You guys are acting like the ERP business is terrible, but if it...

You guys are acting like the ERP business is terrible, but if it wasn't for JCS Asia and Riyo, they would be making a healthy and steadily growing profit here with increasing profit margins. In 2016 ERP did $5.3 million in revenue and $100k in EBIT, and in 2019 they did $9.8 million in revenue and almost $2.2 million in EBIT. All organic growth! On top of that they can go after bigger clients now and have lower churn.

See note 2 of annual report for different segments.

And TEMS seems to have stabilized.

If it wasn't for their adventures into Asia and Riyo, this company would make $1m in net profit. On a $11m market cap with no debt. With profit margins going up much faster than revenue from here on out. To a larger company who can absorb $3m in operating profit from their 2 largest segments, this company is probably worth at least $20m right now.

If anything JCS Asia and Riyo are quite risky. New unproven apps, vs their steady ERP business that has been constantly increasing profit margins.