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Good, That's about what I was thinking. May go down to $1.63 to 1.65 for a quick 5 minute drop, but I do not think it will stay there long.
This 8K pretty much put a base on it at $1.65 unless they really mess things upsomehow. I think any shareholder will be happy to get it at the price they have agreed to allow funds to get it at.
On the other hand, it could act as a cap at $1.65 if they do not continue to show growing revenues and potential for earnings to be positive very soon.
I think it holds the 1.70ish area
Yeah, that is what I was thinking. I like that they included numbers for once. How low do you think it will go before its start back up, now that we have this new tidbit of news to counter the 8K?
May lessen the blow:
8:30AM Netsol signs new LeaseSoft contract with value in excess of $1 mln (NTWK) 1.78 : Co announced that its Asia Pacific division has signed a contract for the license of LeaseSoft, the Company's flagship vehicle portfolio management system; the aggregate value of the contract is in excess of $1 mln. The software was licensed by the Hong Kong vehicle finance operations of a major blue-chip European automotive manufacturer.
Sure does. MORE dilution.
This is why this company will never appreciate like the company over in Pakistan has appreciated. They leave its shares alone like the golden calf, but rape and pillage our equity every chance they get. And we used to own 100% of it.
I think they sold it off so that they could have their REAL baby protected by using the US investors monies for all their funding and letting the baby just grow until they remove us altogether a few years down the line.
well, looks like we will stay in this price range for a while with this over our heads:
Form 8-K for NETSOL TECHNOLOGIES INC
10-Jul-2007
Unregistered Sale of Equity Securities
Item 3.02 Unregistered Sale of Equity Securities.
On June 29, 2007, NetSol Technologies, Inc. entered into an agreement to sell a total of 606,061 shares of common stock and 303,030 warrants to acquire shares of common stock to The Tail Wind Fund Ltd., a non-U.S. resident investor, and 151,515 shares of NetSol common stock of and 75,756 warrants to acquire shares of NetSol common stock to Solomon Strategic Holdings, Inc., a non-U.S. resident investor, for the total offering price of $1,250,000 with a per share price of $1.65. The warrants are exercisable for a period of 5 years from the earlier of June 29, 2008 and the registration of the common stock underlying the warrants and have a current exercise price of $1.65 per share.
Webcast Alert: Technology On-line Forum (NetSol Technologies Inc.)
Monday July 9, 9:15 am ET
CALABASAS, Calif.--(BUSINESS WIRE)--NetSol Technologies Inc. (NASDAQ: NTWK - News) announces the following Webcast:
What: Technology On-line Forum
When: July 10, 2007 @ 10:00 AM Eastern
Where: http://www.investorcalendar.com/ClientPage.asp?ID=118165
How: Live over the Internet -- Simply log on to the web at the address above.
Contact: Christopher Chu, (646) 284-9426, cchu@hfgcg.com
If you are unable to participate during the live webcast, the call will be available for replay at http://www.investorcalendar.com/ClientPage.asp?ID=118165 or http://www.investorcalendar.com/
Contact:
For NetSol Technologies Inc. Webcast
Christopher Chu, 646-284-9426
cchu@hfgcg.com
--------------------------------------------------------------------------------
Source: NetSol Technologies Inc.
Really!! Thanks for your input. I was staring to think that we were on our way to at least $2.00 and then it would be a struggle to get over $2.05, but if we break that, well we might get a nice strong breakout of the inverted H&S. I'll be watching closely to see if it gets over the next resistance points around 1.69 and 1.77. Might decide to do a trade for more shares if I see what you are saying starting to happen.
Again, thanks for the input.
Also, I'm sorry but I should have stated that I see that inverted H&S on the WEEKLY chart, not the monthly. And I am using the bottom of $1.27 (hit the second week of Jan) rather than 1.32.
Thanks for the chart read. I see one more downtrend before the next leg up. Getting overbought here, so I'm expecting another dip to 1.50ish at least
NTWK is in an inverted Head and Shoulders pattern on the monthly charts, so a very positive end result once the breakout occurs. I believe that the right shoulder is in the middle of forming and it will probably be completed very shortly. It looks to me that we have a bit of a descending neckline and that the neckline at this point in time would be at about $2.03. If we break through that price on higher than normal volume, I think we may be well on our way to about $2.79 (using the bottom of the head to be at $1.32, and the breakout of the neck at $2.03). That may be a tad aggressive and I would play it a bit on the conservative side to those numbers. I would be watching my daily charts for a sell signal after the breakout rather than just setting a sell at $2.79. I would rather leave a bit on the table and conserve my capital than to play it out all the way.
How's that sound to other posters here?
good news has been coming out lately....any predictions on the S/P in the coming weeks?
I'm sitting at $1.43. May move that around a bit depending on how the chart plays out.
I agree- short term, looks like a sell. I'll be looking for it to form a double bottom around $1.50ish for another buy signal
Hey Klaazzz, I cannot guess a figure either.
I would hope it was around $2MM, but who knows?
Nice to see you joining in with our discussion over here on IHUB. Continue the input and we might get this thing going a bit more from time to time.
I just posted my thoughts on the chart over on the Yahoo MB if you want to take a peek and give a countering or concurring opinion.
Hey Tim,
Sorry, it took so long to respond but I have a WHOLE LOT going on these days. Yes, I saw that N. American contract and thought it was just what we were all waiting for, but I did notice it had NO NUMBERS. That has been one of my complaints for over four years - they rarely put numbers in their PRs and we cannot see the effect on the bottom line until we see a 10Q or 10K, so everybody just waits until those are to be released before they are willing to take a gamble on this dog. Then, when the Q or K is released, we also see how bad the dilution has been which dampens the positive effects of the contracts won in the last quarter - its just a see-sawing motion going on for years and years.
