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Since we last published this list in June, we are happy to see a few new names. Happy if only because the world of net/nets is typically very static, and it's nice to have some new blood from time to time. Still, we are not seeing many "quality" names, as convoluted as that may sound for an investment technique (companies trading below their net current asset value) bound to identify troubled companies.

Here they are, in order of market cap:

1. Audiovoxx (NASDAQ:VOXX)
2. InFocus Corp. (INFS)
3. Harbor Acquisition Corp. (HAC)
4. Lazare Kaplan Intl. (LKI)
5. Selectica Inc. (NASDAQ:SLTC)
6. CallWave Inc. (NASDAQ:CALL)
7. Orthologic Corp. (OLGC)
8. Remec Inc. (OTC:REMC)
9. Inhibitex Inc. (NASDAQ:INHX)
10. Intrabiotics Pharmaceuticals (IBPI)

(Companies in bold are new since our last list.)

Still slim pickings, we know. Not one of the bunch is currently profitable on a trailing 12 month basis. All but Lazare Kaplan (which we own) are awash in cash relative to market cap.

There appear to be some interesting names further down the list, but all are tiny: in the $10-$35 million market cap range. We'll save that for another day.

Disclosure: The author has a position in LKI.

Source: Top 10 Net/Nets By Market Cap: An Updated List