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larrybaz

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larrybaz

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Re: nelson1234 post# 93824

Saturday, 01/01/2022 10:20:01 PM

Saturday, January 01, 2022 10:20:01 PM

Post# of 113949
AFI - Nelson, congrats on that piece of news. AFI seems to be the turnaround that never quite happened.

The company is bleeding red ink and has been for quite awhile now. In the first quarter they sold one of their properties in California for over $40M.

Market cap before yesterday's news was $43M. They still own quite a few properties. I have no idea what they're worth, though.

This should be very interesting to see what happens going forward. The company is losing all kinds of money on an operating basis, but probably has some valuable assets. Tangible book value is about $8.72 a share.



I have seen lots of $1 stocks with strong earnings and solid balance sheets triple, quadruple and more, but I have yet to see one go below zero.

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