So, yes, I would agree with you that such behaviour relegates this to a fluff PR, even though it has some of the most positive news us US invested shareholders could want - just not enough meat.
Great to see you over on the Yahoo message board - please continue to pipe in over there.
Nope, cant even guesss it....
Damnnnn
Yu correct, without any figures, this is a fluff pr.
When they should mention a 1-2-or 3M$-contract, we should have skyrocketed....
GOOD LUCK
K.
down on low volume. Nothing to worry about, imo.
I wanted to see the dollar amount this contract generated though. Without that- just a fluff PR. Do you know how much revenue the TEX contract will produce for NTWK?
Mixed feelings here.....
Got a GREAT PR but we go DOWN?????
I sure hope OUR DAY WILL COME!!!!!!!
Greetzzz
K.
OK- We are starting to show the McQue benefits:
Netsol Technologies' LeasePak 6.0 Enterprise Edition Selected by Terex Corporation
Thursday June 21, 8:30 am ET
Leading North American Manufacturer Selects NetSol Lease Accounting and Portfolio Management System for Managing Worldwide Capital Equipment Portfolio
CALABASAS, CA--(MARKET WIRE)--Jun 21, 2007 -- NetSol Technologies, Inc. ("NetSol") (NasdaqCM:NTWK - News), a multinational provider of enterprise software and IT services to the financial services industry, today announced that its North American division signed an agreement with Terex Financial Services, the financing arm of Terex Corporation (NYSE:TEX - News) to license NetSol McCue's LeasePak 6.0 Enterprise Edition.
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Terex, headquartered in North America, is a major diversified global manufacturer and distributor of capital equipment with 2006 net sales of approximately $7.6 billion. The customer markets more than 50 diverse and well-respected brands covering a broad range of equipment for the construction, infrastructure, quarrying, recycling, mining, shipping, transportation, refining, utility, and maintenance industries.
LeasePak currently supports customers with equipment finance portfolios in 17 countries across Europe and Asia as well as 9 currencies. The customer cited LeasePak's robust ability to handle current U.S. business requirements and the scalability in managing a diverse global equipment finance portfolio as the primary reasons for selecting LeasePak 6.0 Enterprise Edition.
Jeff Rentsch, Director of Technology for Terex Financial Services, commented, "Our goal is to efficiently conduct a high volume of business while allowing for a customer experience that is both personal and differentiated. Our strategy is to surround the best people with great technology, enabling them to serve our customers in a uniquely responsive manner. We were attracted to LeasePak's proven track record and flexible architecture, allowing us to deliver a broad range of targeted acquisition solutions."
LeasePak is an end-to-end, asset finance accounting and portfolio management system that offers lessors the flexibility they need to streamline their operations across the full asset finance lifecycle. The product accurately tracks leases, loans and equipment from origination through end-of-term and disposition. LeasePak is used by banks, leasing companies and manufacturers. The latest version, LeasePak 6.0 Enterprise Edition, offers significantly improved usability and modernization of the user interface as well as state-of-the-art tools to streamline contract originations and collections.
"We are extremely pleased that Terex Financial Services has selected LeasePak 6.0 for its equipment finance solutions needs," said Najeeb Ghauri, chairman and CEO. "We welcome Terex Financial Services into the NetSol user family."
Mr. Ghauri concluded, "NetSol McCue will be working very closely with our new customer to deliver an on-time, on-budget implementation. NetSol's CMMi Level 5 certified development team will be ready to help with any additional integration support or customized tool development that may be needed along the way."
About Terex Corporation
Terex Corporation is a diversified global manufacturer with 2006 net sales of approximately $7.6 billion. Terex operates in five business segments: Aerial Work Platforms, Construction, Cranes, Materials Processing & Mining, and Roadbuilding, Utility Products and Other. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, surface mining, shipping, transportation, refining, and utility industries. Terex offers a complete line of financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. More information on Terex can be found at www.terex.com.
About NetSol Technologies
NetSol Technologies is a multinational provider of enterprise software and IT services to the financial services industry. NetSol helps clients to identify, evaluate and implement technology solutions to meet their strategic business challenges and maximize their bottom line. By utilizing its worldwide resources, NetSol delivers high-quality, cost-effective equipment and vehicle finance portfolio management solutions. The Company also delivers managed IT services ranging from consulting and application development to systems integration and development outsourcing. NetSol's commitment to quality is demonstrated by its achievement of both ISO 9001 and SEI (Software Engineering Institute) CMMi (Capability Maturity Model) Level 5 assessment, a distinction shared by only 94 companies worldwide. The Company's clients include global automakers, financial institutions, technology companies and governmental agencies. NetSol's largest customer, DaimlerChrysler Services, ranks the Company as a preferred vendor in more than 40 countries. Headquartered in Calabasas, CA, NetSol Technologies also has operations and/or offices in London, San Francisco, Adelaide, Beijing, Lahore and Karachi, Pakistan. To learn more about NetSol Technologies, visit the Company's web site at www.netsoltek.com. Click here to join the NetSol Technologies, Inc. email distribution list: http://www.b2i.us/irpass.asp?BzID=897&to=ea&s=0.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements relating to the development of the Company's products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "believe," "expect," "anticipate," "intend," variations of such words, and similar expressions, identify forward looking statements, but their absence does not mean that the statement is not forward looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance.
Contact:
Contacts:
NetSol Technologies, Inc.
