The wording of this is pretty curt, and the management situation (with ex-managers holding large chunks of the stock, and what one suspects has to be disagreements behind the scenes) is not exactly encouraging. But the market (share price and buy depth) seems to have reacted positively.
With no debt, positive cashflow, and diverse sources of revenue, the fundamental downside seems low. The upside is looking more limited than when I first invested - there are clearly problems both in growing revenue and in holding onto existing clients - but even stabilisation at last year's levels should surely warrant a valuation higher than $5 million.
KKT Price at posting:
6.8¢ Sentiment: LT Buy Disclosure: Held
