Why is Net2Auctions valued at over $20 million?

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Why is Net2Auctions valued at over $20 million?
24 Feb 2006
I would be interested in views why Net2Auctions (NAUC on the pink sheets) is valued so highly - it looks to me like they have almost no revenues and no assets to speak of. Anybody any insights?

Christian
Christian
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Re: Why is Net2Auctions valued at over $20 million
27 Feb 2006
You asked an interesting question. It might be closely held by insiders? If so they might be able to trade amongst themselves (and thus establish the price)?

Anyway, here is a list of additional press releases from the company that aren't posted on the net2auction website (yet).

11/9/2005 5:00:01 AM Net2Auction's Second Warehouse Nears Capacity Due To Business Growth; Net2Auction Is a Leading Provider of Auction Drop-off Services - BusinessWire

10/17/2005 5:15:01 AM Net2Auction Signs 5 Year Agreement With Kids Korps USA, A 501(c)(3) Non-Profit, as its Exclusive Manager for Selling Donated Items on eBay; Net2Auction Is a Leading Provider of Auction Drop-off Services - BusinessWire

10/11/2005 5:03:01 AM Net2Auction Acquires AuctionWagon with Processing for 23 eBay Drop-Off Locations; Net2Auction is a Leading Provider of Auction Drop-off Services - BusinessWire

10/11/2005 5:00:01 AM AuctionWagon Acquired By Net2Auction, Inc. - BusinessWire

9/29/2005 10:39:44 AM WallStreetGrapevine.com: "Stocks on the Rise" - M2

[Last edited: 27 Feb 2006]
London United Kingdom
auctioning4u.co.uk
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Joined: Nov 16, 2004
Re: Why is Net2Auctions valued at over $20 million
27 Feb 2006
Thanks, that is helpful. Would be great to get some data on revenues, profitability and alike. It's a public company, anybody out there knows more?

Christian
Christian
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Alphabet Software, L.L.C.
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Re: Why is Net2Auctions valued at over $20 million
28 Feb 2006
I checked online and wasn't able to get at the financial data - but I can get you the text from any of the press releases mentioned above if you like.
United States United States
Otto
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Re: Why is Net2Auctions valued at over $20 million
13 Mar 2006
It appears to be a sham,

here are blogs about it

www.stocklemon.com/08_09_05.html

www.stocklemon.com/05_26_05.html

www.thinkfn.com/forum/posting....

here is financial information - Cash of $55,000 on balance sheet and sales of only $57,000 for 9 mths thru 9/30/05.

www.pinksheets.com/quote/finance.jsp?symbol=NAUC

Incognitus wrote:

Bahamian Brokerage Firms, Direct Mailers, and Stock Promoters … Need We Say More?


Out of a 380 square feet office located at 3440 E. Russell Rd Las Vegas, Nevada, Delmar Janovec runs 3 different public companies. One of these companies is the newly formed Net2Auction (NAUC). Net2Auction is a spin off from AmeriResource Technologies (AMRE .14 cents) which since 1989 has been in every business from construction, motorcycle rentals, kiosks, real estate, and gambling. There is one theme to all of the businesses operated by Amerisource over the past 10 years.

None have produced significant revenue or delivered one penny of profit to shareholders.

www.ameriresourcetechnologies.com/history.html

Management of Net2Auction has a dubious history of civil lawsuits and run ins with the Internal Revenue Service, but that we will save for a later day. For now, let’s look at the joke of a public company with the symbols NAUC.

Capital Structure of Net2Auction

Shares Outstanding- 50 million +

Market Capitalization $200 million +

Cash- $32,379

Loans from investors and affiliates - $129,953

(sounds more like a friend down on his luck rather than a public co.)

How is Net2Auciton’s business?

According to the most recent 10Q filed, this is how their last quarter looked.

Gross revenues of $2,585 last quarter

Cost or Revenues- 2,298

Gross Margin- $287

www.otcstockinfo.com/repository/656819/656819_FR11.pdf

That means that if the company had 0 expenses, they would have made $287 for the quarter (unfortunately it takes money to operate a business and the company lost $67k for the quarter) Stocklemon believes that if the CEO were to panhandle on the streets of New York for 3 months, he could make more money than $287.

The company actually sold only 193 items on eBay in the last seven months.

search.ebay.com/ws/search/MemberSearchResult?frompage...

Nothing more than a local small time Garage Sale.

All Part of a “Shady” Stock Promotion

Much of the buying of Net2auction has been triggered by a flagrantly illegal direct mail piece that was sent under the title “The Bullish Report”. This direct mail piece was riddled with inaccuracies, misstatements and an unsubstianted price target. Worst, the piece was anonymous. Even though it is disclosed that a third party paid 300,000 shares to have this mail piece distributed, it does not disclose who that 3rd party is, a clear violation of securities laws. As far as Stocklemon is aware “The Bullish Report” has no operating history and was created for the sole purpose of promoting NAUC.

Stocklemon has forwarded a copy of this report to the proper authorities.

Mystery Stock in an Offshore Brokerage Firm

The 15c211 disclosure document filed by Net2auction, states that Munich Captial Group is the holder of 5 million shares of NAUC.

www.otcstockinfo.com/repository/656819/656819_FR11.pdf

Who is Munich Captial Group?? The only thing we know about them is a contact person named Edison Sumner. Mr. Sumner is an assistant at Montaque Securities International, a Bahamian brokerage firm.

www.msitrade.com/about_management.htm

Would Mr. Janovec ever be involved in something as underhanded as dealings with stock promoters and offshore brokerage firms?

Sure he would.

[Last edited by moderator: — 14 Mar 2006]
London United Kingdom
auctioning4u.co.uk
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Joined: Nov 16, 2004
Re: Why is Net2Auctions valued at over $20 million
21 May 2006
Well done Otto, could not ask for more info than that. The other public firms seems much more reasonable priced with EZTOE.OB being valued at $1,300,000 and TIDC.PK at 150,000. I could not find market caps for AUML.PK, OBDP.PK,
OSSG.PK and SNPD.PK. Any insights on any of these?

Christian
Christian

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