Tina Gilger
Chief Financial Officer
Tel: +1 818-222-9195, x112
Investor Relations
Christopher Chu
The Global Consulting Group
Tel: +1-646-284-9426
Email: cchu@hfgcg.com
--------------------------------------------------------------------------------
Source: NetSol Technologies
Yeah, I'd like to be able to buy some in that range. Don't know if I can make it work though, too strapped for capital to trade.
I will buy another lot if it does fall down that low again <bg>. It's good to 1.99, imo
Good job. I can't figure out what she's trying to do.
It hits a decent buy signal and drops - go figure!?!?!?
I'm almost thinking they are gonna try to drop her back to the $1.30 to $1.40 range one more time.
Someone is working hard at trading against the chart rather than with it, LOL.
Picked up a little more at 1.53 today
Yeppers, it certainly does.
I'm already in at $1.58. Got in on the down move, now waiting to turn green.
Looks like another buy signal here. I'll probably add here at 1.50ish
No, I'm sorry. Nitwit me forgot to put the link in, LOL.
I was referring to the Form 3.
Heres a copy of a message I posted on the Yahoo board, and the response I got:
Me: Did they mess up in this filing by not filling in the information, or is my computer just not bringing up the form completely?
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=4988586
Can someone fill me in on what this filing is about?
Response: form 3 is for alexander shakow. the world bank guy. newly elected board members get 6000 awarded shares. that's what this form 3 is. have a great night.
Are you reffering to the latest news? Here is the website to the company
http://www.kaupthingsingers.co.uk/premiumfinance/
And what in the world is this?
None of the information in the form itself is filled in on my computer, other than his name and that he is a director.
NetSol Technologies Develops Web Based Credit Facilities for Kaupthing Singer & Friedlander Premium Finance
Friday June 8, 8:30 am ET
CALABASAS, CA--(MARKET WIRE)--Jun 8, 2007 -- NetSol Technologies, Inc. ("NetSol") (NasdaqCM:NTWK - News), a multinational provider of enterprise software and IT services to the financial services industry, announced that NetSolCQ, part of NetSol's EMEA division, has completed a web based credit card facility for Kaupthing Singer & Friedlander Premium Finance ("KSFPF"), an existing client, which uses NetSol's bespoke contract administration system, "LeaseSoft Premium Finance." Following a detailed operations study, KSFPF commissioned NetSolCQ to develop a fully integrated credit card payment and refund facility that would function seamlessly with the customer's existing LeaseSoft Premium Finance platform.
ADVERTISEMENT
Jon Baker, Operations Manager at KSFPF, stated, "The implementation of the credit card payment facility has been an immediate success, very well received by our customers and with tangible benefits seen in our accounts and front office operations teams. This development is essential to supporting both our short and long-term business goals and is part of a defined investment strategy that builds upon our existing IT systems."
Najeeb Ghauri, NetSol Technologies chairman and CEO, commented, "We are delighted to have had the opportunity to provide further consulting services and customized solutions development for this important customer beyond their existing implementation of our core LeaseSoft offering. We have improved KSFPF's value chain by streamlining business processes and bolstering customer service capabilities through software enhancements to LeaseSoft."
About Kaupthing Singer & Friedlander Premium Finance
For more information about Kaupthing Singer & Friedlander Premium Finance, please visit the company website: www.kaupthingsingers.co.uk/premiumfinance/
About NetSol Technologies
NetSol Technologies is a multinational provider of enterprise software and IT services to the financial services industry. NetSol helps clients to identify, evaluate and implement technology solutions to meet their strategic business challenges and maximize their bottom line. By utilizing its worldwide resources, NetSol delivers high-quality, cost-effective equipment and vehicle finance portfolio management solutions. The Company also delivers managed IT services ranging from consulting and application development to systems integration and development outsourcing. NetSol's commitment to quality is demonstrated by its achievement of both ISO 9001 and SEI (Software Engineering Institute) CMMi (Capability Maturity Model) Level 5 assessment, a distinction shared by only 94 companies worldwide. The Company's clients include global automakers, financial institutions, technology companies and governmental agencies. NetSol's largest customer, DaimlerChrysler Services, ranks the Company as a preferred vendor in more than 40 countries. Headquartered in Calabasas, CA, NetSol Technologies also has operations and/or offices in London, San Francisco, Adelaide, Beijing, Lahore and Karachi, Pakistan. To learn more about NetSol Technologies, visit the Company's web site at www.netsoltek.com. Click here to join the NetSol Technologies, Inc. email distribution list: http://www.b2i.us/irpass.asp?BzID=897&to=ea&s=0.
Forward-Looking Statements
This press release may contain forward-looking statements relating to the development of the Company's products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "believe," "expect," "anticipate," "intend," variations of such words, and similar expressions, identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance.
Contact:
Contacts:
NetSol Technologies, Inc.
Tina Gilger
Chief Financial Officer
Tel: +1 818-222-9195, x112
Investor Relations
Christopher Chu
The Global Consulting Group
Tel: +1-646-284-9426
Email: cchu@hfgcg.com
--------------------------------------------------------------------------------
Source: NetSol Technologies, Inc.
Yes, that was nice news today, but again, all the money is being made in Pakistan divisions - I wish something over here made some profits so we did not only get 72% of the profits.
Does not look like the news is helping share price much, LOL.
As far as CQ:
Have you seen all of these:
http://www.monitordaily.com/Story_Page.asp?News_ID=19030&Type=TopStories
http://www.avolent.com/alliances/overview.html
http://www.netsolcq.com/press/default.htm
http://www.prweb.com/releases/2007/5/prweb527950.htm
A lot of it says the same stuff, but each has a little different information that might give you further insights. Hope this helps.
