As one of the original investors in ANN when we first launched it back in March of 1995, I am pleased to report that our system has facilitated almost $600 MILLION in private note transactions during the past 5.5 years. A great deal of this was previously hard to place paper… as a result of the communication network it established between note brokers, we essentially created the equivalent of a secondary marketplace for the private note industry, and greatly increased the liquidity that was previously missing in the private paper arena.
Like anything else, it works better for some than for others… but the numbers speak pretty well for themselves I think.
Frank,
If you are referring to their note listing service, I have sold notes as a result of it. You will always get quotes- sometimes a dozen or more, then you have to narrow it down to the real ones.