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With tangible book of 1.57 and the Icahn-card it wouldn't take much to pop this laggard. With only 26M O/S, a very doable quarterly income of $2.6M would give this a $.10 eps. And to add to the already low risk here - these properties are paid for with no interest payments, only taxes.
The recent Q-filing finally detailed the 12 owned properties. The zillow links are below. C'mon Icahn - work your magic?
http://www.zillow.com/homedetails/3506-Main-Lodge-Dr-Coconut-Grove-FL-33133/43862130_zpid/
http://www.zillow.com/homedetails/3437-N-Moorings-Way-Miami-FL-33133/43863645_zpid/
http://www.zillow.com/homedetails/18970-N-Bay-Rd-Sunny-Isles-Beach-FL-33160/44379801_zpid/
http://www.zillow.com/homedetails/1420-Biscaya-Dr-Surfside-FL-33154/44014261_zpid/
http://www.zillow.com/homedetails/1211-Stillwater-Dr-Miami-Beach-FL-33141/43877456_zpid/
http://www.zillow.com/homedetails/1211-Stillwater-Dr-Miami-Beach-FL-33141/43877456_zpid/
http://www.zillow.com/homedetails/11400-N-Bayshore-Dr-North-Miami-FL-33181/2139246599_zpid/
https://www.coldwellbankerhomes.com/fl/north-miami/11404-n-bayshore-dr/pid_1894823/
http://www.zillow.com/homedetails/2535-Shelter-Ave-Miami-Beach-FL-33140/43894763_zpid/
http://www.zillow.com/homedetails/700-88th-St-Surfside-FL-33154/44015003_zpid/
http://www.zillow.com/homedetails/2555-Shelter-Ave-Miami-Beach-FL-33140/43894764_zpid/
http://www.zillow.com/homedetails/241-Atlantic-Isle-Sunny-Isles-Beach-FL-33160/44385957_zpid/
If this property doesn't sell maybe an Airbnb listing could generate some revenue...complimentary stay for shareholders of course!
Anyone want to ask Mr. Icahn?
Lol.
Good to know we have a good roofer. Out of all seriousness, let's hope we start heading north.
zillow shows it as listed again. Got the leak fixed?
I think it's pretty common to add, remove, add, remove these listings when they are not selling. The date of removal was exactly 3 months to the day since the listing was added, which could indicate a pre-planned "We will leave it up for 3 months and then take it down for awhile."
3437 Moorings Way listing has been removed. Anyone care to guess as to why?
04/23/16 Listing removed $3,950,000
http://www.zillow.com/homedetails/3437-N-Moorings-Way-Miami-FL-33133/43863645_zpid/
Thanks for the links.
Let's hope one sells close to asking and kdus should finally begin to move.
The homes at 3506 Main Lodge Drive and 3437 Moorings Way are currently listed for sale
http://www.zillow.com/homedetails/3506-Main-Lodge-Dr-Coconut-Grove-FL-33133/43862130_zpid/
http://www.zillow.com/homedetails/3437-N-Moorings-Way-Miami-FL-33133/43863645_zpid/
Zillow shows these two were last purchased each for around $2.2M. Now listed for sale @ $4M and $5M. Figuring in a high side estimate of $500K each for renovations puts an estimated total cost of $5.5M with asking price of $9M.
KDUS needs a top realestate salesman and we plebeshareholders need some pr updates?
Thanks for supporting here!
I remain bullish and continue to hold.
Adding a few back here in the low $1's. Q-1 report due 5/15 which should provide more updates if they don't sneak in some updates prior to?
Interesting insight. Thanks for the info. At this point any action would be welcomed.
First time they've detailed the individual properties. Maybe they will turn up the volume with some activity updates?
I googled each property listing with special interest in the two below. Both asking well above the KDUS buy price. Were they to sell both at list price, the earnings could be in the $1M - $2M range?
The homes at 3506 Main Lodge Drive and 3437 Moorings Way are currently listed for sale
Risk/Reward here still very solid with pps at $1 with $1.50 in tangible book and minimal burn.
