this is my opinion only based on my personal observations. make your own osbervations, read the damn prospectus and make your own conclusions, and always seek advice from an urelated party ie one that does'nt make a commision on your investment.
Overall Health Check:
As I can see from the prospectus this company has been only making losses, with no dividends in the short to medium term.
Current Prospects:
So far returns have not been very good, infact comparable to fixed interest, but considerable more risk.
Capitalisation & Liquidity:
This company does not have a large (infact very small) capitalisation, and the liquidity of it's share is very dubious. It may be very difficult to offload shares promptly if the need may arise.
Financially Robust Shares:
While the company does not have debt, it's cashflow is still very low and has only generated losses. Of the $6 million raised in Nov 2002, at Sept 2003 it has less than $2.5 million in cash.
It has also acquired for $1 million the Navtrade system which is it's main revenue generating asset. Returns for the funds managed so far have not been above ordinary, and considerably low in relation to the risk.
Conclusion:
This company's sole purpose seems to be managing the Navra funds. Basically it has one only client. There seems to be no past proven record for the Navtrade system (at least five years) for which $1 million was paid, which means future prospetcs are dubious. For all this uncertainty Mr Navra and Mr Bill de Steiger will recieve a salary of $150-200K plus expenses. The company's office is rented from Navra Financial Services for $170K per year.
Bottom line this seems a very lucrative deal for the existing selling shareholders, with a very uncertain and risky future for the new acquiring investors.