Post by lookingforatenbagger on Feb 28, 2017 18:54:11 GMT
The 10K shows stockholder equity at ~$30M with $16.6M in cash at the end of FY2016.
With 11.6M shares currently outstanding that's $2.50 and $1.43 respectively. They wrote down $3.8M for excess and obsolete inventories at the end of 2016. but stiill show $9.4M ($0.82/share) in inventory so most of the stockholder's equity looks real.
Add in their $18.5M ($1.62/share) tax loss carryover and another $1 for being a going concern and $3 looks pretty cheap.
The price is still falling like a rock down from a high of $4.80 at the middle of the month to a low of $3.03 today (12 month low =$2.95), but once a floor is put in and the cat bounces it should be a safe for a while.
With 11.6M shares currently outstanding that's $2.50 and $1.43 respectively. They wrote down $3.8M for excess and obsolete inventories at the end of 2016. but stiill show $9.4M ($0.82/share) in inventory so most of the stockholder's equity looks real.
Add in their $18.5M ($1.62/share) tax loss carryover and another $1 for being a going concern and $3 looks pretty cheap.
The price is still falling like a rock down from a high of $4.80 at the middle of the month to a low of $3.03 today (12 month low =$2.95), but once a floor is put in and the cat bounces it should be a safe for a while.