I know the believers here don't want to hear this, but the market is rarely, if ever, as wrong on a stock as you believe the market is wrong on this one. I will stand by my assertion that if these guys really had the numbers they have been bragging about, there would either be huge money coming into this thing, or a tender offer. The lack of interest from the street in a stock that supposedly has such great numbers that should attract major money, is very telling. If PBLS is to be believed, this stock is trading at 1/18th or so of book value, and less than 1x earnings. Doesnt it seem odd that there isnt buying all over the place on this? This company isnt a big secret, they have been researched. Did you ever think why the stock dropped so far under 3 cents when they had a share buyback? Granted, I got my check, and bought back, did ok on that arbitrage, but the way the stock performed since the buyback announcement has been sickening. My theory is that there were big $ guys in it then , did their reseach, and bailed out big time, they didnt even wait to get their certs to send to the company. The way this has traded tells me something stinks bad, and I believe the market above all else. I am a proponent of the perfect market theory. I would figure that without audited financials, if the company is to be believed, the market would give it maybe a 40-60% haircut to fair value based on no audited financials. a 98% haircut to what would be fair value should be if they tells me they are not to be believed.
I wish I had reason to believe them. I do not.
AI
