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AFGC~~~On August 30, 2017, the Company filed a Current Report on Form 8-K disclosing ongoing tortious interference committed by certain governmental individuals and instrumentalities in Angola (the “Angolan Governmental Trespassers”) against Company and its Isha Project and Pina Project real estate assets, located in Luanda, Angola (comprising a total of 64 apartments and commercial space, the “Angolan Real Estate Assets”). Since then, the Company has been pursuing all available remedies at law and in equity in Angola to end the tortious interference and protect the Company’s interests in its Angolan Real Estate Assets.



In addition, on November 15, 2017, the Company commenced a lawsuit in the United States District Court for the District of Columbia (the “Complaint”) against the Angolan Governmental Trespassers and related Angolan governmental individuals and entities for damages in excess of $55,000,000, among other remedies.



Despite an Angolan court subsequently issuing an order to remove the Angolan Governmental Trespassers from the Angolan Real Estate Assets (the “Angolan Court Order”), Angolan governmental authorities did not succeed initially in executing on the Angolan Court Order and removing the Angolan Governmental Trespassers. On January 31, 2018, after the Angolan Court Order was amended at the Company’s request to empower the Angolan military police to enforce the Angolan Court Order, some of the Angolan Governmental Trespassers were removed from the Angolan Real Estate Assets.



As of February 9, 2018, the Company continues to monitor, manage and mitigate damages related to the above-referenced illicit interference in its Angolan Real Estate Assets. Recent developments have reaffirmed the Company’s belief that the matter will be resolved without long-term adverse effect on the financial condition of the Company


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