Reverse Corp is a dinosaur from the days of reverse calling which is still surviving and bringing in cash as kids on mobile phones start using it to ring home. REF also own 95% of ozcontacts.com.au, an online contact lens vender which is on the verge of profitability and in my view is in one of the most attractive areas to sell things online (its customers need the item regularly). With the two businesses combined its likely to keep bringing in a trickle of cash and is at a very attractive enterprise value of $5.45m or even better if cash goes over $7m in December which is likely.
The team involved are currently hunting an acquisition (so its essentially a shell) but are VERY picky with 50+ targets reviewed in the last 18 months and turned down. When they do eventually find one it will likely be very good and hopefully one in the contact lens space. Until then ill just be sitting back and raking in the 7.69% dividend yield and seeing cash climb which should eventually be reflected in the share price.
