Skinnymocca, you are quite right.There are either or both of...

Skinnymocca, you are quite right.

There are either or both of these issues:

1. Refinancing the debt that is due at the end of May 2008
2. Financing the power station deal

Both are less than 400M$. AFG probably tried to approach the lenders and they refused. Now the way to get out of this is (a) sell assets (b) raise equity. That is perhaps what is happening, and if so - this is not something that a company cannot handle.

What could have also gone wrong:
1. Rubicon - but I doubt it, because RAT, RJT etc are still trading. That is a relief.
2. Previously unknown debt. Could be anything, running into hundreds of millions. That particular can of worms could have been opened when auditing the 1/2 Yr report. And, that worries me a lot ... and if this is the case, AFG is R.I.P.

The dumb charades of the AFG management have significantly screwed my joy and happiness ...