Any small cap Net Nets out there?

[wachtwoord]

Did you click on the word "Investors" because that will bring to their IR site with all usual the financial information/links?

 

http://investor.steelexcel.com/phoenix.zhtml?c=97782&p=irol-irhome

 

Lol, the menu name is is clickable as well. Great UI ;). Thanks!

[bbarberayr]

Cheapest stock I've found is SORL auto parts - symbol - SORL

 

Consistently profitable, growing business.

 

$34 million market cap

-$32 million EV as cash- debt is $66 million more than market cap

p/e of 3.0, fwd p/e = 2.5

 

Bad thing is no dividend and, while management says they are concerned about the stock price, they don't really do anything.

 

Had a lowball offer to see a few months ago, but that came off the table.

 

Would suspect some rich Chinese investors will buy on the cheap in US and relist in China for good profits, but who knows if/when.

[wachtwoord]

Cheapest stock I've found is SORL auto parts - symbol - SORL

 

Consistently profitable, growing business.

 

$34 million market cap

-$32 million EV as cash- debt is $66 million more than market cap

p/e of 3.0, fwd p/e = 2.5

 

Bad thing is no dividend and, while management says they are concerned about the stock price, they don't really do anything.

 

Had a lowball offer to see a few months ago, but that came off the table.

 

Would suspect some rich Chinese investors will buy on the cheap in US and relist in China for good profits, but who knows if/when.

 

It's Chinese though so how reliable are the numbers?

[bbarberayr]

That is of course one of the reasons it is so cheap!

 

I'm pretty sure they are legit, or at least the business is real (unlike Sino Forest) - a few years ago, one of the major brokerage firms went for a site visit and came back with a positive report.  Plus, they do their US reporting and hold conference calls, so don't look to be hiding anything.

 

But, there are China risks, so would keep it a small position, but it is so cheap, something good is bound to happen if you are patient.

[LowIQinvestor]

SXCL shareholder letter is out:

 

http://investor.steelexcel.com/phoenix.zhtml?c=97782&p=irol-secText&TEXT=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9maWxpbmcueG1sP2lwYWdlPTEwODMzNTkzJkRTRVE9MiZTRVE9JlNRREVTQz1TRUNUSU9OX0VYSElCSVQmZXhwPSZzdWJzaWQ9NTc%3d

 

"At December 31, 2015, the Company had cash and marketable securities totaling $127.9 million, and an NOL of $139.1 million."

 

Does anyone know if Fairfax still owns some of SXCL? Or was it Steel Partners?

[LowIQinvestor]

SXCL being acquired for 55% premium, $17.80/share

 

Steel Partners currently owns approximately 64% of Steel Excel’s outstanding shares. Under the agreement, Steel Partners, through a wholly owned subsidiary, will commence an exchange offer to acquire all of the outstanding shares of Steel Excel’s common stock (not owned by Steel Partners or any of its affiliated entities) for $17.80 per share

 

Steel Partners Signs Definitive Agreement To Acquire Remaining Shares of Steel Excel

 

http://finance.yahoo.com/news/steel-partners-signs-definitive-agreement-211500223.html

[philippoc93]

It hasn't moved? :o

[gg]

It hasn't moved? :o

 

....for $17.80 per share in preferred units of Steel Partners

[philippoc93]

It hasn't moved? :o

 

....for $17.80 per share in preferred units of Steel Partners

 

aha - thank you sir

[LowIQinvestor]

Yes, the preferred units carry a 6% coupon