On December 8th, I received $5.00 per share of ASA International (ASAA) in both of my accounts that held shares. The big surprise was that I did not have to pay any commissions in either account for the reverse split cash tender!
Let’s take a look at the performance results. On October 22, I purchased 425 shares of ASAA for my son’s Coverdell ESA for a total cost, including commission, of $1,946.70. On December 8th, $2,125.00 was deposited in his account. The total return was $178.30 or a 9.2% gain on the total investment. That return was made in just 47 days. Adjusting that gain into an annual rate using Excel’s handy XIRR function, this transaction produced a 97.5% annual percent yield. Not bad…
My second plunge into ASAA was even sweeter. This time I bought 500 shares at $4.45 on November 19 for a total investment of $2,235.00 including commission. In just 19 days, I made a gain of $265.00, which is a 11.9% gain on the investment. This is an amazing 761% annual percent yield! Now if I could only repeat this kind of transaction every 14 days.