Nordex Explosives Ltd V.NXX

CORRECTION

[cardealership]

My average price is 32 cents per share not 23 as mistyped in my previous post.

[Bean_and_Dunn]

If you were to buy another 50,000 shares at $0.17 your average price would be $0.245. Even the $0.245 price is still only 56% of book value. I would bet that you will soon be back to $0.32 and better. I for one am hopeful that this is the last skeleton in the closet. One or two big worries. First is a possible law suit, because the book keeping was so very (how shall I say this politely). Oh, I

[Bboomer2]

If your calculation of the "book value" of Nordex was correct the 2 major powder companies who did a due diligence (one company did it a 2nd time a year later) wouldn't have walked away without making an offer.  You're missing something B&D or the accountants who did the dd each  missed some asset value you know about.............or you're playing your own pump

[Bean_and_Dunn]

My calculation of book value is correct according to the balance sheet that Nordex filed as of April 28 2015. Total shareholders' equity was $8,909,477. (pg1 of the balance sheet).  The number of shares outstanding at year end was 20,413,435 (page 2). You and I may question what Jim O'Reilly and Joseph Hunnisett consider to be assets. Perhaps there are still other ghosts in the