Value Microcaps Motherboard

[abh3vt]

TBYH is a tough one to value in the current market. Going strictly by the numbers, its a screaming buy and should be worth at least cash value or 1.00/share as of end of Q2 of FY09. They have increased earnings nicely this year, although margins have suffered a bit. Cash flow from ops is strongly positive, although down from last year.

The big negative is a complete lack of investor relations and shareholder communications. They do the bare minimum when announcing earnings and have never held any CCs. They are an orphan in terms of sponsorship and institutional ownership. One has to wonder why they are even publicly traded. They could (and probably should) go private and save on the filing, regulatory and accounting fees. Trades like a privately held company and so valuations will suffer as a result. That goes double for a Chinese domiciled company in these avoid-risk-at-all-costs times.

Competes with companies like CNTF, and they still trade well below cash value as well. CNTF has a per share cash value of 2.45 and trades at 1.36.