below
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