You heard anything on the McQue systems angle yet? Nice news this morning:
NetSol Technologies Awarded Software Development Contract for New e-Government Initiative at the Pakistan Ministry of Population Welfare
Thursday May 24, 8:30 am ET
Company to Develop Solutions to Manage Key Business and Day-to-Day Operations of the Ministry, Eliminating Redundancy in Collection and Compilation of Data
CALABASAS, CA--(MARKET WIRE)--May 24, 2007 -- NetSol Technologies, Inc. ("NetSol") (NasdaqCM:NTWK - News), a multinational provider of enterprise software and IT services to the financial services industry, today announced that the Federal Government of Pakistan has awarded the Company a contract for an Electronic Government Capacity Building & Office Automation Project with the Ministry of Population Welfare. The primary objective of this e-Government initiative is to eliminate redundancy in collection and compilation of data provided by districts and provincial offices to the Ministry.
ADVERTISEMENT
Terms of the contract call for NetSol to develop, implement, train and maintain customized enterprise software solutions. To this end, NetSol will create a system that records, analyzes and reports on: service performance; contraceptive logistics; program administration; and non-service delivery components. In addition, it will develop a finance and budgeting system to assist the Ministry in preparing annual operational plans. And, as with other engagements, NetSol will provide end user training and technical support to ensure quick adoption and proper usage of the new solutions.
Najeeb Ghauri, chairman and chief executive officer, stated, "NetSol is playing a major role in the e-Government initiatives in Pakistan. This contract offers NetSol another opportunity to showcase our expertise in developing Open Source, best-of-breed solutions for e-Government initiatives, as well as to demonstrate the superior assistance provided by our IT Consulting & Services Team. Upon completion, we expect this Web-enabled system to improve the levels of accessibility, convenience, trust and accountability of the Ministry of Population Welfare, thus ensuring that it functions in a timely and cost efficient manner."
About NetSol Technologies
NetSol Technologies is a multinational provider of enterprise software and IT services to the financial services industry. NetSol helps clients to identify, evaluate and implement technology solutions to meet their strategic business challenges and maximize their bottom line. By utilizing its worldwide resources, NetSol delivers high-quality, cost-effective equipment and vehicle finance portfolio management solutions. The Company also delivers managed IT services ranging from consulting and application development to systems integration and development outsourcing. NetSol's commitment to quality is demonstrated by its achievement of both ISO 9001 and SEI (Software Engineering Institute) CMMi (Capability Maturity Model) Level 5 assessment, a distinction shared by only 94 companies worldwide. The Company's clients include global automakers, financial institutions, technology companies and governmental agencies. NetSol's largest customer, DaimlerChrysler Services, ranks the Company as a preferred vendor in 40+ countries. Headquartered in Calabasas, CA, NetSol Technologies also has operations and/or offices in London, San Francisco, Adelaide, Beijing, Lahore and Karachi, Pakistan. To learn more about NetSol Technologies, visit the Company's web site at www.netsoltek.com. Click here to join the NetSol Technologies, Inc. email distribution list: http://www.b2i.us/irpass.asp?BzID=897&to=ea&s=0.
Forward-Looking Statements
This press release may contain forward-looking statements relating to the development of the Company's products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "believe," "expect," "anticipate," "intend," variations of such words, and similar expressions, identify forward looking statements, but their absence does not mean that the statement is not forward looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance.
Contact:
Contacts:
NetSol Technologies, Inc.
Tina Gilger
Chief Financial Officer
Tel: +1 818-222-9195, x112
Investor Relations
Christopher Chu
The Global Consulting Group
Tel: +1-646-284-9426
Email: cchu@hfgcg.com
--------------------------------------------------------------------------------
Source: NetSol Technologies, Inc.
I'm already in <bg>. Thanks for the signal
Time to buy is now, at least according to TA.
Remember, my buy side decisions do not have a very good track record, LOL. So you interpret this for yourself, I'm just posting what I see, to see if some day I might start getting the buy calls correct.
NetSol Technologies Forms Strategic Partnership With Field Solutions to Deliver Comprehensive, Robust Solution for the Broking Market
Friday May 11, 9:25 am ET
Alliance to Expand Marketing Channels in the Banking and Asset Finance Industry -
CALABASAS, CA--(MARKET WIRE)--May 11, 2007 -- NetSol Technologies Inc. ("NetSol") (NasdaqCM:NTWK - News), a multinational provider of enterprise software and IT services to the financial services industry, today announced that its EMEA division has signed a strategic partnership with UK-based Field Solutions, specialist providers of pricing and lease evaluation products to the Banking and Asset Finance Industry. NetSol and Field Solutions celebrated their alliance yesterday at the Field Solutions Seminar on UK Taxation, at which more than 50 representatives from leading UK financial institutions attended.
ADVERTISEMENT
Under terms of the Agreement, Field Solutions will market LeaseSoft Evolve ("Evolve"), NetSol's leasing loan administration software designed specifically for smaller finance companies involved in installment lending management to brokers who want to start or manage their own book and require a contract management system (back office). Evolve will run alongside Brokanet, Field Solutions' own quotation and proposal management system. Together Evolve and Brokanet provide a comprehensive and robust software solution to meet the needs of today's broking market.
"Field Solutions is the leading UK independent vendor of pricing and proposal capture tools for the Asset Finance industry," said Alun Booth, Managing Director of Field Solutions. "We have a customer base of over 100 leading financial institutions from the UK and Ireland, and for the last 12 months have been building a strong proposition in the Broking market."
Najeeb Ghauri, chairman and CEO of NetSol Technologies, commented, "The alliance with Field Solutions further expands NetSol's product and market reach within the asset finance software and solution market, as well as builds on the Company's successes over the past 12 months. Furthermore, this partnership adds another sales channel for our Evolve product and creates an opportunity to reach a wider market."
