Grapefruit USA Inc (GPFT)

[scottmba]

I want to offer this perspective. I have been long IMGG since last September, sold a few shares around $1.80 (because I thought the price was irrational back then), and bought them back as they dipped below $1 at various prices.

I am very surprised to see the price at .53. Let's be honest, at the current market cap, this is a steal. Why? the market cap is a mere $199 million. How many machines will they have to sell to cover that value. About 300. (Obviously that gives zero value to the patent portfolio, future sales, other applications for the software, etc.)

Now, we all know he has a significant backlog of orders right now. We also know that the FDA had minor questions and required a few outside radiologist opinions. There were no major concerns with the application.

So why are we here, when approval can come any day now? The only guess I can offer is that people just don't expect approval. That is fine with me, if this stock wants to dip below .50, the risk/reward even with a delay is a no brainer. I have this in my IRA, so I can't even use the money for 30 years anyway.

The fact that there is no run-up to an FDA decision is just as irrational as the fear that lazy Greeks can cause a global double-dip.