Value Microcaps Motherboard

[hweb2]

stan, nice call on CTON.OB. I bought a few. Some big positives here. Q4 earnings of .04/share vs. .01/share (before tax benefit) last year. Q4 revenues up 71%. Strong balance sheet with .28/share in cash! Company intends to reapply for Amex when they meet the listing requirements.

However, one big negative that I can see. Backlog dropped sequentially from $7.7M to $3.8M. Looks like there were hardly any bookings in Q4. So I wouldn't expect a repeat performance in Q1. But it looks like the company was breakeven during the first 3 quarters of 2004, so I still think it's attractive in the .40's with that balance sheet.