Garfield InvestmentsNEWC: Other Peoples Money

Discussion PointsIntroductionFinancial analysisOutlookProposal

8th Wonder of the Corporate World

DEBT RATIOSDebt-to-assets 0Debt-to-capital 0Debt-to-equity 0 SOLVENCY Financial leverage1.10

COVERAGE RATIOSInterest coverage 8.5Fixed charge coverage 8.5Z-Score2.88

Financial AnalysisLIQUIDITY RATIOSVALUATIONCurrent ratio 6P/E 448Quick ratio 3.6P/S 2.8Cash ratio 2.4P/BV 1.4Cash conversion cycle421.05Basic EPS0.03

PROFITABILITY RATIOSReturn on SalesReturn on investmentGross profit margin0.31Operating ROA0.02Operating profit margin0.11ROA 0.001Net profit margin 0.006ROE 0.001

NEWC VALUE:96 200 000 USD

OutlookFinancial crisis

Alternative Investment Options: Airbag production

CONS: Global Economic Crisis Slump in car production Systematic consumer fears High metal volatilityManagerial options: Reorganization ReengineeringCONS: Expensive Resource-intensive

ProposalSELL14 USD/SHARE

I HAVE NOTHING TO HIDE FROM YOUIM YOUR ONLY FRIEND

THANK YOU!Garfield Investments