NWLI reports most of their investments at amortized cost, whereas most other financials, including MET, reports assets at fair value. Both are proper, as NWLI indicates they plan to hold most of their assets to maturity, whereas MET categorizes their assets as 'Available For Sale (AFS). AFS assets are reported at fair value.
MET is selling according to Barrons at 1.1X book value. Keep in mind that MET uses Fair Value accounting and IIRC, most of their assets are AFS. Hence, comparing NWLI at 60% of Book (240/400) is not comparing apples to apples. Guessing that fair value of NWLI equity is closer to $500 per share (wait for 10K).
This is a bulletin board to share info. I am new to this specific board, and am researching the company. I have been on yahoo finance bbs for many years. I am merely asking for members of this boardl to point out a thesis of being long MJNA. You are bashing, not me. I have done DD, and am asking for discussion, as to that is what the boards are for.
Basher in disguise? You have commented as such on my other posts here. Seems to be your M.O. Yet, you don't answer the question. Look at my history, I am a long time poster on yahoo, with a fairly decent reputation.
420Investor: “Claims this is the largest grower in Israel. They also state that as of today no clients have been announced.” Claims they are an Israeli technology company, focusing on cannabis.
“On each of November 10, 2013 and December 31, 2013, Mr. Itschak Shrem purchased 1,000,000 restricted shares of common stock of BreedIT Corp, f/k/a Progaming Platforms Corp. (the "Registrant") or a total of 2,000,000 shares for total consideration of $100,000 or a price of $0.05
per share. On the latter date, Mr. Shrem was appointed as Chairman of the board of directors.”
As with other Marijuana stocks, the balance sheet on this is awful. Alan Brochstein wrote on Twitter today the following:
rbco: - “Been looking at 420 companies. All bad balance sheets. Seems like rolling the dice. This includes FITX, PHOT, EDXC, BRDT + FULL.”
Alan Brochstein, CFA @Invest420 - “@rbco U sound like me a year ago! BRDT just raised capital - good balance sheet now. FULL locking in 22% IRR at 12% borrowing costs.”
rbco: “@Invest420 Where can one see BRDT balance sheet with capital raised? I see most recent as 9/30/13, Assets $20K,Liabilities $126K.”
Alan Brochstein, CFA @Invest420 - “@rbco They now have 90mm shares and warrants. The shares and warrants were at a low price but gave it some cash.”
Rbco – “@Invest420 The 8K does not discuss the balance sheet. Public filings do not support your comment of " good balance sheet now."
What is the long thesis? Any plans to becoming an SEC filer? Any discussion about replacing Anthony Imbimbo CPA with a regional or national firm to lend credibility to a public company? Very little available in researching this company.
SOURCE: Form 144
ISSUER: GROWLIFE INC
FILER: HUNT ROBERT
BROKER: TD AMERITRADE
RESTRICTED SHARES TO SELL: 1,000,000 DATE REGISTERED: 3/4/2014
APPROXIMATE DATE OF SALE: 3/20/2014
I can't link, but if you go to twitter and search 'rbco' you will find my post on 2/20, or you can go to facebook and search "redfieldblonsky" and see the same. Major discussion of MWLI took place at 14:44, and minor discussion starting at 11:00. I discussed NWLI for over 10 minutes.
Discussion took place on 4/16/13 at a price of 173. I did discuss how we had brought our position sizes down from 20ish % to 13ish %. NWLI is currently our 3rd largest position, and approximately 8% (rounded) of our entire portfolio.
Do your own DD, we have been net sellers of the stock, but only via position reducing. If we were to liquidate, which I do not anticipate, but could happen, and there certainly would be no discussion prior on this board. I have not bought any shares in quite a while. If the price dropped considerably without a corresponding decline in my NWLI perception or fundamentals, I would be a large buyer.
They reduced 27,702 shares, and as of 12/31/13 owned 79,126. If you look at their 13F, you will see they reduced essentially all of their common holdings. No link, sorry. You can search via SEC.
Still here. NWLI is our 3rd largest position. It used to be our largest position at the end of 2011 and 2012, but sold a bit to make room for some other investments. At year end 2013, it was our 2nd largest position. Yesterday it dropped to 3rd largest, as we sold a chunk to make room for a new position. I expect, but could be wrong, that this will stay a core holding for many years to come.