Nice. You should share it, DD. What is it and do you have a link to the source? A business plan out there would be very interesting to read. Just be mindful that one can project anything. My Fineqia over there projected great things by this time. And didn't deliver. But I'm still loading up under a penny since they are doing a capital raise right now.
So, speaking of Sunset and Karaoke, you should check out SMDM. This one is all speculation, but a whole lot more interesting. But I just can't get interested in Karaoke like our agents. They all love singing it seems. I wonder if they are using my machines? SMDM is 16-cent stock now, but has actually been around since 1982, Over 95% of their business is Karaoke, and they are the global market leader. True story. And, they are profitable and cheap. I'm reading their conference call from last month right now, and some interesting insight into their plans to go Nasdaq:
We can’t talk about NASDAQ, but what I can say is that we are working on up listing from the OTC up onto a national exchange and that project continues to move forward. So we’ve submitted an application to one of the national exchanges already, and we’re in pretty regular communication with their team. It’s our belief. We think we meet all requirements right now for an uplisting, with the exception of our stock price, obviously. And also the total number of shareholders we need to have at least I think 300 round off shareholders for an uplist.
So in terms of how we’ve responded to those challenges, we’ve – during our last annual meeting, we successfully receive support from shareholders to do a reverse stock split. So that way we can meet the share requirement, if we do get successfully uplisted. And also we’ve engaged with probably one of the best law firms in the country when it comes to handling uplist.
So we think we’re going to be able to successfully resolve any and all deficiencies right now in the application. And we think we’re in an excellent position to move forward with a pretty timely and efficient uplisting onto one of those national exchanges. So we’re excited about this, because we think it has great potential to unlock a lot of shareholder value. OTC is a – it’s a fine exchange, but I think most people would agree that it’s not a national exchange, like a NASDAQ and NYSE. So we think it’s going to be a great event for the company.
So reverse split in the cards. But the metrics on that stock are incredible value. I think it's too boring and off radar to be properly priced. Maybe an up listing would fix that...
They have $2M in net profits for the year so far on almost $50 million in annual revenue. Not projections. But now. As in fact, right now. Long history. I just want to know, is Sunset Drunk using this company's brands? We have Karaoke addicts for our spy satellite network it seems.
Look at some of these metrics: Stock is 16 cents, but 20 cents of cash per share. Enterprise Value under $10 million and a p/s of .16! This stock should be worth $1.00 in my eyes and still be a value. I know that sounds hyped up and your typical board rhetoric, but I'm being serious here.
Yes, YBCN is far more interesting, but let's be honest. All speculation at this point. And I wouldn't want to be sitting out of either one. I'm going to buy more shares of SMDM tomorrow, rather than more here. I have plenty here.
China manufactures their products, so it just seems appropriate to be loosely connected here to the discussion. And that company is already in big retailers like Walmart, Costco, Sam's Wholesale, and Target. Long histories with them. Just incredible value to me! Just those distribution partners alone are a great vetting process in and of themselves in my opinion.
