The writer of the aforementioned report should have worked for free. It is a sloppy report. The Weighted Average Cost of Capital calculation is incorrect because the writers assumptions are wildly specious.
Also, using the Wilshire Micro-Cap ETF (WMCR) as a benchmark is a joke. The writer states: "After a quick check, the company’s weekly returns are
significantly correlated to Wilshire Micro-Cap ETF (WMCR)." In fact, after an elementary check, WMCR and NXGH have practically no correlation.
In addition, the section under the "Valuation" heading was cut and pasted straight from Investopedia. And I highly doubt the writer has any clue as to the meaning of "Intrinsic Value".
It is as if the writer, to justify the fee and stock issuance, typed up a report which is, on the surface impressive, by the use of financial jargon. Yet if someone with half a brain and an extensive financial background digs deeper they will realize the report and the writer are full of bull.
Tell Arik to get his money and shares back.
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