I do use net tangible assets in my evaluations, it is just not the most important factor. I did look at the chart for ACAS and while it is up 12.5% in the last 3 months, it is down 19.3% over the past year. Since I am a long term holder, the IPO price of $20 five years ago and the current price of $24+ shows that it hasn't appreciated much over the long haul.
Considering the high dividend, this is to be expected since most of the profit is being returned to shareholders via the dividend. The dividend during the past year was actually greater than the net profit so unless they can increase the bottom line they will not be able to continue the current dividend level.
I am not trying to talk you out of ACAS, I just find their business model to be high risk and of more interest to short term traders (those that hold for less than a year.)
You indicated that the purpose of the board was for discussion of high dividend stocks and discussion usually includes both pro and con. If the purpose of the board is just to promote a trading system then you should have indicated that in the board info.
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