I just scooped up the 3 sellers at 1.6 (without tipping over a...

I just scooped up the 3 sellers at 1.6 (without tipping over a new bid/ask).

Remember when we had the lowest point in the markets due to COVID around March/April 2020.. SHE was still priced about 30% HIGHER than its cash/liquid assets balance at the time (even though it made only $50k in that quarter, and a $0.4m loss for the trailing 12 months)

Today I bought at about 20% discount to current liquid asset balance. That's a 50% discount to the most constrained market valuation period at the height of the pandemic.

Remember, SHE isn't stuck with nasty contingent liabilities, large capex budgets to hide high decline rates, or sneaky make-good provisions like most small cap oil stocks, all of which usually explain the deceptive sub 5x PE's that we often see.