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Archive for the ‘Net Net Stocks’ Category

Forward Industries Inc (NASDAQ:FORD) Q2 update

Posted in Forward Industries Inc (NASDAQ:FORD), Net Cash Stocks, Net Net Stocks, Stocks, tagged , , on August 7, 2009 | Leave a Comment »

Forward Industries Inc (NASDAQ:FORD) has filed its quarterly report for the period ended June 30, 2009. We started following FORD (see our post archive here) because it was trading at a discount to its net cash and liquidation values, although there was no obvious catalyst. Management appeared to be considering a “strategic transaction” of some [...]

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VaxGen Inc (OTC:VXGN) Q2 update

Posted in Activist Investors, Net Cash Stocks, Net Net Stocks, Stocks, VaxGen Inc (OTC:VXGN), tagged , , , , on August 4, 2009 | 13 Comments »

VaxGen Inc (OTC:VXGN) has released its quarterly report for the period ended June 30, 2009. We’ve been following VXGN (see our post archive here) because it is trading at a substantial discount to its net cash position, has ended its cash-burning product development activities and is “seeking to maximize the value of its remaining assets [...]

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Valuing the SOAP stub

Posted in Activist Investors, Mithras Capital, Net Cash Stocks, Net Net Stocks, Soapstone Networks Inc (NASDAQ:SOAP), Stocks, tagged , , , , on August 3, 2009 | 3 Comments »

Soapstone Networks Inc (NASDAQ:SOAP) closed Friday at $0.495 following the payment last week of a $57.5M or $3.75 per share special dividend. The company estimates the final distribution at between $0.25 and $0.75 per share. The higher end of the distribution range represents a ~50% upside from Friday’s close, so we’re going to do some [...]

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Autobytel Inc (NASDAQ:ABTL) Q2 update; Greenbackd exits

Posted in Activist Investors, Autobytel (NASDAQ:ABTL), Net Net Stocks, Stocks, Trilogy, tagged , on July 29, 2009 | 2 Comments »

Autobytel Inc (NASDAQ:ABTL) has filed its 10Q for the quarter ended June 30, 2009. We last estimated ABTL’s liquidation value at $24.3M or $0.54 per share. Following our review of the 10Q, we’ve reduced our estimate to$21.8M or $0.48 per share. The stock closed yesterday at $0.48, which means it’s trading at our estimate of [...]

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Digirad Corporation (NASDAQ:DRAD) Q2 update

Posted in Digirad Corporation (NASDAQ:DRAD), Greenbackd Portfolio, Net Net Stocks, Stocks, tagged , on July 24, 2009 | 3 Comments »

Digirad Corporation (NASDAQ:DRAD) has filed its 10Q for the quarter ended June 30, 2009. We started following DRAD (see our post archive here) because it was an undervalued asset play with a plan to sell assets and buy back its stock. The stock is up more than 118% since we started following it to close [...]

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MATH announces merger; CEO resigns in protest; Greenbackd exits

Posted in Activist Investors, MathStar Inc (OTC:MATH), Net Cash Stocks, Net Net Stocks, S. Muoio & Co, Salvatore Muoio, Stocks, Zachary McAdoo, tagged , , , on July 16, 2009 | 4 Comments »

MathStar Inc’s (OTC:MATH) board has announced a “possible merger” with a company called Sajan, Inc, presumably the private company discussed in the presentation at the annual meeting. Douglas M. Pihl, MATH’s CEO, has resigned in protest, saying in his resignation letter that he was resigning because of the board’s “rejection of the plan I have [...]

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Lloyd I Miller III discloses DITC holding; Supports Lamassu Holdings’ candidates

Posted in Activist Investors, Ditech Networks Inc (NASDAQ:DITC), Greenbackd Portfolio, Lamassu Holdings LLC, Lloyd I. Miller III, Net Cash Stocks, Net Net Stocks, Stocks, tagged , , , , on July 10, 2009 | Leave a Comment »

Lloyd I Miller III has disclosed a 5.9% holding in Ditech Networks Inc (NASDAQ:DITC). According to the 13D filing, Mr. Miller supports Mr. Leehealey and Mr. Sansone – the director candidates nominated by Lamassu Holdings for election to the board of directors at the DITC annual meeting – as “candidates who are independent of management and [...]

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Audiovox Corporation (NASDAQ:VOXX) 10K update; Greenbackd exits

Posted in Activist Investors, Audiovox Corporation (NASDAQ:VOXX), Howson Tattersall, Net Net Stocks, Stocks, tagged , , , on May 19, 2009 | Leave a Comment »

Audiovox Corporation (NASDAQ:VOXX) has filed its 10K for the fiscal year ended February 28, 2009. The stock has risen strongly over recent weeks to close yesterday at $5.93, which gives VOXX a market capitalization of $135.6M. We’ve had an opportunity to review the 10K, and we’ve now slightly reduced our estimate of VOXX’s liquidation value [...]

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Soapstone Networks Inc (NASDAQ:SOAP) Q1 update

Posted in Activist Investors, Mithras Capital, Net Net Stocks, Soapstone Networks Inc (NASDAQ:SOAP), Stocks, tagged , , , , on May 1, 2009 | 2 Comments »

Soapstone Networks Inc (NASDAQ:SOAP) has filed its 10Q for the quarter ended March 31, 2009. We been following SOAP (see our post archive here) because it is trading well below its net cash value with an activist investor, Mithras Capital, disclosing an 8.7% holding in October last year. The stock is up 48.0% from $2.50 [...]

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Network Engines Inc (NASDAQ:NENG) position exited for 47.4% gain

Posted in Activist Investors, Net Net Stocks, Network Engines Inc (NASDAQ:NENG), Stocks, Trinad Management, tagged , , , on March 27, 2009 | Leave a Comment »

We’ve decided to exit our position in Network Engines Inc (NASDAQ:NENG) at its $0.56 close yesterday. We opened the position on January 13, 2009 when it was trading at $0.38, so we’re up 47.4% in about two-and-a-half months on an absolute basis, which is a pleasing outcome. The S&P500 Index was trading at 870.26 when we [...]

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