When the annual report comes out, we will have a much better basis for determining the comparable worth of the company. I suspect there are about 800 million shares outstanding. At a penny a share, the company has a market cap of $8 million. Obviously, at today's price of roughly 0.4 cents per share, the valuation is lower.
Innovative foods is a legit company, though not without some major concerns (when one customer represents 80% of sales, that's a major concern). Yet the company is taking actions to diversify its customer base and increase margins. When we see what's really happened over the Oct-Nov-Dec quarter, we'll have a much better assessment of what this stock is worth.
I'm guessing that a penny is a done deal in the next 60 days. The question is where we go from there.
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