Banro Corp. fka BAA

[investorwisdom]

They had this planned, they had to know all along and were making deals under the table and playing favorites, while the investors were in the dark and left holding the bag. This is just about the worst outcome any investor could of imagined from the narratives we were given. There was no reason to do what they did. Serious conflicts of interests are going on with the board and its big investors and the common investors were written out of the script. This is a cowardly path the board of directors have chosen. Banro needs new management. I don't see how pushing out this loan 4 years will do anything, if these are the type of deals they are going to make, no investor will ever drop another penny into the company. I feel like Banro making this deal is throwing in the towel and giving up! How can this make any sense, they could of just done a R/S and sold notes or more common to pay off the loan. I never heard of issuing a 70% dilution to refinance with only a 4 year extension after the 2 decade history of the company. Leaving all the investors along the way up the creek like this. Incredible, just incredible, why ,why ,why ????????