Value Microcap DD

[ghmm]

I posted this on the other board (#msg-32296727) but thought to put it here too.

IRD.TO / IRDYF: (International Road Dynamics)

This is a nice microcap that probably not too many people have even heard of. I see three ways people can play this:
1-As a value play. Not just based on book value but if one would guestimate what an acquirer would pay for them or if they broke up some of their international divisions I suspect it could fetch north of $2 US a share.
2-As a short term turnaround play. They have been announcing a lot of descent sized orders in the past few months couple that with their recent China division acquisition that was doing 10MM a year and they should do quite well in the next few quarters. They are coming off a relatively bad quarter too.
3-[The way I generally like to invest] as a long term growth play. Their revenues from quarter to quarter have varied but looking out on a yearly basis they have been consistently growing. Over the past couple years they have started or acquired divisions in international regions (China, India, Brazil, Chili most recently Nigeria) they are positioning themselves nicely on the international scene. If one looks at what they have done in Brazil for example a small investment a few years ago (40% interest) and they recently announced a CAD$6MM order which also sets them up for more work there.

I’ve been putting together a lot more research on the company and if someone starts a board I’ll contribute more info.