Not only that, but JSDA is now worth around 1/2 of DKAM and down almost 99% from its high. Its tangible book is 2x its market cap. As of last quarter it had cash in excess of its market cap. It's trailing 4Q revenue is about $35 million and that's the lowest in 2 years. It's had some large losses over the last 4 quarters, but if you compare loss as % of sales with DKAM, it's not very different.
If anything, it bolsters the argument that DKAM is not undervalued, certainly relative to JSDA.
But the bottom line is that JDSA is not DKAM and there should be no expectation of correlation between the two companies. DKAM could do better or could do worse.
All MHO.
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