Calton, Inc. (CN) | Stock Discussion Forums

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Microcap & Penny Stocks
Calton, Inc. (CN)

An SI Board Since August 1999

Posts	SubjectMarks	Bans	Symbol
67	2	0	CTON

Emcee: Glenn Petersen	Type: Unmoderated

Introduction Market Data Compact

On December 31, 1998, Calton, Inc. completed the sale of its primary operating subsidiary, Centex Real Estate Corporation, for $48.1 MM. At the time of the sale, the company announced that it would analyze potential business opportunities and, if it had not deployed a substantial portion of the proceeds from the sale of Centex within an 18 month period, that the company would be liquidated and the proceeds distributed to its shareholders. It also announced its intention to repurchase as many as 10.0 MM of its common shares in open market and privately negotiated transactions by the end of its current fiscal year which ends November 30, 1999.

As of June 30, 1999, the company has repurchased 5,807,000 of its common shares for an aggregate purchase price of $7,460,000.

In February 1999, Anthony Caldarone, the CEO of CN, acquired 866,000 common shares in a private transaction.

As of June 30, 1999, the company had cash and marketable securities totaling $34.455 MM, or $1.59 per share. If you adjust for the potential dilution from outstanding options, the cash per share works out to $1.51. Friday's closing price was 1 3/8.

While the company indicated in its Form 10-K that it was looking at some opportunities in the home building industry, it added two new directors this spring, both of whom have backgrounds in the information technology and Internet arenas.

On July 28, 1999, the company filed a Form 8-K announcing the acquisition of iAW, Inc., an entity owned by one of its new directors. iAW, Inc. is "...an Internet business solution provider established in 1995 that assists companies in defining an effective Internet business strategy and implementing applications. iAW, which is an early stage development company, also provides video conference services." The purchase price was $250,000 plus options to acquire 1.8 MM shares of common stock at $1.63 per share.

For the year ending December 31, 1998, iAW, Inc. had sales of $218,000 and net income of $44,000. For the six months ending June 30, 1999, iAW, Inc. had sales of $368,000 and net income of $91,000. CN has agreed to commit $2.0 MM to the development of iAW, Inc.

Form 10-K for the year ending November 30, 1998
sec.gov

Proxy materials
sec.gov

Form 10-Q for the six months ending May 31, 1999
sec.gov

Go to reply# or date (mm/dd/yy):

Reply	Message Preview	From	Recs	Posted
67	The Calton shell (which terminated its registration statement in the fall of 200	Glenn Petersen	-	2/2/2012
66	yea even the sun sometime shines on an old bag's @ss LOL	stock leader	-	7/24/2002
65	Glenn..You were right on the money(within cents). Congrats! I sold 1/2 of my pos	KINGTUNA	-	7/7/2001
64	Message 15881088 <i>My guess is that the stock trades at a 50% discount t	Glenn Petersen	-	7/6/2001
63	Glenn,Go figure I expected to see massive selling today since yesterday was the	KINGTUNA	-	6/21/2001
62	The distribution is a return of capital, so there is no gain when the dividend i	ValueCat	-	6/3/2001
61	FWIW Calderone is screwing over the shareholders again. We now have an ORDINARY	hcm1943	-	6/1/2001
60	I think your right on the money Glenn Thanks	KINGTUNA	-	6/1/2001
59	When I started this thread almost two years ago, the price was 1 3/8. That work	Glenn Petersen	-	6/1/2001
58	Glenn..with the current price and with the $5.00 dividend, doesn't that put	KINGTUNA	-	6/1/2001
57	Great news. It will be interesting to see how the market values the remainder o	Glenn Petersen	-	6/1/2001
56	CN..news.. $5.00 cash dividend payable July 5 2001 to holders of record June 20	KINGTUNA	-	6/1/2001
55	All I can say is I think that POS Calderone has some set of brass balls. With al	hcm1943	-	5/15/2001
54	A comment from Calderone: Equilink Will Offer to Purchase Calton for $24.2 Mln	Glenn Petersen	-	5/15/2001
53	then it's obvious that CN board of directors will impliment all defenses. G	stock leader	-	5/14/2001
52	sec.gov "In February 1999, the Company's Board of Directors adopted a	Glenn Petersen	-	5/14/2001
51	What is CN's poison pill..? insiders officers own well less than 50% of shar	stock leader	-	5/14/2001
50	at least someone is putting the screws to that Scum-bag, Calderone. This company	hcm1943	-	5/13/2001
49	Calderone will reject the offer. Some of the conditions will be unacceptable to	Glenn Petersen	-	5/13/2001
48	Glenn, what do you think of the 13D filing and the Tender Offer? Chalu	chalu2	-	5/12/2001
47	the only votes AGAINST THE RES will be his	hcm1943	-	5/11/2001
46	I would certainly vote for this resolution. Unfortunately, the Calderones own 1	Glenn Petersen	-	5/11/2001
45	finally, someone getting in Calderones face, 05/11 8:18A (DJ) +DJ Investor Don	hcm1943	-	5/11/2001
44	While this article is interesting, CN is probably dead money at this point: the	Glenn Petersen	-	11/11/2000
43	Insiders have bought 21,950 shares since the beginning of July. An amended S-1	Glenn Petersen	-	8/26/2000

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