Gary Lowery, Commercial Director of NetSol Technologies EMEA division, added, "This partnership brings together two complementary solutions providers focused on the banking and asset finance industry. The combined solutions of Evolve and Brokanet offer a compelling and affordable proposition for the broking market. For funders, it creates an opportunity to achieve higher levels of automation between themselves and their brokers, improving success rates, volumes and turnaround."
About FIELD SOLUTIONS
Field Solutions provides calculation and proposal management software, training and consultancy services to the asset finance industry. Field Solutions has a number of product offerings; in the pricing arena Flex 4.0, Freehand, Fairdeal and Probe in addition to proposal management via BrokaNet. Field Solutions also undertakes bespoke development projects for its clients. For more information please visit the company website: www.FSLimited.com
About Brokanet
Brokanet is a powerful proposal management system, which allows the user to electronically submit proposals to funders. Brokanet incorporates a powerful pricing calculator, CRM and full M.I. reporting. Brokanet first released in 2005 is targeted at both brokers and funders who want an automated and seamless interaction for proposal management and acceptance, improving response times and business volumes. 160 broker users and 10 funders are currently benefiting from the power and ease of use of Brokanet. For more information on Brokanet, contact Steve Warbutton +44 (0) 7753 832993 SteveWarbutton@FSLimited.com
About NETSOL TECHNOLOGIES
NetSol Technologies is a multinational provider of enterprise software and IT services to the financial services industry. NetSol helps clients to identify, evaluate and implement technology solutions to meet their strategic business challenges and maximize their bottom line. By utilizing its worldwide resources, NetSol delivers high-quality, cost-effective equipment and vehicle finance portfolio management solutions. The Company also delivers managed IT services ranging from consulting and application development to systems integration and development outsourcing. NetSol's commitment to quality is demonstrated by its achievement of both ISO 9001 and SEI (Software Engineering Institute) CMMi (Capability Maturity Model) Level 5 assessment, a distinction shared by only 94 companies worldwide. The Company's clients include global automakers, financial institutions, technology companies and governmental agencies. NetSol's largest customer, DaimlerChrysler Services, ranks the Company as a preferred vendor in 40+ countries. Headquartered in Calabasas, CA, NetSol Technologies also has operations and/or offices in London, San Francisco, Adelaide, Beijing, Lahore and Karachi, Pakistan. To learn more about NetSol Technologies, visit the Company's web site at www.netsoltek.com. Click here to join the NetSol Technologies, Inc. email distribution list: http://www.b2i.us/irpass.asp?BzID=897&to=ea&s=0.
About LeaseSoft Evolve
LeaseSoft Evolve provides a robust end-to-end contract administration solution designed specifically for smaller finance companies requiring a leasing and loan administration software solution. Pre-configured to enable a swift implementation at an affordable price. Evolve allows you to create and manage your agreements through the life of the contract with minimal input, allowing staff to focus on activities adding value rather than just processing. Evolve has a single database structure, operational risk is minimised and client service levels increased in an intuitive easy to use environment.
Forward-Looking Statements
This press release may contain forward-looking statements relating to the development of the Company's products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "believe," "expect," "anticipate," "intend," variations of such words, and similar expressions, identify forward looking statements, but their absence does not mean that the statement is not forward looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance.
Contact:
Contacts:
NetSol Technologies, Inc.
Tina Gilger
Chief Financial Officer
Tel: +1 818-222-9195, x112
Investor Relations
Christopher Chu
The Global Consulting Group
Tel: +1-646-284-9426
Email: cchu@hfgcg.com
--------------------------------------------------------------------------------
Source: NetSol Technologies, Inc.
Picked some up at 1.73 <bg>.
That is what I was thinking also.
Looking at the chart, and may enter in the lower 1.70s again. The management paid over 1.90 recently, so a 20% discount on them shares <bg>.
A break below 1.70 would be a sign of weakness though, imo.
I didn't look into the earning report. But, at a glance, looks like their earning model is flawed. Still reporting a loss with 50%+ revenue gains?
I would wait to get back in until you feel they have a grip of positive cash flow and earnings. The "Guidance" did not state that.
It's at $1.70sh again.
What do you think of the earnings?
What poitives do you see, and what red flags.
I was expecting that they would at least come in with breakeven earnings, but they missed it, so I do not know what to think.
I like that they are starting to get the "In-banking" going - I've been waiting for that for YEARS!!!
Sold my position, didn't like the fact the pps didn't follow the news. Maybe I'll be back at 1.70ish again
8:34AM Netsol signs follow-on contract valued at more than $1.0 mln with major automotive finance co in China (NTWK) 1.83 : Co announces that its Asia Pacific division has signed a follow-on contract valued at more than $1.0 mln with the automotive finance division of one of the largest Japanese automakers. The customer is licensing the LeaseSoft Retail Finance System for its operations in China. In addition to the software license, the co will provide software customization, system implementation and ongoing maintenance and support services as part of the contract.
Back in with a small position, may add if the price holds next week
Perhaps the Iran tension??? That's the only reason that i could think off....
Any reason why this stock is going down even though they recently put out a very nice PR.
$2$ soon!!!
Everyone seen the last HALF hour RUN??
Nice article here
http://www.netsoltek.com/corporate/interviews_mc/The%20Friday%20Times%20(23%20feb%20-%201%20March).p...
