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leftope

08/21/13 12:21 AM

#2 RE: triadtreats #1

Agreed it looks interesting.

Management owns significant stakes, much of which is in restricted shares with ROC and growth targets attached.

Has $3.2mm in NOLs as of 4/30, compared to $1.05mm in TTM operating income.

Largest customer is 49% of sales. It has little differentiation in its products from competitors.

The good news is things are looking optimistic for next year. Backlog is $12.6mm vs last year's $9.8mm. The stock may not have discounted the anticipated FY14 earnings, but I don't see any visibility beyond immediate backlog, do you?