Same here. Their balance sheet is one of the best I've seen for a stinky pinkie. And unless the SEC starts an investigation on them for fraud, I'll continue to hang on to my shares. I'll give the share price a couple months to pop a couple hundred percent or so, and if it doesn't happen I'll move on to something else a little more exciting. I have a lot of patience but eventually even I get bored.
Book value of this company is 1.2 cents per share so this is trading at a 94% discount to it. If this were a NASDAQ company with the same balance sheet it would be trading at a multiple of book value instead of just a tiny fraction of it. Also the current and quick ratios look healthy, so no problem paying the bills. GPM seems low to me at only 8.3%, but if they can still eek out a net profit of 5.4%, then I guess it's not too shabby. But then why am I worried about fundamentals? Penny stocks rarely trade on fundamentals. I think it's because a lot of people who trade these don't have a clue about how to read a balance sheet or how to tell a good one from a bad one. They trade simply on emotion or what they read on stock message boards.
And I agree with the bashers, CCTR has been diluting the carp out of this. But the numbers above already have all those 1.5B shares of dilution factored in. Even with 1.5B shares outstanding they managed earnings per share of .0027, which is almost 4 times the current share price.
A lot of people hate this stock because most likely they bought it several months or years ago when the stock price was much higher and didn't get out in time to cut their losses as the stock continued to nose dive. I don't blame them for being bitter. No one likes to lose money. But you have to know when to cut your losses, only you can decide what's best for you. So ultimately if you lose more than you were willing to accept on a trade it's your fault for not getting out.
But in my opinion, not wanting to touch this stock with a 10 foot pole at the current share price with the current fundamentals is a mistake. Sure, this can go to zero like any stock, but there's still potential for huge upside moves and that's why I'm here. My average cost per share is only .00072 and I'm willing to risk a 50% hit in exchange for a possible multi-bagger. We're not trading blue chip stocks here where you cut losses if they go against you 10%. You have to be willing to assume more risk for more rewards because of the wild volatility here in penny land.
All my humble opinions. Best of luck to all who own this and to those of you who don't. There are a lot of stocks and opportunities out there. There's no law that says we all have to like or dislike the same things.
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