Nexcen Brands Inc (NASDAQOTH:NEXC.PK)
The Company owns and manages a leveraged portfolio of mortgage-backed securities and other short-term government agency investments.
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Oros should have cashed out when he made the Forbes billionaires list back in 2000 with a company pulling in a whopping $6 mil in revenues. Now that's winning the lottery! Although I'm sure he's reaped far more rewards than I'll ever see, his company buying spree as of late lacks any luster. Only 1 in 20 ice cream stores make money and the retailers he's buying are dying brands.
The stocks been beat up as of late so if you're in for a quick buck maybe you can score, but long term NEXCEN is a dud.
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.. wouldn't want to be late at the NEXC party ..
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This company has a lot of cash ($100 m) , almost zero debt, and a huge amount of loss carry-forward (about 800mm) which is worth about $200 - 300m. So even if you don't believe it will make any money, it is worth about $350mm. A $10 share price in the near term is reasonable.
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This company doesn't know what they want to do. In the last 2 years they have been a wireless software company, a morgage backed security company and now an intelectual property company. If you can figgure them out, please let me know.
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