Let me offer my take on the most likely scenario going forward, with a couple of truths some might find uncomfortable.
Truth #1- The market has not and does not like AMFE and in order to change that setiment, the audit needs to be completed and uplist needs to occur. The bleeding pps over the last 10 months and chronic insignificant daily volume attest to this truth. As important as the A/U is, the market also wants to see Gro3 deals done. Even more significant is that the market doesn't really "get" AMFE. The market views this stock as "just another restaurant stock" as evidenced by Alan Brochstein when he dismissed AMFE back in late 2017 on SA. What the market doesn't get is something Rocket has been pounding the table on a daily basis...Publishing and to a slightly lesser degree, Distribution. That's where the hidden gem of AMFE is, but is overlooked by the market. With patience, LONGS here will do well assuming Pub/Dis do even half as well as we are thinking. As this aspect of AMFE is unpredictable, we'll just have to hope that Roger and Co come through and deliver.
Truth #2- There IS a problem with the audit. Let's step back and look at this logically with a big picture view. April 6th, we were told that they were very close to filing the audit, but here we are nearly 2 months later and with the help of CFO going on 5 weeks, and still no audit. I think the uncomfortable truth is if the changes were really that insignificant, then CFO would have had it completed on their end by now and we would have filed it. The only logical conclusion is that the remaining aspects of the audit are anything but simple and the problems that have come up are trying to be dealt with, but it would seem apparent there are obstacles preventing this from happening.
Although anything can happen, I am predicting that we still have a ways to go before the audit is complete with the subsequent uplist. I'm lowering my expectation to around Q4 fins which is mid-August. I fully expect the pps is continue to bleed because as of right now, there is no reason to reverse the downward trend. Also, as we are all aware, we are now in the dog days of summer where the market in general tends to trade sideways which certainly doesn't help our AMFE cause. My suggestion would be to go and enjoy the summer months and put AMFE on the back burner. Put some low buy orders in and get some additional shares on the cheap. Good luck to all LONGS.