Sold my position this morning. Chart is looking toppy, and close to my initial target price set back in November
NetSol Management Addresses Shareholder Concerns
Thursday March 15, 7:48 am ET
Eric Wolff submits: NetSol's (NasdaqCM: NTWK) CEO and CFO were in Las Vegas today to discuss their company with investors. I set up time to address some of my concerns and get more clarification around elements of my thesis. Overall, the call was mixed. Some concerns were alleviated, but I was disappointed to hear management, in my opinion, avoid several questions and revert to stock stump speeches. There is nothing that peeves me more than management who says the same canned statements every single time they talk about their business, even when asked direct, specific questions. Overall, though, I was disappointed with aspects of the call. I am still optimistic on the stock--I believe this can rise based on the story alone (apparently, people in Vegas thought so as well--the stock was up 5% in this afternoon). What follows is based on my notes, and includes my own subjective take on management's comments.
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NetSol-TiG JV
Management confirmed that they believe 100% growth next year is feasible, and that eventually a majority of TiG's $50 million dollar business should transfer to the JV. At trailing revenue estimated by the CEO at $3 million, that would give us $6 million a year from now, 3 million in profits to the JV, and $1.5 mil to NetSol. Slap a 20 P/E on that and you get everything else for free. Division has growth to 100 employees, and they expect 200 by year end. TiG saves 70% on its labor cost by outsourcing to Pakistan, and appears satisfied with the arrangement thus far. Management hopes to replicate deals like this going forward
Punjab land contract
I had trouble getting a clear picture from the CEO on his expectations here, but was optimistic on the deal. The world bank has granted $300M to Pakistan to get this done. The money, from what I can tell, is allocated and likely a lock. The main issue is how much, and how long, it will take to distribute that money, and what share NetSol will receive. I am afraid that there is a big gap between what management is expecting from this contract, and what investors have been led to believe. According to IR, and by simple math, a $300M contract over 5 years, split evenly between 2 companies would generate $150M in total revenue, or $25M in revenue in year. Apparently, this is not a given. It is unclear whether the $300M is all to be allocated for the specific contract that NetSol is bidding on, and what the timing of those payments would be. Initially, management said something along the lines of "we don't know how much it will be, whether its $10, $20, $30, or $40 million", which scared me some, as those numbers are well below my estimates and what I had been told by IR. I plan to adjust the my PV estimate for this contract, as it appears as though there are a wide range of possibilities here.
Dilution
Onto the fun stuff. This conversation was, in a word, sensitive. I asked management why they felt the need to give themselves about options equal to about 50% of the outstanding shares. On the plus side, management pointed to the fact that they have never sold a share, not even when the company was worth $1bil in the tech boom, so the risk of management exercising and selling is somewhat limited (in other words, they actually appear to want to hold onto the shares long-term). Management also apparently used to own 70% of the company, so I view this large options grants potentially as a way they think they can recoup the larger holding they believe they deserve. Understandable, but it still creates and overhang and dilutes shareholder value.
Paying shares in lieu of cash
Maybe I'm overreacting, but this is just a big red flag in my mind. If you have a CEO insisting that his shares are undervalued, then why is he giving them away in lieu of cash payments? He repeated several times that he did not expect issuance of new shares, though the 10Qs continue to show may small stock payments in lieu of cash. At one rather embarrassing point, the CFO flat out said the company, as recently as 3 months ago, issued a dividend on preferred shares in stock in lieu of cash, and confirmed that this is a choice of the company's. I do believe that the CEO thinks the shares are undervalued, and I think he is giving shares as a way to satisfy the big investors who participated in the latest offering. Again, this is not friendly to minority shareholders.
Conclusion
Though I am still disappointed in management acting against the best interest of regular Joe shareholder, I think there is enough that could go right here for me to build a small position (though not as large as I would have without the management issues). I will be looking for increased traction in the licensing business, as well as continued growth in services revenue, in the months to come.
http://biz.yahoo.com/seekingalpha/070315/29666_id.html?.v=1
An excellent, well-rounded report thet seems quite comprehensive.
I really like the information they provide and the manner in which they break it down.
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NetSol Technologies, Inc. (NTWK), a worldwide provider of global business services and enterprise application solutions, leverages its BestShoring(TM) practices and highly experienced resources to deliver high-quality, cost-effective solutions. Their suite of products and services include credit and finance portfolio management systems, hospital/healthcare information management systems (HIMS), SAP consulting and services, custom development, systems integration, and technical services.
NetSol’s commitment to quality is demonstrated by its achievement of the ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by less than 100 companies worldwide. These distinctions are a result of adhering to rigorous quality standards, resulting in the delivery of solutions that are secure, reliable, properly planned, and meticulously executed.
Serving the global financial, healthcare, insurance, energy, and technology markets, NetSol has operations, offices, and joint ventures in Adelaide, Bangkok, Beijing, Lahore, London, Riyadh, San Francisco, and San Pedro Sula. NetSol Technologies' clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies.
Netsol is well positioned with its core product offerings as it continues to expand into new international market opportunities. Looking forward, the company is very optimistic of its short-term and long-term outlook as it sees strong growth in Asia Pacific as well as the South East Asian markets, while also envisioning unlimited potential for its niche solutions and services in the Americas.
