Value Microcaps Motherboard

[cliffvb]

VPHM...Steve, This one looks very attractive in spite of its recent run-up. You project $1 in earnings but are you accounting for the new conv debs? They are convertible at $2.50 so already well into the money. They basically double the share count. Based on current co rev and exp projections it looks like 50c/ diluted share, for a forward PE of 8. Although, that is still cheap especially considering their other products.