this came in my e-mail box today.
Cavalry you and your thread are now famous ( i guess)
CFCnews
Here is what I have on this most interesting situation. PESO is a company
with Millions in sales and good profits. Stock was trading at the $6.00+
level for a long time, then was shorted down fast to .43 bid in a matter
of a week.
Northport Industries (PESO) in my opinion a loaded bomb ready to explode.
Any buying pressure will send it going and combine this with short
covering.
Here is a link to a thread on Silicon Investor that is talking about it
and the DD done by one of the posters.
Subject 22771
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PESO-NORTHPORT INDUSTRIES/ FLOAT 50,000/SHORT POSITION APPROX 500K
HERE IS THE START OF DD I DID ON PESO
growth through aquisition and by growth of intellectual properties
purchase of company as well as patented technology
go2net.newsalert.com.
here is copy of patent and claims of exclusivity
patents.ibm.com
patents.ibm.com
unaudited financials, profit up 133%, revenue up almost 300%
go2net.newsalert.com.
W.E.T. Automotive deal could add 10 to 20 cents eps huge potential
go2net.newsalert.com.
Northport Industries Inc.
Spur 233 and Alderete Road
Del Rio, Texas 78840
President
Bob Michelini
Transfer Agent
American Registrar & Transfer Company
10 Exchange Place, Suite 705
salt lake city, utah, 84110
total outstanding shares 5,002,000
float 51,000
In january 1998 there was a merger/reorganization between original company
and versatch industries inc, 4,950,000 shares more or less of restricted
common stock shares
were issued to the shareholders of versatch industries inc,
whereby the name was changed to northport industries
The plan of reorganization was effected on or about 1/28/98
as such all but 50,000 common stock shares held by the original
shareholders are subject to a one year holding period imposed by rule 144
and not subject to sale in market transactions prior to 2/99.
PESO-Northport has produced quality products for customers such as General
Motors, Chrysler Corporation, Fischer Price, Phillip-Morris RJR, Proctor
and Gamble, Frito Lay, Fossil Watch, Motorola, AT&T,
SC&T, Gerry Evenflo.
northports current operations include
leather sew, wrap and assembly of gear shift handles and steering wheels
for u.s. auto industry including Cadillac, Oldsmobile and Saturn, various
models of children's car seats and baby accessory products for Gerry
Evenflo, bean bag chairs sold through kmart, target and walmart, and
various size golf bags along with new deal with W.E.T. heated car seats
division.
current monthly sales estimates 420k month with increased production
demand from existing customers and new orders on a rapid rise.
what do you think.
PRGS and VRTY had great earnings reports.
interested to see how the stocks will open today.
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