Most Recent News: http://finance.yahoo.com/q/h?s=NTWK
Webcasts - Conference Calls: http://www.b2i.us/profiles/investor/fullpage.asp?f=1&BzID=897&to=cp&Nav=0&LangID=1&s=0&ID=1332
SEC Filings: http://www.b2i.us/profiles/investor/seclink.asp?BzID=897
IR Contact:
Christopher Chu | |
Grayling | |
cchu@hfgcg.com | |
Phone: | (646) 284-9426 |
Fax: | (646) 284-9494 |
Najeeb Ghauri
Chairman and Chief Executive Officer
Najeeb Ghauri is Chairman of the Board of Directors and CEO of NetSol Technologies, Inc., a worldwide provider of business solutions and enterprise application solutions. In the early years of the Company, Mr. Ghauri was responsible for restructuring the company's business model into that of an IT company and was instrumental in the completion of the NetSol Technologies IPO in 1998. He also spearheaded the successful listing of NetSol (NTWK) on the Nasdaq Capital Market (formerly known as Nasdaq Small Cap) in December 1999. At the time of its IPO, NetSol was the first IT company originated from Pakistan to be listed on Nasdaq. NetSol grew from just five people to almost 1000 in 2009 and grew from $100K revenue in 1998 to $37MN in 2008. Today, NetSol has nearly 200 customers worldwide and offices in 6 countries.
Mr. Ghauri was influential in listing NetSol's Pakistani subsidiary on the Karachi Stock Exchange (KSE). In addition, Mr. Ghauri helped establish the first US Company listed on both Nasdaq Capital Market (NASDAQ CM:NTWK) and Dubai stock exchange (NASDAQ DUBAI:NTWK).
On September 13, 2006 and again in June 25, 2008, Mr. Ghauri represented NetSol Technologies as he presided over the closing bell for the Nasdaq Exchange in New York City. He has been twice nominated in the United States for the Ernst & Young ‘Entrepreneur of the Year', once in 2001 and again in 2008.
Prior to launching NetSol in the U.S., Mr. Ghauri had over 15 years of combined marketing and management experience with Fortune 500 companies such as Unilever and Atlantic Richfield Corporation (ARCO). He received his bachelor's degree from Eastern Illinois University and earned an MBA in marketing from the Drucker School of Management at the Claremont Graduate School.
Mr. Ghauri is also active in various charitable and educational non-governmental organizations (NGOs) worldwide. He is a founding board member of the Pakistan Human Development Fund, which provides educational tools to children in underdeveloped areas of Pakistan. He is also a founding board member and Vice-Chairman of the U.S. Pakistan Business Council in Washington, D.C., a U.S. Chamber of Commerce body and the leading private sector association in the United States promoting trade and investment between the United States and Pakistan.
Boo-Ali Siddiqui
Chief Financial Officer
As Chief Financial Office and Company Secretary of NetSol Technologies Ltd., Mr. Siddiqui has managed the finances of all companies in the Asia group since 2005. Previous to this he served as Deputy Registrar of Companies for the Securities & Exchange Commission of Pakistan (SECP) and as Senior Manager, Audit and Tax, for Ehtisham & Co., Chartered Accountants.
Mr. Siddiqui holds a Bachelor of Commerce from Hailey College of Commerce, Lahore, University of The Punjab, Pakistan, is a Fellow Member of both the Institute of Chartered Secretaries & Managers (FICS) and the Pakistan Institute of Public Finance Accountants (FPA), and is an Associate Member of the Institute of Chartered Accountants of Pakistan (ACA).
Patti L. W. McGlasson
Company Secretary and Corporate Counsel
Patti L. W. McGlasson joined NetSol as Corporate Counsel in January 2004 and was elected to the position of Secretary in March 2004. Prior to joining NetSol, Ms. McGlasson practiced law at Vogt & Resnick, where she focused on corporate, securities and business transactions. Ms. McGlasson was admitted to practice in California in 1991. She received her BA in Political Science in 1987 from the University of California, San Diego and her JD and LLM in Transnational Business from the University of the Pacific, McGeorge School of Law, in 1991 and 1993, respectively.
Salim Ghauri
President, Netsol Technologies Asia Pacific Region
Salim Ghauri is the President Netsol Technologies Inc. Asia Pacific Region and founder of former named Network Solutions, Ltd. Lahore, Pakistan, a wholly-owned subsidiary of NetSol Technologies, Inc.
Before establishing NetSol Technologies, Mr. Ghauri was a successful IT consultant in Australia. His last assignment was with BHP Steel in Sydney. As a system integrator he was responsible for software and hardware solutions. His main achievement was the introduction of a PC-based network in BHP Steel. From 1988-89, Mr. Ghauri consulted with the State Rail Authority of NSW Australia for its MIS reporting.
Prior to moving to Australia, he was in Saudi Arabia, where he started his IT career at Citibank, Riyadh in 1979. After leaving Citibank, he started his first venture. Mr. Ghauri is credited with setting up the first IT-based training institute and a software house in Damam, Saudi Arabia.
Mr. Ghauri received his BS degree in Computers from the University of Punjab in Lahore.
Naeem Ghauri
President and Head Of Global Sales
As Head of Global Sales for NetSol Technologies, Mr. Ghauri is responsible for all Business Development, M&A, Account Management and Sales activities worldwide. Prior to heading the global sales organization, Naeem served as President of Netsol Technologies Inc. European Region and Global Products. Naeem Ghauri brings a wealth of IT experience in the leasing and finance industries and tremendous business management experience in international markets.
From 1994-1999, he was a senior IT consultant with various blue-chip companies in Europe. At Debis, he managed the Hercules Project, a complex and challenging project valued in excess of $70 million. It involved supervising over 200 project managers, developers, analysts and users in nine European countries.
Prior to taking on the Hercules Project, Mr. Ghauri was a senior project manager in Singapore with Mercedes. From 1983-1995, he held various assignments in Australia and the United Kingdom with Citibank and Fidelity Investments, respectively, in data processing departments. He also ran several successful business ventures in retail computers and in the real estate industry in Australia.
