I'm beginning to think that this could be a very good move for MAQ:
- BPF has a market cap is only $11m. Even if MAQ paid say 8 cents, that would still be less than $15m, which with their cash pile MAQ can easily afford.
- Last year BPF made a loss, but mainly because they wrote off $1.4m of goodwill and $4.3m in software and product development. These two items are both non-cash and non-repeatable.
- BPF have a quality set of customers, which MAQ will hopefully be able to leverage off.
All in all - I like it, "bargain basement buy for MAQ".
Interested to see how much the market agrees with me on Wednesday.
K
MAQ Price at posting:
$14.10 Sentiment: Buy Disclosure: Held
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