IMO its undervalued with the $4.8M market cap. I dont think market cap should be $144M either, but its definately worth more than $4.8M.
IMO the company is in the development stage and struggling a bit. Clearly there are PR and IR problems with this company:
- They set dates for the Mitigation Bank project permit to be approved by the Army Corps, when there really is no timeline the Army has to follow for approval. The date came and went and no PR from the company. I followed up with the Army myself to verify it is real and still in process of approval.
- They didnt handle their exit from the Canadian exchange well. For a while they were traded there and on the OTC boards. The Canadian exchange delisted them (no reason given) and the company did not address it so that didnt look good. They should have announced they were leaving the Canadian exchange rather than just letting the delisting go through.
- They dont put out press releases like they should. Good example is that they have only posted the $4.5M in contracts on their blog which no one looks at rather than posting a press release on Marketwire or something.
- Problems with Knight Capital naked shorting the stock were not properly addressed, and apparently they still have not yet covered all shares as Scottrade still cannot clear purchases only sales. Other brokers who dont use Knight as a MM have no problem
None the less, deals like the Army Corps are legitimate, I have done my DD, and this will bring revenue. If the OTCQX upgrade goes through, they will see significant increase in volume (independent studies have shown 99% average increase for co.'s that move from Pinks to QX).
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