Imran Haider
Chief Operational Officer, NetSol Technologies North America
Imran Haider is a seasoned IT professional with proven expertise in Sales and Information Technology Management. He has been working with NetSol Technologies since 2002 and has played a vital role in the company's success in Asia Pacific region. Before joining NetSol Technologies, Imran had worked with Sayyed Engineers and Interactive Communications in roles related to system implementation, market research, and sales.
Mr. Haider is highly qualified in disciplines of Sales, Marketing, Finance and Information Technology. He completed his MBA in 1999, with focus on Marketing and Finance, from the prestigious Lahore University of Management Sciences (LUMS) Pakistan. Later he returned to LUMS and augmented his qualification with a certification in IT Management. Imran also holds a Master's Degree in Economics from University of the Punjab, Pakistan.
Prab Brinton
Vice President, Human Resources and Operations
Prab Brinton serves as Vice President of Human Resources and Operations for NetSol Technologies North America. With over 15 years of experience in Human Resources and Operations in the Technology and Financial sectors, Ms. Brinton brings a diverse level of experience to her position. Ms. Brinton's prior work experience has included Oracle, Etec Systems, First Franklin Financial, and FKI Logistex. Ms. Brinton attended San Francisco University with a concentration in the field of Human Resources.
Mike Miller
Vice President, Partner Services
Mike Miller serves as Vice President of Partner Services as part of NetSol's Global Sales organization. With his many years of experience in commercial equipment leasing, banking, systems, project management, operations, and training, Mr. Miller brings an extraordinary level of experience to his position. Mr. Miller has worked with many of the premier leasing firms in North America in his 30-plus years of experience in the fields of business operations and information technology.
His depth of experience in the world of financial services is exceeded only by the extraordinary versatility he brings to his position at NetSol Technologies North America. Mr. Miller has earned a reputation as an invaluable and committed business partner to NetSol customers.
Malea Farsai
Corporate Counsel
Malea Farsai is Corporate Counsel for NetSoI Technologies, Inc. Prior to joining the company, Ms. Farsai represented NetSol in a private law firm practice, which focused primarily on corporate, securities, intellectual property and general transactional matters. Ms. Farsai was admitted to practice in California in 1996. She received her BA in Political Science in 1992 from University of California, Irvine and her JD in 1996.
Sajjad Kirmani
Executive Vice President IT/Operations, NetSol Technologies, Ltd.
Sajjad Kirmani is the Executive Vice President and the Director for NetSol Technologies Limited. He has been associated with NetSol since May 1998. As EVP IT & Operations, he manages the operation of the company across the broad spectrum of IT products and services portfolio as well as supporting functions of human resource management, network operations and quality engineering.
Mr. Kirmani has over 22 years of professional IT experience in software development, project management and Information Systems management. Prior to joining NetSol, Mr. Kirmani worked for Coca-Cola Corporation for 6 years as Information Services Manager for their South West Asia Region spreading across 5 countries in Asia Pacific.
Mr. Kirmani holds a Master's degree in Computer Sciences from University of London with specialization in Database Management & Information Systems, along with a Master of Business Administration (MBA) degree from IBA, University of the Punjab. He is the Executive Council member of Computer Society of Pakistan Lahore Chapter and was the Vice president of Pakistan Software Houses Association (PASHA) from 2003-2004.
Shaz Khan
Senior Vice President, SAP Sales and Solutions
Shaz Khan is Senior Vice President, SAP Sales and Solutions at NetSol Technologies. He has been actively implementing SAP solutions for over 12 years with a specific focus in SAP supply chain and procurement applications, including Supplier Relationship Management (SRM), MDM, and Materials Management/Production Planning. Shaz oversees all SAP practice areas and service offerings under NetSol Technologies, including SRM, SCM, MDM and Interactive Forms, Portal, and Business Objects. He combines his extensive experience in Information Technology, Project Management, Business Process Modeling, and SAP Supply Chain consulting to lead consulting teams to deliver high-value and results-oriented SAP solutions for Fortune 1000 clients.
He began his career as a Senior Information Technology Consultant with Ernst & Young and has managed and implemented SAP supply chain, strategic sourcing and procurement, and business process reengineering projects for numerous clients in the Media, Entertainment, Chemical, Oil, and Financial Services Industries. Shaz is a certified SAP Materials Management and SAP SRM consultant and an accomplished author of two SAP configuration guides, SAP SRM Extended Classic Cookbook and SRM Advanced CCM Cookbook. Shaz received his B.A. in Computer Science and a B.A. in Economics from the University of California at Berkeley.
Mark Pellas, PMP
Senior Vice President, SAP Consulting Services
Mark Pellas is Senior Vice President, SAP Consulting Services at NetSol Technologies. Mark is responsible for managing the consulting personnel, providing tools and procedures required to support the sale and delivery of SAP solutions, and for providing guidance on project timelines and resource planning for all engagements. In addition, Mark oversees all SAP alliance partnerships and joint marketing programs for NetSol Technologies.
He has been working with SAP in various positions since 1991 and received his first exposure to SAP as an ABAP developer in R/2. He worked for SAP Australia as a Client Engagement Manager and Lead Technical Consultant managing projects for large local clients before moving to the United States in 1995. Mark brings considerable project management experience and a strong understanding of the development and project implementation methodologies instituted at Big 4 implementation partners. Mark has consulted for major Fortune 500 clients including Pacific Gas and Electric, Eveready Batteries, Caltex Petroleum, Browning Ferris Industries, LTV Steel, General Motors, Delphi Automotive, TiVo Inc, Deluxe Checks Inc, NBC Universal, Clark County, Nevada and SAP. Mark is a PMP certified professional and received his Bachelor of Applied Science from University of Tasmania and a Bachelor of Education from Tasmanian State Institute of Technology.
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