Value Microcaps Motherboard

[valuemind]

cleverrox, re icts

icts made $8.8 per share in 2002 mainly due to the capital gain from selling its European airport security business, where $7.5 was distributed as special dividend in 3 installment.

Beside 6.4 million shares outstanding, there are about 0.85 million option outstanding, where most of them belong to the current board chairman who chose to be paid by stock options instead of cash compensation at the end of last year.

icts' share price drop below $2 because it sold european airport security business and was taken away US airport security business by US government, thus occured loss in the past a few quarters. Recent 2 news release (winning lawsuit against US government and restart European airport security business) indicate that icts is on the track to be profitable again. It is my belief icts may fly over $10 within a year.