AsyncFtpClient ftp = new AsyncFtpClient();
IAsyncResult result = ftp.BeginConnect( "ftp.server.com", null, null );

while( !result.IsCompleted )
  Application.DoEvents();

ftp.EndConnect( result );

result = ftp.BeginLogin( null, null );

while( !result.IsCompleted )
  Application.DoEvents();

ftp.EndLogin( result );

result = ftp.BeginGetDownloadStream( "test.txt", 0, null, null );

while( !result.IsCompleted )
  Application.DoEvents();

using( System.IO.Stream stream = ftp.EndGetDownloadStream( result ) )
{
  byte[] buffer = new byte[ 32768 ];
  int bytesRead = 0;

  // Loop until we have nothing more to read from the source stream.
  // We are assuming that the data contained in the file is text
  string data = string.Empty;
  while( ( bytesRead = stream.Read( buffer, 0, buffer.Length ) ) > 0 )
  {
    data += System.Text.Encoding.ASCII.GetString( buffer );
  }

  System.Diagnostics.Debug.WriteLine( data );
}