There are two things holding this one down. 1) There is a big...

There are two things holding this one down. 1) There is a big seller with a very large amount of shares left to sell. The share price won't clear 9c consistently until he is sorted. 2) They need Statseeker to start showing some good sales growth.

TCN is very much comparable to PRO, but trades on much cheaper multiples. The difference is that in PRO there is no large seller waiting to get out and sales for Intersect Alliance (Snare) are creating some excitement around the stock, where as TCN doesn't have a high growth business just yet. Statseeker is very similar to Snare in that it is driven by a large volume of low value sales to some very high quality clients.

My view is that TCN is cheap and will likely re-rate but the timing of that will depend on the two factors above. Another acquisition may also serve as a catalyst but I think they need to sort out Statseeker first.