DJSP Enterprises, Inc. (NASDAQOTH:DJSP)

CAPS Rating: 3 out of 5

Recs

5
Player Avatar kidderpeabodyny (31.51) Submitted: 11/17/2010 4:39:30 PM : Outperform Start Price: $2.48 DJSP Score: -105.09

DEAD< DEAD< DEAD cat bounce?
I'm staying in this one with UltraLong and TDRH, can only lose another $0.42!
So employees cut from 1000 to 300 in 2 weeks..good mgt decision in light of lost buss with FNMA and FRMC.
So, this lawyer is under investigation by the attorney general and might lose his license, and they have 9 days to come up with $12 mill repayment of principal loan to Bank America or default and $2 mill credit note outstanding, I wouldn't pay my rent either till they kicked me out, anyway it's still november, and everyone is late once in a while! Another good management choice, If they do file chapter 11, they still have some money in the till. And great press job, saying the company is doing their own investigation with outside auditors. Hey, more good news, the short positions on this company have evaporated, and stock bounced up 9% today.Anyhow, they did set up buss in four separate companies, and still have an Abstract company, which may have value. and what about RECEIVABLES? Note, they were real busy up to last month, and even had a P/E ratio, which is more than we can say for most soon to be bankrupt companies. Note, that even the major companies like Wells Fargo and Bank America are having major issues with how they processed foreclosure documents, in the midst of the busiest time ever for the "industry".
THE JURY STILL NOT OUT!!!!!!!

EVEN if this lawyer and CEO ends up in jail.
PS, there will be at least one class action suit against this company

Report this Post 2 Replies
Member Avatar TDRH (99.68) Submitted: 11/18/2010 6:16:25 PM
Recs: 0

If it does not go the way of the dodo and Arthur Anderson, it has potential. Somebody needs to process the foreclosures. I like your entry point better than mine.

Member Avatar kidderpeabodyny (31.51) Submitted: 1/7/2011 4:15:14 PM
Recs: 0

What's with this Supreme Court decsion today?Seems the stock is responding to it positively, up 2.89%.But will clients come back to them for a refund? Or will they not bother to pay the Receivables at all, if billed and not collected..I thought the large amount of business they previously did, would result in large receivables outstanding. What's anybody's thought?

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