A year ago, AFA was touted by the Sydney Morning Herald small cap shill, in an Under The Radar column straight out of The Onion. The shill admitted to having no idea how the company purportedly made money. The slimy shill then recommended small investors "throwing caution to the wind - rather than digging too deeply into the detail." The small cap shill then praised how AFA's chairman once "won a singing contest" and lauded AFA for having "very few costs".
http://www.smh.com.au/business/under-the-radar/a-small-cap-in-the-dragons-saddle-20120829-24zoq.html
How much the shill was bribed for this insane column, if anything, is of course unclear. Lacking the slightest shred of integrity, it stands to reason the shill would sell himself for next to nothing. If he wasn't bribed for this column, in some ways that makes his conduct even more pathetic.
AFA engages in ramping, revaluation and reclassification of assets, as well as various related party transactions and loans. AFA has never had actual positive cash flows, it solely functions as a vehicle for securities fraud. With ASIC's blessing, AFA simultaneously issues and buys back its shares, allowing it to control its own "market" price. According to ASIC, such manipulation is just a great feature of the "market".
How much the shill was bribed for this insane column, if anything, is of course unclear. Lacking the slightest shred of integrity, it stands to reason the shill would sell himself for next to nothing. If he wasn't bribed for this column, in some ways that makes his conduct even more pathetic.
AFA engages in ramping, revaluation and reclassification of assets, as well as various related party transactions and loans. AFA has never had actual positive cash flows, it solely functions as a vehicle for securities fraud. With ASIC's blessing, AFA simultaneously issues and buys back its shares, allowing it to control its own "market" price. According to ASIC, such manipulation is just a great feature of the "market".
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