American Fiber Green Products (fka AFBG)

[havatampa]

10-K Analysis. I was rather favorably impressed by the 10-K. It shows $100,000 in revenue; although this isn't a large figure, it was all in the fourth quarter (there was no revenue in the first three quarters.) Gross profit at 23% of revenues is quite good.

More importantly, there appears to be very little dilution. Shares outstanding at March 30, 2012 were 11,543,235, which is only a slight increase over shares outstanding as of the last 10-Q, and it appears there are no outstanding options, warrants, or other dilutive securities (there are a few small convertible notes). I was concerned we might see quite a bit of dilution, but it appears they have generated the revenues with existing facilities and capacities.

All in all, a very positive report, and I'm looking forward to the first quarter 10-Q for more progress.

I'm surprised the stock price hasn't changed much. It was trading at $ .35 to .50 when this company was a shell with no operations, and it's still trading in that range. I think it's mainly because the stock is "under the radar."