Wireless Xcessories Group, Inc. (Pink Sheets: WIRX.PK) is a Pennsylvania-based nano cap that designs, manufactures, and distributes accessories for cellular phones, including those manufactured by Apple, Nokia, Samsung, Research In Motion, and other companies. One example of the thousands of accessories WIRX sells is this protective iPhone cover:
Pink Skulls Pattern Protective Cover for an iPhone 4WIRX may not be a great business, but it appears to be selling at a great price: according its most recent financial summary, the company had no debt and net working capital of $7.3 million as of 9/30/2010; as of Thursday’s close, it had a market cap of $3.8 million.
Last March, the company declared an annual dividend of $0.10 per share. We should know soon whether the company declares another annual dividend and, if so, how much it will be.
A few cautions about this stock: it’s illiquid and thinly traded, and the company’s financial statements haven’t been audited since it voluntarily deregistered its common stock in the spring of 2008. Based on its final 10-K, filed on March 28th, 2008, Audit Integrity had rated the company as having a conservative Accounting & Governance Risk (AGR®) score of 85 out of a possible 100, ranking it in the top 96th percentile among the approximately 8,000 companies rated by Audit Integrity at the time.
