Well I really can't believe that this stock is back at 12 cents ... just look at the value
As an example of the value, look at the book price per share and the share price over the last couple of years
June 2004 ... Book price 11 cents per share June 2005 ... Book price 13 cents per share June 2006 ... Book price 13 cents per share
June 2004 ... Share price 45 cents per share June 2005 ... Share price 31 cents per share June 2006 ... Share price 10 cents per share !!!!!
It peaked at 93 cents per share back in Nov 2004
So what has happened ? The turnover has increased from $23M to $28M in the same period!
Well a couple of years of higher profits meant that all the speculators bought like crazy ... then when the profits were lower they dumped like crazy
The directors own 50% of the shares ... it is in their interests to get this company making good profits again. All the company reports seem to indicate that this is a well run company.
And what shares are left for sale ... 6,000 at 13 cents, 20,000 at 13.5 cents then nothing till 17 cents
I would buy some more except my wife won't let me ;)
disclaimer: I do own shares in COS claimer: I'm not selling till they get to 40 cents (Average earnings per share is 2.5 cents for the last 4 years)
COS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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