long-term investors rely not only on research but essentially...

long-term investors rely not only on research but essentially on patience as well,
and more so at the smaller cap or the illiquid side of the market.
The investor may realize a certain factor about a comp that makes one think YEH that's the one with the potential.

At this micro cap level, many of us are prospectors for rough diamonds, ( at least myself).
These rough diamonds are not easy to come by If one only consider cash flow positive companies.
there are obviously various other filters one will use to select their potential winner.

Patience is the ingredient required after the research and purchase are done. and is definitely a testing quality. but once you have been rewarded for a long wait it becomes easier.

Now, after all that speech, KKT is not a comp I qualify as a rough diamond, but I certainly think the SP is undervalued and may even Double itself within a year if all goes well.