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Microcap & Penny Stocks : Shells With Cash: Let's Find Them!
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To: SusieQ who wrote (36)9/16/1999 1:28:00 AM
From: Glenn Petersen  Read Replies (2) of 67
 
Too small and probably too illiquid. Any buying would pop the stock and then you would be stuck. The fact that these guys have not done anything with the shell after four or five year is pretty discouraging.

You might want to check out CN. The stock is sitting at 1 5/16 and the company has approximately $1.51 in cash per share. They sold off their home building business earlier this year and are in the process of buying back 10.0 MM shares. The CEO personally bought a large block. They have added two technology related directors and have made a small Internet acquisition. They have stripped out most of the overhead and will probably earn 5 or 6 cents a share this year. They have done absolutely nothing to promote the stock. I think that they are waiting until they have completed their stock buyback. I get breathless just thinking about this one. LOL.

Only seven posts, give it five minutes. One post references some contingencies. These are not a problem. They have $5.0 MM in escrow and should be getting some of that back this quarter. I want to give the company a call before I post a clarification on this issue. I have not included these funds in my calculations. You can find the thread at:
Subject 29793
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