director buys and outlook , page-5

Agree with you calc Psych. Timmy's way over the mark.

A conservative eps of 17c with a conservative multiple of 8 gives 1.36. We are currently slightly on the cheap side. The good and bad about microcaps like these is the low liquidity. I love it when management have a large stake but at the same time with thin trading, it's difficult to build a large stake yourself without setting it off. Just look at the sell side; not much available and large gaps.

Like Lev, I just accumulate quietly in small amounts. Once I have enough, just sit back and wait for them to pay large divis and the market will start to realise it's undervalued. Don't be surprised to see double digit yields in 12months time at these prices I mean (my opinion only).