I have followed NAAC since it ran up last time as an individual investor. I heard (I called IR and the company) that third quarter records 2 cents loss due to legal fee (Southern group revenues have not been added, but they will add it in fourth quarter). Third quarter earning report will be released very soon. Fourth quarter may be profitable, but a close call due to one time charge ($300,000) for lawsuit settlement. Their current businesses are still profitable.
I got the information from the company and IR firm. I often call them in order to keep me informed. I feel the management is solid, they appear to stick with their business plan, not follow the stock price. They firmly believe when the company makes big money, the stock price will catch up. As usual, it is a very small cap OTC BB company, they will face a lot obstacles they need to overcome. Particularly, they need to raise the capital when they want to expand their businesses. The stock can be 2-3 times bigger if they get through this time and 10 to 20 times bigger if they complete all the acquisitions they are working on. Of course they are big ifs.
Last time the stock went up from $1.00 to $3.00 within several weeks. But the dealy of these acquisitions, Reg S, MMs shortings, and Asian flu drove the stock down current level.
Have good luck to all!
James |
