Ashraf Eassa
Long/short equity, contrarian, independent research, tech

Xumanii Now Next To Worthless, Investors Should Continue To Avoid It

On July 23, 2013, I published, "A $180 Million Company Worth Less Than $0: Short Xumanii". In the note, I presented my research on the name, and emphatically urged investors to sell and/or short shares of Xumanii (XUII.OB), as the company showed no evidence that it was anything more than a stock scam. When my article was published, the stock traded at about $0.70, but after less than a month, shares now trade at a mere $0.0575/share, representing a 91% decline. It is my view that shares should continue to be avoided at all costs as they remain substantially overvalued at a market capitalization of $23M, and that in due time the shares will trade within a...

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