NetSol signs agreement to sell its software

LAHORE: NetSol Technologies Limited has signed a multi-million dollar agreement with one of the largest leasing companies in Saudi Arabia to sell its software LeaseSoft, an end-to-end solution for the leasing and finance industry.

According to a press statement issued on Tuesday, NetSol will provide license and implement LeaseSoft Retail Suite comprising of Credit Application Processing System (CAP) and Contract Management System (CMS).

NetSol has already launched its flagship product LeaseSoft in Asia successfully and is taking Middle East as another important region to get in and automate its leasing and finance industry.

http://www.dailytimes.com.pk/default.asp?p...0-1-2008_pg5_21

Great going.

Good.

Dissapointing News!.

This company used to be worth $2 billions dollars at one point, today it is worth $57 million. They have cashflow of $29,000. Their revenue last year was only $32 million. They are one of the few Pakistani compnaies that trade on US exchanges: NTWK -ticker symbol. their stock trades at $2.30, at its peak it was at $80. Last year they had a net loss.

People are getting excited about a $1.5 million deal. When I worked at a small Indian IT company is th US, I worked on RFPs for $2-3 million projects everyday.

While Indians companies have diversified their products, solution, and services and making billions of $s (Tata signed a $200 million BPO deal this week) this company had everything going for itself and kept selling some crappy leasing software.

Saying that, I'm going to buy some of their stock, because I think it is a really good time to buy. They announce earnings on Feb 13th and I think finally this company will make a profit (sad as that is). Also their market cap is $57 million, its a small float, and their revenue is $32 million. Recently in November it had come close to $5. So with little good news on earnings I think it could go much higher from its current price. Also, in the future if it does well (which I can't figure out why its so hard for them) this stock could be a gold mine.

SEE I predicted it, its up 12% today!