Just because they make a profit it doesn't mean it's enough to cover expansion. They are growing. They wanted the extra money to help get established in more markets. They have low outstanding shares and a profit. There is no way this should be trading this low. More than likely it won't be this low for long.
However in this scam arena I have seen small companies that do report profit take on more and more convertible debt.
Because the insiders took ALL the profits and that still wasn't enough to slake the greed so they took on convertibles as well and pocketed ALL that cash as well.
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