It may be cheap, but is it a Goode value?
Those of you who have followed me for a bit know I have a thing for Maxlife Fund Corp (OTC BB: MXFD). Today they filed a new 10-Q (the filing was late, too). There was nothing surprising in the filing. Sales remain at $0, the company’s book value continues to shrink, and the stock barely [...]
It is always fun to observe the actions that executives of listed shell corporations (excuse me, I mean development-stage companies) will engage in as they try to pretend that they run real companies. They will put out press releases about the most mundane and inconsequential things; they will project absurd revenues when they do not [...]
From a letter to Maxlife Fund Corp from director Daniel Kahan attached to today’s 8k filing:
Gentlemen:
This letter shall serve as notice that as of the date hereof, I hereby resign from the Board of Directors of Maxlife Fund Corp. (the “Corporation“).
My resignation is the result of my disagreement with the Corporation relating to [...]
Maxlife Fund Corp (OTC BB: MXFD) filed its 10K today. There were no surprises. Maxlife has not had any revenue for the last year (the only revenue reported in its 10k is from the quarter ended November 30, 2007). Maxlife has sold $480,000 more in preferred shares in the most recent quarter. However, while the [...]
Over the last two months Kahan sold every share of Maxlife Fund Corp (OTC BB: MXFD) that he owned. He made $59,850 from the sales of 2,500 shares while also donating 500 shares to a synagogue. Not a bad profit for someone who is director of a company with essentially no operations, assets, or revenues [...]
Here are a few questions that I would like the management of Maxlife Fund Corp to answer. Investors should consider what they believe the answers to these questions to be before investing in the company’s common or preferred stock.
1. I saw that you announced a dividend on the preferred stock today. How many shares are [...]
I previously believed that MaxLife Fund Corp (OTC BB: MXFD, $17.50) was just an overvalued, over-hyped microcap. I found nothing fraudulent about the company’s actions. The company’s continuing and increasingly unrealistic optimism in press releases is leading me to consider that the company is not so innocent. Only by keeping a stream of good news [...]
Many things can be said about MaxLife Fund Corp (OTC BB: MXFD). Certainly, it could be called overvalued: the company, trading at a recent $18.89 per share and a market cap of $572.2 million (it has 30.3 million shares outstanding as of January 14), has a book value of $560,000 and revenues for the most [...]