You can use the broker platform Comsec to get your initial company search. I just did one with say market cap under 20 million and say pe ratio under 10.It came up with 70 companies I then list and take out all mining. Looks like roughly 32 are non-mining. I then quickly key in each one to see liquidity so I can narrow down. For instance one just popped up EBG never looked at it before but no liquidity. Your list might be say 20 and then you can have a quick look at the last profit result and you might narrow down to say 10.When you have quickly narrowed down you then do the more detailed work on profits, balance sheet, directors etc. The work is manual and if you get more serious about what you see you might go into directors and their holdings and prices paid. For instance what the directors paid will motivate them as well as you. On top of this list you also pick up on other companies that might be just starting and have no profits that someone may mention. Examples like SHP CL8 or ALA that may offer something in the future. Keep a watch list of all of these companies and then as you build up information you can review if the price drops to see if worth buying. It’s more about building up a watchlist and once you do it the first time when you do your next scan you might only have 1 or 2 companies that are new to look at. I probably do 50/50 where some of the companies are more of a calculated spec where the company is close to cash flow positive or appears to be doing good things the others are more traditional that price has been affected by some event.
