what could go wrong at these levels?...market cap of...

what could go wrong at these levels?...

market cap of 42m...
sports and welfare lottery games ongoing, with sports betting on the way (although delayed as they were expecting april 2008)
possible national expansion/franchise
cash positive by end of 2008
i sense Richard Li is not mr popular but he is hardly running the gaming show anymore (being run by a new ceo dato lim kim wah recruited from malaysia with hands on experiance)
Big teddy cheng's PRC government contacts are priceless, he owns half the company so would expect his care factor to be high.
Its not clearly stated what percentage comission on sales they get, but doing some calcs on last quaterly would seem they are getting about 9%....which is quite reasonable.
If (more like when) they move to the HK exchange they will be rerated, now might be a good time to get in while everyone here chases IO and coal.
Thinking as a longterm investor, with market cap < 50m the downside must surely be minimal...

Any thoughts??