Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (17108)	5/22/2003 4:23:20 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78954

And I'll buy a little NETM too. Another in the market-price-below-cash genre. From the NETM 4/30 p.r.: "Cash and cash equivalents increased to $28.8 million at March 31, 2003, from $24.0 million at December 31, 2002." Yahoo shows d/e =0 and bv. = $1.85/sh. Market cap at today's close ($1.90) = $16.4M They have a cost reduction plan underway (Who doesn't?), and maybe that can stem losses. There seem to me to be almost too many of these teeny IT companies that have too much cash and not enough business-- where the business model stinks and a management in denial fritters away assets

To: Paul Senior who wrote (17108)	5/23/2003 1:16:55 AM
From: James Clarke	Read Replies (3) \| Respond to of 78954

Thanks for the heads up on EBSC. I sold the Dutch auction what, two or three years ago. Couldn't resist buying a few thousand shares today at roughly the same price I sold at before. Two bidders, one of them effectively saying they're willing to pay more than $5, $18 of tangible book value. I was watching posts on the stock on this site the last week and thinking - $10 - you're just as naive as I was when I bought this piece of crap and put other people into it three years ago, but then I saw the second bid and really looked at the balance sheet and said hmm, maybe this time it works. I couldn't believe how easy this was to buy at 5 today given the news on the tape. Paul and those of you who have been on this thread for years will remember I used to do net-nets with a lot of other criteria to only find the best of the net-nets. EBSC is the only one I ever lost money on out of maybe 10 or 12 stocks. I haven't bought a net-net in three years - if I can make money on this EBSC trade I can make this a 100% record.