IXC.U on TSX-V exchange if you trade Canadian stocks..
I'm not a penny stock guy but this one is way undervalued. It's trading at 5 cents (US) a share and a market cap of under a million dollars. They just released 2nd quarter numbers and revenue was up 21 percent and made a small net profit after a number of quarters of small losses. Virtually no volume and a large spread in the bid and ask make it a tough one to buy but if you can get some and hold them for half a year you should have a 3 or 4 bagger minimum. Plus they are a fully reporting company. No pink sheet funny business. The CEO owns over half of the outstanding shares too.
Earnings from 'continued operations' would have been about 1/2 a cent a share if not brought down by 'dicontinued operations' attributed to the closing (almost) and losses of the Colorado Springs facility. At that half a cent, if they can continue at this pace which I believe is very possible (I actually think that they can easily earn 1 cent a quarter) that would put the current share price at a 1 to 2.5X PE ratio.
It appears they received orders from a major customer/ military supplier that is being filled in July and August (third quarter)in the Colorado facility delaying it's shutdown. I'm assuming the company believes this will be financially advantageous otherwise they would fill the order in Arvada , although since it's only about an hour and a half away I'm not sure for the rationale behind this.
At June 30, 2007, the company had cash of $228,000, total working capital of $409,000, a note payable and capital lease obligation totaling $70,000. And this is for a company with a market cap of less than $1 million dollars that has just turned profitable and can potentially make in my opinion easily $500,000 a year in profit once everything is consolidated. It seems like a no brainer.
Lack of news releases (the company basically doesn't release any news anymore other than their SEDAR filings) probably isn't helping the total lack of interest in this story, added to the fact that the market likes expansion not consolidation probably is the main reason the stock is trading where it is. In my opinion it should be trading at a minumum of 20 cents right now and once 3rd quarter results are released in November with another profit of half a cent to a full cent in profit hopefully the stock will more accurately reflect where it should be trading. I'm hoping the company will begin actually PRing its earnings once it becomes more apparent that the company can be quite profitable.