Value Microcaps Motherboard

[abh3vt]

Hweb, glad to see you also see some value here with DAAT.ob at 2.28 and guiding for 0.23 - 0.26 this FY. Just wanted to note that the upcoming quarterly report (Q2) won't look great y/y because of tax rate changes and additional dilution. Q2 04 had a tax rate of 2%, and fd share count of 5728. Q2 05 will see a tax rate of 39% and fd share count of around 6500, because of in-the-money warrants + PP done just over a year ago.

I rail about using pf tax rate to normalize eps, but it usually gets lost in the shuffle. DAAT will have easier comps for net income in Q3 and Q4, when they have a tax rate of 21% and 39% respectively.

DAAT's guidance uses pretax growth as the performance metric, which I agree with.