IFAN Financial Inc (IFAN)

[silvermintz]

"What is being proposed isn't an actual business that needs a public shell."

That pretty much sums it up for me. When I read that "new management plans to purchase real estate"' initially, I assumed it was a small building to house the operations of that (now debunked) soho venture. It's the only connection that made any sense to me.

The only way this company can grow is to continually purchase more real estate, because tenant rates (revenue) will remain relatively stable. If this were the soho venture it'd have the possibility of growth potential, but this is apparently going to bring in at best $4M revenue until more properties are purchased. Not the worst idea I've seen for a shell, but certainly not ideal.