AS IRON SHARPENS IRON

[RandyKCMO]

Hey Guys..both a friend and the Cheap Investor has recommended NCNC. New Century Companies. I thought we could maybe take a look at this one together and see if we can come to concensus.

I'll take a first stab:

Revenues growing nicely over the last three years:
2005 $6 Million
2006 $8.3 Million
2007 $10 Million

Unfortunately, the net income has not done so good.
2005 $512K
2006($849K)
2007 ($3,411K)

Cash is marginal and debt is $1.73 Million. (supposedly reset in favorable terms as of July)

Share has a high of 60 cents and a low of 6 cents in the last 52 weeks.

1. SHARE STRUCTURE ----------------------------10
2. TRADING EXCHANGE-----------------------------8
3. INSIDER ACTIVITY/OWNERSHIP---------------8
4. DEBT STRUCTURE/DILUTION/CASH FLOW--4
5. REVENUE GENERATION-------------------------6
6. PROMOTION---------------------------------------10
7. GROWTH POTENTIAL-----------------------------5
8. MANAGEMENT SKILL/HISTORY-----------------7
9. MACRO-ECONOMIC SENSE---------------------5
10. TRADING VOLUME/RANGE---------------------8

Total -----------------------------------------------------71 Barely worth watching.

Again, this is a pretty cursery evaluation. Also, it seems to me that one of the press releases said something about last Q's revenue was down because the way a couple projects finished up.

Also, this is not to say it won't trade higher....just the result of passing it through the grid we've adopted.

I will past this evaluation grid into the IBOX so if any of the rest of you would like to take a crack at it...you won't have to worry about formating it.

Randy













The Light has come into the world, but men have preferred darkness. If you want to know the Truth, just ask. :)

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