NTWK UPDATE BY STELLARSTOCKS !!
Mirage Holdings (OTC BB: MGHI)- Now NetSol(OTC BB: NTWK)
On January 15th of this year we profileda software company called Mirage Holdings (OTC BB: MGHI). Mirage had come public in the summer of 1998 at $5 per share, andat the time was trading in the high $3 range with three years of double digit growth and consistent earnings from its inception.
Mirage is unique because theydevelop all their products in Pakistan, where they have highly skilledand talented software engineers, but costs run 10% of what they would inthe US. Their largest client is Daimler Benz Leasing. They have developed nearly all the leasing software for MercedesBenz finance companies world wide.
If you were not a subscriber at thetime that we covered this company, simply clickhere, and you will be taken directly to the original profile.
There have been several excitingdevelopments in recent weeks, and we believe that there will be a significant increase in the activity in this stock over the next several months,so we felt it would be timely to bring you an update on this Company now.
First, and most importantly, on Thursday,May 27th, Mirage Holdings (OTC BB: MGHI) changed its name to moreaccurately reflect the business of the Company. Mirage is now NetsolInternational Inc., and trades under the stock symbol NTWK. During the year, Mirage divested itself of all its holdings which were unrelated to its core business, and acquired 100% of its two subsidiary companies: Netsol PK, and Netsol UK. Therefore, the name change made sense.
Recent Developments at NetSol (OTC BB: NTWK)
Prior to the announcement of thename change, NetSol's most current press release related to theMarch quarter financial results, which is the Company's third fiscal quarter. The Company announced a 300% increase in sales over the same quarterthe previous year, putting results right in line with our expectations. Netsol is on track to complete fiscal 1999 (June) with about $5million in sales, and $500,000 in net profits EBITDA. In fiscal 1998, Netsol was able to achieve just over $2 million in sales. Therefore, investors that prefer companies with accelerating growth andearnings will not be disappointed in this Company's performance. Click here to read the pressrelease.
Another very exciting current developmentwas announced on April 8th. NetSol announced the formationof a strategic alliance with ICOM Infomatique of France to offerE-Commerce solutions to ICOM's current customer base. ClickHere to read this press release.
With over 900,000 licenses installed,ICOM Informatique is a leading European Web-To-Host software supplier.The company is quoted in the Paris stock exchange and is traded under thesymbol 'ICO.'
ICOM Informatiqueis a software developer specializing in PC-To-Host connectivity solutions for corporate network PC's users in legacy environments (IBM, Unix, Bull, Videotex). The company, founded in 1981, is based in France and has offices in England, Germany, and the USA and a worldwide network of focused andskilled distributors.
Coming Events
We had a chance to meet with NajeebGhauri, the President of NetSol last week. We were ableto get some ideas about what the future might hold for NetSol.
Mr. Gharui told us that basedon current order and business flow, NetSol has a chance of jumping to the $15 million range in sales for fiscal 2,000 which begins on July 1st. A 300% percent growth rate might seem high, but this is not out of line considering that the Company has grown at this multiple every year forthe last three years.
In the works are several other majorevents. The Company is currently going through a due diligence process with two regional brokerage firms which may pick up coverage on the stock. There are no guarantees, but early indications are positive.
The Company also plans to open itsNetSol US division later this year with the short term goal of beginningleasing software development for Daimler Chrysler (NYSE: DCX). The Company is already providing leasing software for Daimler Benzfinance companies on four Continents, and believes it can break into theUS Market.
If you never looked at NetSolInternational (OTC BB: NTWK), now would be a good time to do so. Their corporate due diligence Web Site can be found at www.mghi.comtoday, and will be changing to www.netsol-intl.comby tomorrow. Either web address will take you to the same page by tomorrow to eliminate confusion from the name change.
In terms of price appreciation sinceour original release in January, this stock has really never gotten any legs. Every time the stock tried to break through $4, it always met with resistance. However, the Company is positioned for 200% to 300% growth in fiscal 2000 which starts next month, and the Company has been profitable since opening its doors four years ago.
We are bringing you this update nowbecause we believe that some imminent events may result in this stock finallyreflecting the progress that the Company is making. ClickHere if you wish to read our original profile.
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Disclaimer
The Stellarstocks.com Newsletteris an independent electronic publication committed to providing our readers with factual information on selected publicly traded companies. All companies are chosen on the basis of certain financial analysis and other pertinent criteria with a view toward maximizing the upside potential for investors while minimizing the downside risk, whenever possible. All statements and expressions are the sole opinions of the editors and are subject to change without notice. This profile is neither an offer nor solicitation to buy or sell any securities mentioned. This newsletter is owned by SSP Management, Inc, a wholly owned subsidiary of 1st Net Technologies, Inc ("1st Net"). While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein. The editor, members of the editor's family, and/or entities with which they are affiliated, may own stock in and have other financial dealings with the companies who appear in the publication. To that degree, this newsletter should not be regarded to be an independent publication. SSP Management, the parent company of the Stellarstocks Newsletter, has been paid a fee of $50,000 in cash, and 50,000 shares of restricted stock as compensation for representing Mirage Holdings for a period of one year. The Stellarstocks.com critiques may contain forward looking statements relating to the expected capabilities of the companies mentioned herein.
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T A P has received 30K shares of NTWK (formerly MGHI) from Clearweather Investments Ltd. for services provided for a period of 6 months For a complete write-up on other Turn Around Picks go to T A P profile for url. |
