OTCQX:SREMF - Post by User
Post by
stansteadon Nov 23, 2013 5:34pm
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Cudney
Cudney
I know that some of you think CLQ is a buy because Cudney is an insider and he is buying. If you believe that, you haven't been paying attention. He's been averaging down for months and months. As of June 30, 2013, Northfield Capital is still under water. How much?
The fair market value of their holdings on June 30 was $18,533,929. The share price at that time was .495. So they held about 37442280 shares. The shares are only worth .40 now, so they have lost .09 per share, or $3,369,805.00 on the shares they held up to that date. It's called catch a falling knife and it's not any prettier when the pros do it. The next time someone says CLQ must be a buy because Cudney is buying on behalf of Northfield, ask yourself: how good is his track record? E&OE