SKP Per share breakdown as of 6/30/04...
Cash and equ 7.54
financial instruments 50.81
Hence total liquid asset come to 58.35 per share.
The company owes no debt.
Reserves (estimated loss)is 63.08, of which 18.7 is recoverable from other insurers giving a net of 44.4. Reinsurance commitment will consume another 8.1
*****Net liquid assets thus comes to 58.35-44.4-8.1= $5.85 PER SHARE*****
Other less liquid assets are real estate 1.1, accrued income .7 Tax benefits (deferred tax assets) 4.9, and brick and mortar carried at historical costs.
One has to bear in mind that there is no interest charge on reserves. You get to enjoy the float.
I haven't followed this NLS stinker for a while but I see that it is back to pumping its old tricks again. Maybe they can sucker investors up to 43 again. Does anyone remember how much this POS plummeted in a day? Was it as much as $10 in a day or did it drop by 3 - 5 per day for a week or so? Watch out for this company of exercise gadget selling bull
Nah. Since you're new to the board, I can see how the enormous traffic here may intimidate you. But never fear, you will soon develop a knack for "sifting" through 2-3 off-topic posts per week.
I agree about keeping this board on topic which I understand to be issues surrounding NLS.
Surely the "off topic" stuff can be handled elsewhere alleviating the need, for the rest of us, to have to sift through unwanted information.
Thanks for the co-operation.
I'm always open to a good enough deal. But could you give me some numbers on why this one is cheap? What are cash and security holdings less all liabilities, per share? It would really help.