Garfield Investments

NEWC: Other People’s Money

Discussion Points

• Introduction

• Financial analysis

• Outlook

• Proposal

8th Wonder of the Corporate World

DEBT RATIOSDebt-to-assets 0Debt-to-capital 0Debt-to-equity 0

SOLVENCY Financial leverage 1.10

COVERAGE RATIOSInterest coverage 8.5Fixed charge coverage 8.5Z-Score 2.88

Financial Analysis

LIQUIDITY RATIOS VALUATIONCurrent ratio 6 P/E 448Quick ratio 3.6 P/S 2.8Cash ratio 2.4 P/BV 1.4Cash conversion cycle 421.05 Basic EPS 0.03

PROFITABILITY RATIOSReturn on Sales Return on investmentGross profit margin 0.31 Operating ROA 0.02Operating profit margin 0.11 ROA 0.001Net profit margin 0.006 ROE 0.001

NEWC VALUE: 96 200 000 USD

Outlook

• Financial crisis

Alternative Investment Options:• Airbag production

CONS:• Global Economic Crisis• Slump in car production• Systematic consumer fears• High metal volatility

Managerial options:• Reorganization• Reengineering

CONS:• Expensive• Resource-intensive

Proposal

SELL14 USD/SHARE

I HAVE NOTHING TO HIDE FROM YOU

I’M YOUR ONLY FRIEND

Garfield Investments

THANK YOU!