Huckleberry, you are right, it is for all intents and purposes, a private company. The CEO reported selling two lots of 1000 shares last month. I haven't made contact with him. They file on time, so the 10k should be out late November. Any thoughts are greatly appreciated.
Obviously the company is selling at a discount because of the huge holdings of the CEO, but I look at it as an investment in a growing business at a deep discount. What I don't understand is why any company would go dark? It eliminates value and makes it harder to do stock acquisitions. So, as they haven't gone dark, my thoughts are that they may consider acquisitions in the future????
Beyond that, the company has put up good numbers, revenue and bottom line, and booking that real estate gain (at least that's how it looks to me) will just make the value under $10 all that much richer.
Like our other favorite stock, it is interesting that there are any shares available at all. The property sale will help their balance sheet. They don't have that many preferred shares outstanding, all again held by CEO.
Positives: Record earnings, top line growth, one time gain this qtr, growing market share and sales force.
Negatives: Cash position is lower than I would like to see, inventory and receivables higher (but could be normal).
Unknowns?/Wish list? Could selling those properties being done to streamline the company for a sale? If so, what could it fetch in their industry? Will they ever consider a dividend?
My goal is $14-$20 short term. Long term, I guess would depend on whether they continue taking market share and improving growth rates, but that's my thoughts, nobody should by as I'm not a professional analyst or anything like that. Of course, no matter what, it doesn't mean a thing if you can't get a nice size block.
