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CLRS Message Board

  • tex7779 tex7779 May 10, 2004 9:34 PM Flag

    Hey Streeeter:

    Just checking. Did you go short today on CLRS.

    You should have had plenty of opportunities to do so today. Plenty of volume and a price pushing the 52-week and for that matter for the three year high.

    Are you sure you want to take on Kanders.

    Tex

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    • I have seen 5, 12,144,12, 3, now 12 again. It will be interesting to see if there is a merger/aquisition where the stock price will end up. I would think higher than it is now.

    • Clearly a logical thinker.

      Tex

    • Tex

      Have you looked at NETP- the shell that Kanders recently took control of? What do you think about another Clarus in the works? Less cash (14 million) but NOL of about 115 million. Priced under 1.00 per share. Looks attractive to me. What do you think.

      • 2 Replies to ici359
      • Yes, I have looked at NETP. It does have a lot of similarities to our CLRS. As you stated there does not seem to be much of a business at NETP.

        There is NO DEBT, just a little cash, about $ 14 million and as you stated $ 115 million in NOLs.

        Yes, I absolutely believe that NETP is another CLRS in the works. But on its own and just like our CLRS, it has some deferred revenues to clear out and quite likely some existing business office leases, though I don't know those specifics. Having said all that, one would have to ask though what would Kanders do with NETP ? They are loosing money, just like CLRS, and with only $ 14 million, they could burn through that in no time. But I am sure Kanders is quite aware of it.

        The main difference between CLRS and NETP is that CLRS is almost at a breakeven point and still with a good chunck of cash, that can be used to buy out other businesses.

        Conceptually, however, I can see that since Kanders now controls both CLRS and NETP, he could combine or merge the two, plus buy or merge with a " real " business, one that actually produces some type of product or service. In that fashion, Kanders will have almost $ 240 million of NOLs. All of this is, however, pure speculation on my part because I cannot see NETP buying out anyone, which to my knowledge is a requirement for any business with NOLs to be able to use them. For instance, if someone were to buy NETP ( though I cannot see why ) then such a transaction will void the NOLs.

        Regardless, I see NETP a good long term play as I am convinced that Kanders will create a turnaround just as he did at Benson eyecare, Armor Holding, and now Clarus.

        Besides, with NETP at less than a buck, how much can you loose ? Just do not expect to make a quick buck out of it, unless of course NETP becomes part of Kanders' play with CLRS.

        Anyway, all JMHO.

        Tex

      • It is all the way to the top. shortseller get out of it while you can or lose it all

    • Have not yet, been waiting for a couple of down days to be honest;its been maintaining a slow , upward grind since we started talking. I'd like to see it sit still or fall back a couple of sessions. I like the fact that its been bumping up against its 52 week high but not going higher, think it shows there's few people, even with the higher volume, that are ready to jump in at the high...
      Also been reading up a bit on Kanders and the NETP deal as well...
      I wonder how many Co's will allow themselves to be milked by this guy as a shell, or for that matter, how long the Nasdaq will allow these "savings accounts" to be publicly traded as equities...
      Does he have a success story in his past where he has taken a Clarus and actually sold it or merged for the good of the shareholders? If not, this seems like way too much blind faith...

      Thoughts?