Message #48 From:
troutfishermankk Date: October 2, 2007 03:42:46 PM
AANI
I bought into AANI about a year ago at approximately 1.15 after seeing the company featured on Stockwire.com. I still maintain my position even though I think it's lost money.
In April I was in New Jersey and stopped into the companies headquarters to see if I could learn what's going on and what the forward looking prospects might hold in store. They have two floors of a nice three story building but when I went in I couldn't find anyone on the first floor. I found a couple of people on the second floor and ended up talking to two of the principals. The claimed they have cut staff to 5 to 10 people due to lack of funds. There main product, in house bundling of services, appears to be very expensive to install. They talked about changing course and concentrating on developing software programs and outsourcing to India because of lower wages. They have a lot of offices and work space but for the most part they were unoccupied. Remember only a few employees.
Here's my impression, Some smart guys formed a company and developed what appears to be some good equipment. The problem is they can't sell it to anyone in any quantity. They hired a staff but because of a lack of funds had to lay most of them off. A few of the inner core remain, they stated they all took cuts in pay, and I'm not sure of what they do or are trying to accomplish. They are constantly in a search for funds and I don't know how long they can continue as a viable company. They recently enacted a 10 to 1 split and I can't figure out why, it doesn't make any sense to me. I still hold a position, expecting them to go out of business and hoping that a miracle will save the company. I wish them success, but I do honestly think that they will not survive. I took a chance, and lost. You win some and you lose some.