One thing about it... can't be dilution or some other "penny scam" play cause you need volume of which this is had none for what, over a year now? Doesn't mean we couldn't lose 100% just saying that MMs can do whatever they with manipulation BUT if there is no volume, what does it accomplish?
As to your second question, "At some point Icahn will seek strong positives...he is majority owner, won't he?"
That's what all of us here are counting on- hope springs eternal
mmCDEL continues pounding the ask downward as if it were mmVNDM pounding on some heavy dilution penny scam?
Have a lower bid in and waiting for the 10K report due 3/31. At some point Icahn will seek strong positives in a issue he is majority owner, won't he?
Below a buck now.
A few weeks ago, mmCDEL posted up a 100K sell @ 1.20 at which time I sold some 1.15's (at a loss) looking to rebuy cheaper assuming that seller needed some crackmoney in a bad way?
Chart shows approx. 100k sell volume in the past one month's time frame but who really knows just how much crackmoney our incessant seller needs?
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=kdus&insttype=&freq=1&show=&time=4
KDUS is the only stock I see trading at 2/3rds tangible book with the Icahn brand on it.
Decent volume but we need this bad boy heading north not south. Let's see where Cadus ends up today.
seems good, lets hope there is some money involved in the sale lol
8-K filing...
Item 1.01 Entry into a Material Definitive Agreement.
On February 10, 2016, a wholly-owned indirect subsidiary of Cadus Corporation, MB 2013, LLC, entered into a Vacant Land Listing Agreement (the “Agreement”) with Bayswater Brokerage Florida LLC (“Bayswater”). The Agreement gives Bayswater the right to sell certain properties of MB 2013 LLC for a broker’s fee through December 31, 2016. The broker’s fee is due upon a sale of the properties whether the buyer is secured by MB 2013 LLC, Bayswater or any other person. At MB 2013 LLC’s request, Bayswater may agree to terminate the Agreement for a cancellation fee that is mutually agreeable unless otherwise waived by Bayswater. A copy of the Agreement is filed as Exhibit 10.14 to this Current Report on Form 8-K.
Carl C. Icahn, indirectly the controlling shareholder of Cadus Corporation, is also indirectly the principal shareholder of Bayswater; Jack Wasserman, a director and the lead independent director of Cadus Corporation is a director of Bayswater’s indirect parent; and Hunter C. Gary, a director and the President and Chief Executive Officer of Cadus Corporation, is a Senior Vice President of Bayswater’s indirect parent and Vice President, Secretary and Treasurer of Bayswater. Pursuant to an agreement between Cadus Corporation and Barberry Corp., an entity controlled by Carl C. Icahn that is a significant shareholder of Cadus Corporation, to the extent Bayswater receives any compensation for brokerage services, Barberry Corp. will make capital contributions to Cadus Corporation for the full amount of any such compensation received by Bayswater and Barberry Corp. will not be issued stock of Cadus Corporation or any other consideration in connection with any such capital contributions.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
Exhibit No. Description
10.14 Vacant Land Listing Agreement, dated February 10, 2016, between MB 2013 LLC and Bayswater Brokerage Florida LLC.
http://www.sec.gov/Archives/edgar/data/911148/000114420416081411/v431222_8k.htm
Maybe this is Icahn's loss-producing vehicle for his portfolio.
Problem is its not looking attractive to people or it would be bought up. The company needs a pr once in awhile other than the regular filings. mho.
As far as we plebes know, the excellent Balance Sheet hasn't changed - only this funked up market.
I've been watching the new website for possible construction starts on one of the 6 properties listed. An update from the company would be nice or else we wait for the 10-K filing updates?
http://caduscorp.com/portfolio/
Down again this a.m. , someone needs to remind me why this is the stock i should be holding long... sheesh
The entire market is.
This is turning into a long loser.
I don't get the bullishness here.. Icahn only owns less than 1% of this in his portfolio.. That should give you guys a pause...
