Our seller has a sense of the dramatic, and he would have loved the double tick sell today. We now have a market cap of $7.1m, cash of $5m, an unused credit facility of $18m, the latter of which- combined with contracts- can double the size of the company, according to TSN's ANN. We have an NTA of 1c, and a share price of .004. Our new contract of 100 machines means we met the company goal of 1000 machines- and that ANN only came out a month ago.
There's a lot to like about this company, but a lot to dislike about the seller. He's been doing it for years, though, so it is just expected behaviour- same schtick each time, so it's easy to read the pattern.
shane, this share is fairly lightly traded, so the amount of shares on issue isn't really a concern. If one looks at market depth, it's not like there's massive shares for sale or buyers lined up- it's just a slow slow little company- except for when the seller goes bananas like today. Market depth:
http://cb.iguana2.com/netwealth2/depth/tsn
TSN Price at posting:
0.4¢ Sentiment: None Disclosure: Held
