keratas, I don't understand your reasoning for selling out of your shares at *anything* above 15 cents, without regards to company fundamentals? If the company was going bankrupt and you could get say, 3 cetns each for your shares, would you say, oh no I'm not selling any of my shares below 5 cents? I can understand selling, say, half of your holdings or 25% and then the shares that remain are so cheap (or free) they could be locked away in an RRSP somewhere, but ALL of them???? Particularly since you held them during this rough patch, if you sell them so soon, all you'll be doing is holding the shares warm for someone else to capitalise on the real profits.
If you are at all interested in small cap VOIP technologies, I think this is the ideal company. Where else on the CNQ or TSX/TSV can you find a company trading under 20 cents (or over for that matter) which has a book value at its market value, is consistently profitable, and does not have liquidity problems? (If you do actaully know of such a company - please advise :D :D :D)
Right now the only things I've seen from this company that i don't like is that they sold their oil property about a year too soon (which i guess they had to to specialise) and their no-cash policy, and even that is taken care of by their relatively high accounts receivable.
Their YOY 9-month revenue growth (or shrinkage) isn't that impressive, but they did manage to cut down expenses from EVERY category except foreign exchange loss. I also like how both A/R and A/P decreased YOY, which significantly decreases the probability of accounting funny busienss going on. It also shows that with growing earnings, decreasing A/R, yet no cash - that the profits are going back into one thing only - the business.
(all my information is gathered from their last Quarterly report ended June 30)
AI