The Company is currently in the process of renovating two homes for resale. The Company is also in the process of obtaining permits for the construction of homes on three of its properties.
Above from the recent Q-filing appears to be upgraded as the new website shows 6 properties ready for sale:
http://caduscorp.com/portfolio/
I really don't get this seller - seems to me 1.20 is a gimme-exit-pps for a solid year or more excluding any (act of god) devastating news.
Added a few yesterday at 1.21 and will continue adding weakness if this seller persists.
I couldn't resist, had to chip today. Once tax loss selling season wears off in a week or so, we should get a nice run up.
Hopefully they offer shareholders a discount if we buy ;)
Or rent :) if this is an option.
Cadus Announces New Corporate Web-Site
"
NEW YORK, NY--(Marketwired - Dec 9, 2015) - Cadus Corporation (OTCBB: KDUS) announced today that it has established its new corporate web-site, CadusCorp.com. The website currently permits the visitor to view the location of certain of the company's properties in Miami-Dade County, Florida, as well as proposed floorplans and artists' renderings of the exterior and interior of homes currently proposed to be constructed on those properties. Seven of the company's thirteen properties are currently featured on the site. In addition, the website contains an Investors Relations section that includes the company's recent filings with the Securities and Exchange Commission.
About Cadus
Cadus is in the business of purchasing individual homes and individual residential lots, renovating or constructing on them, and reselling them. To date, the company has focused its real estate activities in Florida.
This press release may contain forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in the company's annual report on Form 10-K for the year ended December 31, 2014. These include risks and uncertainties relating to the company's ability to acquire residential homes for renovation or reconstruction and resale and lots for building homes for sale, the company's ability to engage contractors to perform such renovation, reconstruction and construction, the company's ability to sell such renovated or reconstructed homes and new homes at a profit, regulatory requirements that could cause the company to incur significant liabilities and operating expenses and could restrict its business activities, the company's capital needs and uncertainty of future funding, and the company's history of operating losses.
Contact:
David Blitz
212-575-7800"
I continue to be patient wait and for this baby to pop. Not good at market timing but it doesn't take a brain surgeon to see value and invest with one of the best investors of our time, mr Carl Icahn.
I am going to get comfy and get ready for a snooze. Wake me up when it happens...
Icahn pennystock-triplet ENZN popped today on declaring a .25 cash dividend. So Icahn does pay attention to his lesser holdings (I was wondering). When will his tiresome silence end with KDUS?
VLTC 5.10 - falling from the Oort Cloud back into the Stratosphere. KDUS has the same owner, same business plan, and a pristine Balance Sheet in comparison to VLTC's busted negative equity?
Guess the real question is at what pps and not if but when KDUS passes VLTC?
lol everyone thinking the same thing. but it closed hod so its all good.
it hit in one big bite at 9750 with 1 smaller at 50 and 2 100's at 1.30, the bid for 9750 was just sitting there ready to catch the trade, and yeah it looks like posturing for position to me also,
Not a person on this board could drop 10K shares and get the same price at the Bid. MM did a deal for someone. Trade that size had help. Even possible it was a buy at the bid. I wasn't watching my T&S screen so I don't know how it flashed when it crossed.
Ok, what gives? This thing moves 2% on a fart- so how the he!! does someone dump 9750 shares at the Bid and not move the needle? Somebody getting favorable treatment...
Invest With Carl Icahn And Earn An 8% Yield
November 25, 2015, 02:41:08 PM EDT By StreetAuthority
When Carl Icahn speaks, people listen.
In March, the legendary investor disclosed that he had bought a 52% ownership stake in a small digital marketing firm called Voltari (Nasdaq: VLTC) to his legion of 250,000 Twitter followers. One month later, the stock had already surged more than 800%....
When Icahn invests in a company, he doesn't sit and wait for a catalyst to boost the share price. He creates his own. That could mean persuading a company to undertake bold strategic initiatives, or even restructure entirely. It may seem cruel to unseat managers or replace board members, but sometimes that's what it takes to produce results and get a stock moving forward.
