This is an Intersuisse report, commissioned by Konekt.There's...

This is an Intersuisse report, commissioned by Konekt.

There's not much in it, really. They're predicting $36.5m revenue in FY10 and a 0.5c dividend. The first is straight out of the Konekt's own estimates and the latter seems like a guess. For FY12, they estimate $55m in revenue and 5.3c EPS.

The business analysis is just a summary of Konekt's presentations - as I guess it has to be.

There's a general analysis of PE ratios for smallcaps which is interesting. Turns out that very small companies tend to have much lower PE ratios.
at present, average P/E ratios, on a trailing basis, of profitable companies are in the order of 14.1x for the All Ordinaries or 12.1x for the Small Ordinaries constituent, declining to around six to fourteen times in the $20m to $200m industrial company, most likely somewhere around eight times in that size range.

and

We thus expect, in the recent and current market, a typical profitable company under $50m to have a P/E ratio around 6.6 times its prospective earnings.

So Konekt's share price is likely depressed because of its tiny market cap - about $8m at the moment. That means it won't even be an option for most institutional investors, and even many retail investors.

This could, however, unwind at some point, providing positive feedback to a reevaluation - higher share price -> more respectable market cap -> lower risk + higher PE ratio -> higher share price.