Novra Technologies Inc V.NVI

Harris Liontas

[mlmack66]

With the announcement of Harris Liontas stepping away from the day to day operation of the company one has to wonder if he is considering taking the company private. Although the balance sheet looks terrible, negative working capital etc. when one digs into the numbers the majority of the debt is deferred salary of Mr. Liontas. They have a line of credit of 0.85 million which they have not used in 20 years and $2.6 million in cash and GICs.Insidets own 30% of the company so let's say 24 million other shares outstanding. They could offer $0.10 per share and pay for it with existing cash. Must be tempting, let's see what happens in the next few months.

[Ciao]

One of my thoughts a while back, he must want to retire. He has the succession planning done now and he needs to monetize his 5.4M shares.   They should really make an effort to grow rev. (if possible) and turn this into a bit of a growth story. I thought the purchase of IDC in 2016 would make it so. There is no interest in the company, given it only trades 1/2 of the trading week.

[Ciao]

The company needs to be sold. There is no retail interest and trading volume. Over the past 3 years, there have been 9 news releases beyond the financials. Most companies have shown a recovery in revenues post COVID in 2023.