My pick is DUAP
Although on some days they don't have 25k daily volume!!
DD on Durango Apparel Inc. (DUAP)
Trading at .04x.08 in the pink sheets
From the 2/5/2000 10Q
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Shrs Out 9.87 mil
Float 5.50 mil
Cash/share $ 0.12
Book Value $ 2.96
History of Durango Apparel, Inc
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- Formally Chic By H.I.S. (JNS, JNSC), name changed to
Durango Apparel Inc.
- JNSC was de-listed from the NYS on 03/17/2000 to the OTC
Pink Sheets.
- Having financial problems, they sold the global trademark
rights of the CHIC and H.I.S. brand names to VF Corp, the
world’s largest apparel company. Currently, they are
waiting to close the final $40mil acquisition deal (see
below). These transactions will provide the company with
much needed capital and allow them to move forward as a
quality manufacturer for private label customers
utilizing our state-of-the-art facilities in Mexico.
- Revenues for the Qtr ending 2/5/2000 were about $45mil
- The Company currently is manufacturing for VF, Levis,
J.C. Penney's and others.
- Daniel Rubin, CEO of DUAP (212) 302-6400, owns over 200k
shares per SEC filings. He has paid up to $7.69 for
shares purchased in the open market. His father also owns
80k shares. In June 2000, he purchased another 15k
shares in the open market.
- Newbridge Capital, Inc (OTCBB: NBRG) has made a tender
offer to buy DUAP. They are offering 1 NBRG share for 12
JNSC shares. It appears that DUAP is not interested in
being acquired by NBRG. NewBridge Capital Inc.: Jonathan
Small, 949/833-2094 (ext. 723)
- I have spoken to Mr Rubin several times, he does return
calls.
- www.DurangoApparel.com registered 5/22/2000.
DUAP has much more than just a manufacturing facility.
They also have extensive experience in market clothing.
Here are several excerpts from the 11/06/1999 10K:
- During fiscal 1999, the Company sold its products to more
than 1,000 retailers, which the Company believes, operate
over 7,000 stores in the United States.
- The Company also started to sell merchandise in the
Canadian market.
- Most of the Company's sales in fiscal 1999 were made to
mass merchandisers and the remainder was made primarily
to department and specialty stores. Sales of the CHIC and
H.I.S product lines to the Company's two largest
accounts, K-mart Corporation and Target (a division of
Dayton Hudson
- The Company also markets similar apparel in Europe,
primarily in Germany.
- The Company advertises its products nationwide through
television and print media.
- The Company's in-house merchandising department develops
jeans and casual pants product lines, including the
pricing and packaging for each line.
- In recent years, European sales have expanded beyond
Germany, Austria and Switzerland into surrounding
countries, including Poland, the Czech Republic,
Slovakia, Belgium, Luxembourg and the Netherlands.
SEC filings for Durango Apparel (DUAP)
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freeedgar.com
VF Corp $40mil acquisition
--------------------------
VF Corporation (NYSE: VFC - news), the world's largest
apparel company, has signed a letter of intent with Chic by
H.I.S, Inc. to acquire its majority stake in H.I.S.
Sportswear AG. The share acquisition is subject, among
other things, to satisfactory completion of due diligence
by VF, regulatory approvals and the successful completion
of a proposed tender offer that would result in VF owning
more than 75% of the shares of H.I.S. Sportswear AG. VF
will be offering 9.25 euros per share for the remaining
H.I.S. Sportswear AG shares, which are listed on the Munich
and Frankfurt exchanges. If 100% of the shares are
tendered, the aggregate purchase price for all of the
H.I.S. shares upon successful completion of the tender
offer will be approximately $40 million
SEC filings for Newbridge Capital, Inc (Scientific NRG)
-------------------------------------------------------
freeedgar.com
NewBridge Capital, Inc. offer to buy Chic by H.I.S., Inc.
---------------------------------------------------------
freeedgar.com
biz.yahoo.com
Chic by H.I.S., Inc. sells Chic label to VF Corporation
-------------------------------------------------------
biz.yahoo.com
3/17/2000 Chic By H.I.S., Inc. de-listed from NYSE
--------------------------------------------------
www.NYSE.Com <http://www.NYSE.Com>
NEW YORK, March 9, 2000 -- The New York Stock Exchange
announced today that trading in the common stock of Chic By
H.I.S., Inc. (the "Company")-- ticker symbol JNS -- will be
suspended prior to the opening on Friday, March 17, 2000,
or such earlier date as i) the Company commences trading in
another securities marketplace or ii) the Company makes a
material adverse news announcement. Following suspension,
application will be made to the Securities and Exchange
Commission to delist the issue. The Company currently
expects to trade on the Pink Sheets upon suspension.
NOTE: I own stock in DUAP. This information is base on my
assumptions, SEC reports, news releases, and conversations
with management. This is not a recommendation to buy DUAP.
Please do your own DD (Due Diligence). |
