PAX: Another Net-Net Opportunity (PSE: PAX)
On a previous post, I presented and defined a net-net opportunity. Paxys, Inc. (PAX, the “Company”) is another net-net opportunity with much higher upside (thanks to a reader who presented me the idea). PAX is a holding company focused on investments in the business process outsourcing (BPO) industry.
PAX has undergone corporate restructuring since 2012 which resulted in the build-up of cash in the Company’s balance sheet. To better understand the changes, below is the corporate structure of PAX in the beginning of 2012:
Currently, PAX has only two operating subsidiaries namely, ScopeWorks Asia, Inc. (SWA) and Simpro Solutions Limited (SSL). SWA is a Philippine BPO company engaged in general and legal transcription, editing, proofreading, mortgage processing and data conversion services with clients in the US…
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Entry filed under: Phisix's Closet (PSEi).