Ann: FY12 Production and Revenue Report , page-39

Thank you all for your insitefull posts here which I have been following, and without which I would have not have known much about the complicated debt structure.

@Tannin Is completely correct regarding the statements on TII, which I just checked. It appears the points sumarised by the previous poster were completely correct but did not tell the whole story of what TII conclude and it is worth reading what TII say for ourselves (they offer a free trial if you are not a member)

TII are still positive/neutral about IFN, or at least a hold, noting the considerable upside possibility, but their downside worst case scenario has dropped 6 cents from their initial forecast. That is their worst case if the parent company is bankrupt. Subscribers who bought on the initial recommendation should take profits if not comfortable with the increased risk. They also comment that the debt market seems to be currently not anticipating a default, but rather pricing in the fact that IFN pays such a low rate of interest on its debt. I only read it quickly so don't take my word but read it yourself - I am trying to be vague in my response because everyone should read it for themselves not just believe what we say.

If many bought up based on the initial TII recommendation, it is understandable they are selling now. I was hoping the drop would be contained at the 50% retrace but it has not held. I am not sure I want to hold any more looking at the technicals, but if sold would look to buy back in at 20c again. Tough call all round though, will look for it breaking the rising trend line and 61.8% retracement at 24.5c maybe.

Thanks again to Marble, Max and others for providing all the information on this thread which I believe every IFN holder should understand. I had not delved deeply enough into past reports to find it myself. I can not thumbs up you all enough.