OK probably against my better judgement I have bought a few. Reasons:
@ 8.75P Mkt cap only 1.2 mil. They have 700K cash. 1P EPS discount the cash and you are looking at PE 5. This for a business that has grown revenue by 37% year on year and will continue to reduce cost next year. Cash flow positive of over 400K on the year.
Downside - now entering the closed season so no revenues for a few months. However the 700K cash should be plenty to see them through as they seem to be more prudent in that respect than in the past.
Summary still risky but looks a decent risk reward play at these levels. If the can continue the growth next year - most will be straight to the bottom line. This is an important fact to remember.
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