I just keep buying (stupidly?) KDUS (now trading at 72 cents), the bulletin board stock that has $1.90 or so cash/ per share, a 30% (not positive about that percentage-might be diluted by other investments) interest in Axiom, a privately held biotech company, current license fees of $100,000/yr., plus blue sky for licenses/royalties from its other patents. The CEO and only employee, Mr. Glass,(the company is a shell) is Carl Icahn's lawyer or main man, from what I've heard. Carl owns about a quarter of KDUS.
There's over $20 mil in cash, so at, say, 5% interest/ yr., maybe Glass and the accts. and lawyers won't have to go into principal to pay their salaries/fees this year.
BMY owns/owned 2 mil shares, but have been selling. Why, I can't figure. Capital losses to offset capital gains?
Maybe it's the bulletin board status that's a turn-off? Maybe it's the 23/32 price...or the obscene spread the market makers take? I'm not sure what the catalyst is that takes the stock to where it should be, over $2/sh. Maybe someone buys it out, although they're taking their sweet time? I just keep telling myself that I'm getting a couple bucks of cash and assets for my 72 cents. Maybe I better take some more of my medication? [g] |
