e-ore's sleepers

[e-ore]

ASNB another new high. Patience rewarded, been on this one a long time :)


e-ore Member Level Thursday, 12/20/12 12:21:05 AM
Re: None
Post #
41 of 1153
ASNB - Currently .035 x .05. Insiders, and possibly the company, are choosing to buy now. I'm tagging along. Like this one :)
I've had it for quite a while and have been fortunate to trade it well. I still have a sizable position and have been adding. I'm putting it on the sleeper board only because it's gone so quiet. 30% of the trading in the last month has been insider buying on the open market. It's possible that other trades are company buys; they have a share buyback program in effect at this time. In my opinion they have fallen from the .30 level only because of the proposed new tax on medical device manufacturers. They are not a device manufacturer, but their products are proprietary specialty plastics purchased by device manufacturers. They are on the OTCQB but used to be on a higher exchange and I'm sure had traditional investors as the majority of their shareholders who have bailed for safer territory, thus the fall. The quiet trading lately tells me they have all gone now. The company has a history of losses but revenues are up and expenses are down. Management is controlling their "burn rate" well and have engaged in some creative, non-toxic financing. Again, they are choosing to buy now.

From 10q/a filed 10/12/12:

"As of November 12, 2012, there were 21,490,621 shares of the registrant’s Common Stock outstanding.
Preferred stock: $.001 par value; 5,000,000 shares authorized;
500,000 shares issued and none outstanding as of
September 30, 2012 and March 31, 2012
Common stock: $.001 par value; 50,000,000 shares authorized; 21,567,313 shares issued and 21,490,621 shares outstanding as of September 30, 2012 and March 31, 2012, respectively
Total assets $3,329,000
Total liabilities $2,424,000"

They've been in business since 1993, first as a subsidiary of PolyMedica Corp, then spun off in 1996. Employee status as of 3/31/12 10k

"As of March 31, 2012, we had 15 full-time employees at our leased facility in Wilmington, Massachusetts in the following positions: (i) six in production, (ii) three in research and development, (iii) three in sales and marketing, and (iv) three in administration."