Bluefishdeep

Aether Holdings: Perennial Loser

So Aether became NexCen (NEXC)
So DeLoren ran it
So the stock price fell off the cliff in May '08 and has continued to plummet. Now at $.20 /share, up from $.04 /share
So the leap off the cliff was related to the CFO & CEO signing off on a lending agreement without reading the fine print wherein was a baloon payment due in Oct '08.
So they board of directors, most of them, quit.
So NEXC couldn't keep their OTC listing.
So they could not file their SEC reports on time.
So they had to restate the 2007 financial statements and have not issued them yet, and 2008 has also not been issued yet.
So now the SEC is investigating the financing of the Athelete's Foot acquisition.

So terms like moronic, stupid and incompetant all apply to the company's management, as well as to "investors" who buy into the stock.

But wait.... Some superman talked NEXC's creditors into a combination of interest rate adjustments and covenant adjustments so that the last knife has not yet been dropped. And the company's PR machine is cranking out favorable "news" at a furious clip. Do we believe the company's hype? How do we place a value on this mess? We don't and we don't. Buying into this stock now is a pure crap shoot.

Given all of the above and all of the suspected further bad news from the SEC, the stock is still being bid up. Market Cap is now at $.2 * 11,000,000 shares = $2.2 million. It was worth a 4.5 cent gamble earlier this year. It was still worth the 9 cents that I paid two months ago. So I have a few hundred bet on a target of $1.00 within a year. So that is my "flyer". Probably will loose it all. Couldn't buy a better novel to read. Drama, intrigue, suspense, stupidity, brilliance, deception (maybe). Catch the falling knife by the handle! Pick your target, buy in, then don't wait too long to set out.

Ode to my only flyer in an otherwise prudently diversified portfolio. Got to find some fun somewhere in this market.

Regards
Bluefishdeep