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estrongus

11/24/05 11:03 PM

#8762 RE: jamstah #8761

You got that right! :-)
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snow

11/25/05 11:11 AM

#8765 RE: jamstah #8761

Book value

Total Stockholders' Equity/(Deficit) 2,077,286 --
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The above was at the end of the financial year. If book value is significantly higher now the reason has the be that the sharecount has increased to substantially more than 10 million for NAUG and 30 million for NWAU. Most of the book value is now accounts receivable or goodwill. Both of those are vulnerable to downward revisions.

Since book value is about 50% of the stock price the downside is not all that limited, espeically if the poor owners of the cars who are fleeced as far as interest rate goes fail to honor their obligations and this leads to losses for NWAU.