$45m revenue per annum - market cap $7m, page-6

I think this company is seriously undervalued. They have virtually no debt, they are making money (EBITDA) and have a sensible cost base (they cut their expensive property rental and the CEO and Chairman both took pay cuts last year to get the company in tip-top shape). Also, the Bioenquire deal is fantastic. They are buying a profitable business for a PE of 3! Yes, 3.....

The problem is...THEY ARE TOO SMALL TO APPEAR ON THE BIG GUYS' RADAR SCREENS, as you noted. Ans small shareholders often sell for personal reasons which may not be financially rational. I don't blame them, but often with small cap companies like this one, the price doesn't reflect the value.

But, for the small investor, who doesn't expect dividends in the short or even medium term, but wants to see growth in the next 2-5 years, this company is a little gem. There is no reason why the stock shouldn't be $0.40-$0.50. At low 20s, IMO, this stock is a bargain. I hope to see it at $1.00 in the next few years.