John DiStanislao

Ideal Market Environment for Clarus Corporation

Hi ebschor

What got me seriously interested in CLRS.PK at this time was the first conference call the other day. He said the call would never occur until a combination took place. But Warren Kanders did sound optimistic in this environment. He discussed many scenarios for a successful combination.

CLRS has a 70 million market cap supported mostly by cash and an average volume of 37,000. Investors that have an interest must wait for a potential combination and the ultimate success of the new firm. I believe Kanders will pull this off and now is the right time as he spoke about this issue for 2009.My intention is to wait at least one year.

Kanders has been aligning his interests with the shareholders.

From 8/5/2008 to 12/30/2008 Warren Kanders purchased 1,001,027 shares in the open market for an average price of $4.46 investing $4,467,208.

Additional shares were purchased before 8/05/08

CLARUS CORP --- Insider Trades

Insider Date Trans Type Form Shares Traded Price Shares Held
KANDERS WARREN B 12/30/2008 B Form 4 300,000 3.75 3,213,977
KANDERS WARREN B 11/26/2008 B Form 4 125,000 4.2 2,913,977
KANDERS WARREN B 11/21/2008 B Form 4 142,027 4.2 2,788,977
KANDERS WARREN B 8/11/2008 B Form 4 309,000 5.105 2,646,950
KANDERS WARREN B 8/5/2008 B Form 4 125,000 5.146 2,337,950
KANDERS WARREN B 11/15/2007 B Form 4 58,500 6.5 2,212,950
EHRLICH BURTT R 8/22/2007 B Form 4 25,000 7 88,000



On Mar 05 08:07 PM ebschor wrote:

> Kanders has been talking about this for 7 years now. The guy took
> over a defunct software company by buying enough shares to get himself
> on the board, sold off the assets, then "moved" the shell to CT so
> he could furnish his existing company's office space, pay himself
> and his cronies from the cash, and mention every year or so that
> he's looking for investment opportunities. It is about time that
> he cr4p or get off the pot! There's also an expiration on those NOLs.
>
>
> John, I think you're writing this article hoping that you get a "pop"
> in the stock price by getting people to look at an extremely LOW
> volatility stock trading on the PINK SHEETS. Come on man, pump and
> dump somewhere else! Seeking Alpha has integrity standards!

Ideal Market Environment for Clarus Corporation

I'm not a tax accountant but KPMG LLP, an independent registered public accounting firm, has audited the consolidated financial statements.

Warren Kanders and the CFO of Clarus have done this before.

Good luck
John




On Mar 05 10:55 AM Silverfox2 wrote:

> How did Clarus preserve it's NOLs when it sold it's software business?

Undiscovered Opportunity in Clarus Corporation?

Has anyone been able to reach management?

445,027 shares were purchased after hours for 4.20? on 11/21/08

Shares Outstanding = 16,867,000
Cash + MS = 11,866,000 +74,053,000 = .7035+4.3904= 5.093

NOL = $224,774,000 or $13.326 per share expiring from 2009 to 2020

Why can’t management find a suitable investment? The current environment has many companies selling at historically low prices. Many of these companies are desperate for a low ball offer.

is this still an attractive opportunity or are we missing something

Any thoughts?