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	<title>Greenbackd &#187; Network Engines Inc (NASDAQ:NENG)</title>
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		<title>Greenbackd &#187; Network Engines Inc (NASDAQ:NENG)</title>
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		<title>Greenbackd Portfolio Q2 Performance and Update</title>
		<link>http://greenbackd.com/2009/06/01/greenbackd-portfolio-q2-performance-and-update/</link>
		<comments>http://greenbackd.com/2009/06/01/greenbackd-portfolio-q2-performance-and-update/#comments</comments>
		<pubDate>Mon, 01 Jun 2009 06:16:39 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
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		<guid isPermaLink="false">http://greenbackd.com/?p=1930</guid>
		<description><![CDATA[Update June 16, 2009: SOAP has announced that it proposes to liquidate. See our post below. Update June 3, 2009: We&#8217;ve pinned this post to the front page. Any new posts between now and July 4th will appear below this post. &#8212; June 1, 2009 marked the end of Greenbackd’s second quarter. It&#8217;s time again [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=1930&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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			<media:title type="html">Greenbackd Portfolio Performance 2009 Q2</media:title>
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		<item>
		<title>Network Engines Inc (NASDAQ:NENG) position exited for 47.4% gain</title>
		<link>http://greenbackd.com/2009/03/27/network-engines-inc-nasdaqneng-position-exited-for-47-4-gain/</link>
		<comments>http://greenbackd.com/2009/03/27/network-engines-inc-nasdaqneng-position-exited-for-47-4-gain/#comments</comments>
		<pubDate>Fri, 27 Mar 2009 05:15:20 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Net Net Stocks]]></category>
		<category><![CDATA[Network Engines Inc (NASDAQ:NENG)]]></category>
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		<category><![CDATA[Trinad Management]]></category>
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		<guid isPermaLink="false">http://greenbackd.com/?p=1525</guid>
		<description><![CDATA[We&#8217;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&#8217;re up 47.4% in about two-and-a-half months on an absolute basis, which is a pleasing outcome. The S&#38;P500 Index was trading at 870.26 when we [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=1525&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>NENG reinstitutes stock buyback</title>
		<link>http://greenbackd.com/2009/03/18/neng-reinstitutes-stock-buyback/</link>
		<comments>http://greenbackd.com/2009/03/18/neng-reinstitutes-stock-buyback/#comments</comments>
		<pubDate>Wed, 18 Mar 2009 05:01:06 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Network Engines Inc (NASDAQ:NENG)]]></category>
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		<guid isPermaLink="false">http://greenbackd.com/?p=1399</guid>
		<description><![CDATA[Network Engines Inc (NASDAQ:NENG) has announced that it is reinstating its stock repurchase program. We&#8217;ve been following NENG (see post archive here) since January 13 when it was trading at $0.38, which gave it a market capitalization of just $16.5M. The stock is up 10.5% since our initial post to $0.42, giving it a market [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=1399&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Greenbackd Portfolio Q1 performance and update</title>
		<link>http://greenbackd.com/2009/03/02/greenbackd-portfolio-q1-performance-and-update/</link>
		<comments>http://greenbackd.com/2009/03/02/greenbackd-portfolio-q1-performance-and-update/#comments</comments>
		<pubDate>Mon, 02 Mar 2009 05:00:57 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
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		<guid isPermaLink="false">http://greenbackd.com/?p=1158</guid>
		<description><![CDATA[March 1, 2009 marked the end of Greenbackd&#8217;s first quarter, so we thought we&#8217;d take the opportunity to update you on the performance of the Greenbackd Portfolio and the positions in the portfolio, discuss some changes in our valuation methodology since our first post and outline the future direction of Greenbackd.com. First quarter performance of [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=1158&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>10</slash:comments>
	
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			<media:title type="html">greenbackd-portfolio-performance-2009-q13</media:title>
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		<title>Network Engines Inc (NASDAQ:NENG) December 10Q</title>
		<link>http://greenbackd.com/2009/02/19/network-engines-inc-nasdaqneng-december-10q/</link>
		<comments>http://greenbackd.com/2009/02/19/network-engines-inc-nasdaqneng-december-10q/#comments</comments>
		<pubDate>Thu, 19 Feb 2009 05:08:32 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Net Net Stocks]]></category>
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		<category><![CDATA[Network Engines Inc (NASDAQ:NENG)]]></category>
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		<guid isPermaLink="false">http://greenbackd.com/?p=1038</guid>
		<description><![CDATA[Network Engines Inc (NASDAQ:NENG) has released its results for the quarter to December 31, 2008. We&#8217;ve adjusted our valuation down 7% from $25.5m or $0.59 per share to $23.8M or $0.55 per share. With the stock price at $0.51, we&#8217;re going to maintain our position for now, but we&#8217;re mindful that NENG is a perennial [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=1038&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<media:content url="http://greenbackd.files.wordpress.com/2009/02/neng-summary-q4.png" medium="image">
			<media:title type="html">neng-summary-q4</media:title>
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		<item>
		<title>Network Engines Inc (NASDAQ:NENG)</title>
		<link>http://greenbackd.com/2009/01/13/network-engines-inc-nasdaqneng/</link>
		<comments>http://greenbackd.com/2009/01/13/network-engines-inc-nasdaqneng/#comments</comments>
		<pubDate>Tue, 13 Jan 2009 05:18:30 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Net Net Stocks]]></category>
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		<category><![CDATA[Network Engines Inc (NASDAQ:NENG)]]></category>
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		<guid isPermaLink="false">http://greenbackd.com/?p=658</guid>
		<description><![CDATA[Network Engines Inc (NASDAQ:NENG) is a perennial inclusion on lists of net net stocks and so it should come as no surprise to see it back in net net land. In November 2007, an activist investor, Trinad Management, pushed the company to &#8220;immediately [implement] a share buy-back program.&#8221; The company demurred and has now seen [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=658&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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