Two months ago, NWOL traded up to 3.90 when our shares were frozen. That's eleven times the current pps and a drop of 91%. The price of 3.90 was quite reasonable for a company with net income of $6M in 2007 and about 10M shares issued and outstanding.
I think we all know what it will take to get back to that level, so the question is what is the timeline? Mayshev said audited financials will be out very soon, but that could not be for fiscal 2007; it must be revised numbers for fiscal 2006 and maybe the first six months of fiscal 2007.
I had asked Malyshev how a stock dividend or forward split would compensate shareholders for their losses, and I am hardly convinced by his response about future value. We would be happier to see the SNGF deal completed which would help push our pps into the AMEX requirement range.
Maybe Maly Claus will have some good news for us as we begin the New Year.
BTW, if anyone thinks it would be worthwhile to get information about the New York City office of NWOL, I work near City Hall and would be willing to make a trip over to Madison Avenue. I wouldn't expect to find much of anything going on yet, but I could at least take a look and report back to you.
All the best,
Lochan
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