Based on the FS, the Company has revenue and profits.
For the 9 months of 2024, net income is about 233K
Intrinsec value : book value about 1M usd (Assets minus liabilities)
Based on earnings : let's use a p/e of 10 and we get 2-3M usd
This is well below market cap.
I like the fact that they decrease their liabilities the past years.
I do not like the last interest expenses up to 58K versus 11K (9 months 2024 vs 9m 2023) as I don't understand this number.
So yes, imo the Company is undervalued but the poor quality of the FS counterbalanced this.
So without PRs, some excitements and this kind of FS, we are stuck here with poor volume. But it's a good candidate to a rerating as soon as there is something new or more tangible at work.
Many other otc tickers trades based on pure speculation with no intrinsic value and losses.
So a wait&see game here for me.
As many, I make the money when the OTC markets went nuts a few years ago. Missing the good time but still watching.
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