PharmChem Laboratories Inc (PCHM)

[LMLYP]

There are no annual filings, no cash flow reports to look at.

Cash Position

March 2011 $897,549 (15 cents per share)
Y/E 2012 $951,919 (16 cents per share) up $54,370 Y/Y
Y/E 2013 $1,056,960 (18 cents per share) up $105,041 Y/Y
Y/E 2014 $1,620,866 (27 cents per share) up $563,906 Y/Y
Y/E 2015 $2,303,503 (39 cents per share) up $682,637 Y/Y

They paid $292,600 in dividends.
Cash was up $682,637 (a year before the payout).
2015 Liabilities grew $85,000 more than non cash assets grew.
They expect similar sales growth in 2016.

DISCLAIMER

I think they will pay another five cent dividend.
I think they will be able to pay between six and seven cents.
I don't think buybacks make sense.
This is too soon to be a PE stock.
If it were, we would not be at five times estimated earnings.
My track record on this board has been terrible numbers wise.
So don't trust my estimates, ever ever ever.

Why did PCHM audit their financials in 2014 and 2015?
There is another value here that can unfold.
Too soon to think about that.

Rapid growth is more than any of us can ask for.
Long term investment!

DIVIDENDS

PCHM