These opportunities aren't growing thin. In fact, Icahn believes that he has "never seen a time for activism better than it is today."
http://www.nasdaq.com/article/invest-with-carl-icahn-and-earn-a-8-yield-cm547298
Trend reversal? Is the trend your friend? Some so bored they will seek exit with every bit of strength, I guess, but as long as this trades below tangible book I say don't worry, be happy?
KDUS nice move, ya'd have to be crazy to short a 8 m float....
I've been waiting for a report like this, it seems all Ichans stock are shorted hugely before he drops great news that makes them sky rocket. Maybe we will see that here... $10. would be nice huh?
The move is coming on KDUS, higher high and higher low
VLTC 9.05 - 'streetsweeper' shorts. KDUS has the same owner, same business plan, and a pristine Balance Sheet in comparison to VLTC's busted negative equity? Unreal, VLTC shareholders right now could swap for KDUS shares at 7-to-1 clip.
Voltari Corporation Alert: Buyer Beware
by Sonya Colberg, Senior Editor - 11/24/2015 3:47:48 PM
Ridiculous: Voltari enters real estate biz, stock rockets over 100%. Growth? No! With only $2.5m cash, they need raise. BUYER BEWARE! We’re short.
Here’s what the company states: In addition to our entry into the real estate investment business as described above, the Company intends to explore additional strategic opportunities from time to time, which may include opportunities with respect to its intellectual property, investments in various industries or acquisitions.
August 2015, Voltari Corporation (“we", “us”, “Voltari” or the “Company”) committed to and began implementing a transformation plan pursuant to which, among other things, we exited our mobile marketing and advertising business and entered into the business of acquiring, financing and leasing commercial real estate properties. The Company intends to lease such properties pursuant to so-called “double net” or “triple net” leases.
Investors must watch out for this stock. Voltari needs cash and will likely take advantage of this run-up to issue stock. Dilution appears imminent. Don’t get stuck holding de-valued shares.
* Important Disclosure: The owners of TheStreetSweeper hold a short position in VLTC and stand to profit on any future declines in the stock price.
* Editor's Note: As a matter of policy, TheStreetSweeper prohibits members of its editorial team from taking financial positions in the companies that they cover. To contact Sonya Colberg, the author of this story, please send an email to scolberg@thestreetsweeper.org.
http://www.thestreetsweeper.org/article.html?c=3&i=22222
VLTC 5.93 up 2.43 - going goofy again while KDUS with the same owner & same business is on everyone's ignore? Stop the madness
After tax loss selling season is over, expect a nice lift off into the new year. 1.50 anyone?
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Cadus Corp. 767 Fifth Avenue New York, NY 10153
| Carl Icahn has upped its stake Cadus Corporation (OTCBB:KDUS), a new filing with the U.S. Securities and Exchange Commission showed. Mr. Icahn own 17.82 million shares of Cadus Corporation (OTCBB:KDUS), equal to 67.81% of common stock shares outstanding. The new position is up from 5.26 million shares the fund held previously.
image: http://cdn2.insidermonkey.com/blog/wp-content/uploads/2013/08/Carl-Icahn-sitting-on-money-450x600.jpg
According to the filing, Mr. Icahn acquired an aggregate of 12.56 million shares at $1.53 per share upon exercise of the basic subscription rights and oversubscription rights in the rights offering conducted by the company. In a Form 8-K filed June 6, Cadus Corporation (OTCBB:KDUS) reported the results of its rights offering. Pursuant to the rights offering, subscription rights to purchase 13.14 million shares of the company’s common stock were exercised, resulting in gross proceeds of about $20.1 million. Cadus Corporation (OTCBB:KDUS) is engaged in the business of purchasing individual homes and individual residential lots, renovating or constructing on them, and reselling them. Read more at http://www.insidermonkey.com/blog/billionaire-carl-icahn-boosts-stake-in-cadus-corporation-kdus-to-over-60-322114/#m8Dqf1O85BjEkYER.99 |
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