I've just done a full analysis on these puppies and pressed the...

I've just done a full analysis on these puppies and pressed the trigger........On balance, I think this microcap is worth a shot....given the upside and downside risks....

I've looked at every report going back to 06 and matched the cashflow as Clag succinctly suggests...With a microcap like this, share price appreciation may be meagre, but divvies will be enough.....it will take time for the share to go beyond a daytrader following

The earnings of this company are 'real'.....and it actually earns a lot of money especially for $9 million market cap....It actually does not have a capital intensive business model so high divvies and continued growth will be a cinch if they continue to execute well

As for the cashflow....notice in the earlier years, company finance was given by the 85% holder parent company....now they've got a $22 million credit line with St George....that actually says a lot

On cashflow, the profits are genuine 'operational cashflows'.......but cause TTA is still expanding majorly......'last years cashflows' have usually exited the business to buy next years expanded inventory....and TTA is still awaiting payment on much at high levels (trade, receivables)

What's interesting....is that as the business becomes richer........they are still using the businesses entire 'working capital' and even debt!!!!!!! to buy inventory!!!!!

This is a risky expansionist strategy in my opinion......but check out what is does for the business.....Inventory is massive going into this Christmas........They have effectively gone "all in" for this Christmas

Throw away the perceptions of a 7 cent company......this high risk/expansion strategy is consistent with a 85% owner parent that knows what they are doing....

Christmas has been a much better trade than last year....Aussie dollar is very high buying more Chinese components

The profit from next half could be awesome thus allowing them to 'derisk' the business and pay divvies.....cause right now they are 'betting the whole thing' on each retail season!!!!! but the valuation is just criminally cheap