The good news is he has lost nearly $710,000 since the high of $6.50. He has some skin in the game. Sometimes wonder why he does this stupid #$%$ when he owns so many shares.
Exercised options @ $3.88 p/s. 19,329 shares. Things like this are what drive me over the edge. I'm not opposed to executive perks when they've earned it. Najeeb, you are robbing the company of its shares and cash and investors see it. All the announcements in the world cannot make up for your stupidity. This is my opinion.
Is a huge market and it appears Netsol has made a name for themselves their. On another note. In 2008, Pakistan was dropped from an emerging market to frontier market, due to the KSE shutting down for awhile. They are now back on the list to be reviewed for an up grade back to the emerging market status that will most likely occur some time in 2016. How might this effect us? A greater number of investors will return to investing in Pakistan such as mutual funds etc. NetsolPK is listed on the KSE stock exchange and we own 65% of that subsidiary. This would greatly enhance the value of Netsol the parent company. It may also attract a few buyers. Thinking outside the box.
Tesla, Volvo, #$%$ Zheng, 16 million contract, 25 million in the works, expansion in Germany and UK, 1500 resources, investor conference, 300 implementations, new product and the list goes on and on. So far, at 11:25am 2716 shares traded. What's wrong? I wonder if it could be investors have no confidence in the Stooges or perhaps it could be the losses for the past two or perhaps it could be the incentive packages. Wonder why the value of the company isn't increasing?
Drive the price. The company lost money in 14, 15, and will have a tough time making it into the plus column in 16. Had the salaries and bonus's not jumped nearly 5 million (the lions share went to the Stooges) the task of showing a profit of course would've been reachable. It shows new investors the management team doesn't have a clue on how to manage their check book and all they think about is themselves.. Proof was 2013 when they were showing a profit the share price jumped to 14/share. Yell at me all you want to but investors look at profits not losses. This is not a new start-up company they've been in business 17 years and had losses nearly 16 of the those years. In 2012 they did a reverse to stay listed. Had their numbers been better the Tesla announcement would've increased the value substantially. Clearly, the company developed a good product however, now they need to focus on a management team that can take the company to the next level. The Stooges are not prepared nor qualified to take on the task.
Well said. Likewise, the only two beefs I have with the company are the Ghauri's (compensation) and the independent BOD's. I'm not quite sure the independent directors would even pass the independent litmus test. Their often seen in pictures alone at the headquarters and that raises my concerns.
I think the sell-off is related to another software company in Pakistan also claiming to be the number 1 IT company (aXact) scandal, reported by the New York Times, alleging the company sold fake deplomas. It has tainted the IT industry in Pakistan. Hence, our drop in value. Just an opinion.
Najeeb would cleanse them if he stepped down. Yes, I am long this stock and last week purchased another 4,800 shares @ $6.20 and I will make money. My goal is to get the BOD's to appoint another CEO, and if so, the stock will double in value, albeit, if it isn't another Ghauri. My guess on the price action today was another IT company in Pakistan got slammed by the NYT's alleging the company is selling fake diplomas. The companies name is Axact and the story is most likely true. Cattone, worry more about what the company says and less what the board says. But then I guess you would have nothing to worry about.
Najeeb Ghauri 2014 $1,365,402... 2013 $468,891
Boo-Ali Siddiqui 2014 $270,000...2013 $99,250
Patti McGlasson 2014 $368,020...2013 $179,797
Now that's what I call reinvesting back into the company. $1,255,484 additional compensation. This does not include everyone else. Information from 10-K. Tell me which one adds value to the company.
Although reading the 10K took my anxiety to a new level, Mr. Almonds reporting totally regained my confidence in the numbers the company now provides. He is a man of achieved integrity and in my opinion is at the top and is a very key asset to the company. He will play a prominent row in the turn around. Najeeb, he was a great choice.
In 2014 paid a cash dividend of $743,363, and declared a 10% dividend and issued 2,416,000 shares of stock and received $356,029 for stock options. Several questions: 1. Who declared the dividends. 2. Did NTWK NA receive 65% of the $743,363 and 10%. If so, who received the other 35%. The companies policy (Greater Fool Theory) is to not distribute dividends and reinvest in the company. Why is there a dividend paid in PK and not NA? Why did Salim Ghauri choose not remain on the NA board. (His nephew took his place). I can almost assure you the majority of the huge Salary & Consultants increase went to a hand full of people. Sadly, growth and income funds cannot buy Netsols stock because it doesn't offer a dividend. Larger players can spot this.