Ann: Completion of Senior Loan Refinancing and Eq, page-18

re: Ann: Completion of Senior Loan Refinancin... Hello adds.

Looks like you and I are just about the last two retail shareholder HotCoppereites, still posting on this thread.

Good for you being able to get the stock bellow the insto's.
The misfortune that hit the Japan hammered the SP and presented a buying opportunity for courageous investors, ready to pounce.
In the old country where I come from, there was a saying:
Everything bad is good for something.

The English version specific to markets goes Buy in Gloom, Sell in Doom.
A person investing in AJA at the moment could be be called a Contrarian and if the SP rises ( as I hope it will, eventually), he might be called a savvy investor.

I will confess I am a bit of Contrarian myself and would agree, that bellow $3 AJA looked cheap.

I do not know how long you intend to hold AJA or what your investment objectives are. AJA is not potential multibagger, IMO.
But so far it always paid the distributions on time and the distro's value as promised.

I did not see the Fat Guys report, I am not a subscriber, I believed they were positive on the stock previously, it is good to hear they are positive still.

I am operating my own SMSF and would hate to drop 75% on any stock in my portfolio. AJA being a diversified property trust operating in Japan, is unlikely to do the same, IMO, I hope , anyway.
They have 46 odd buildings in few cities, not just one, the rents seem to cover the interest quite comfortably, most loans are non-recourse, so far AJA was able to rollover the loans about to expire at pretty good terms, considering the circumstances.

My SMSF strategy is to invest in stocks that will pay a dividend better or much better than term deposit. I do not mind if the SP drops a bit over all, if the the divi is exceptional.

Part of the divies pays my pension, part goes to to buy some more of my pillars, I would like to see my capital growing by at least 4% a year to compensate for inflation.

Now, if I have any funds left over or if my pillars have risen in value and are up at least 4% (my minimum growth target), I go for spec stock with calculated risk (one at the time). Last year it was OBJ where I build a fair stake with my surplus funds and exited with 100% profit.

Year before I did well with Myers convertible notes. I was planning to hold them for the yield as long as possible, since I got them cheap but they were redeemed on IPO.
I also bought some QAN at$1.50 (being a contrarian) and almost doubled my stake when I exited.

AJA was supposed to be one of the pillars, as every balanced portfolio designed for long term steady growth should have some real estate component, according to fin advisers, but AJA became a bit of a stump, nothing pillary about it. Yes, fat distributions did arrive but before I managed to cash the cheque, the SP dropped by almost same amount sometimes more, other time less. So the yield was a lot less than I was expecting, and AJA had mildly negative effect on my overall results. Fortunately I picked up some decent winners to make up for it and more.

Every year, including this one, I write down my AJA book value and hope that this year, it will finally return good profit.

I hope we will finaly get lucky with this stock, you and I.