Gerald -
Responding to your earlier post that "Wall Street sleeps", I honestly think that it is either (or both) that Wall Street doesn't care, or that it is just blissfully ignorant. PJ is such a tiny company, and MHTX is still a dream until proven otherwise, that noone cares.
As to PJ's book value, again, while a good exercise to calculate, as you know, the bottom line is revenue growth and earnings. Until PJ demonstrates both of those, they will continue to languish.
Don't get me wrong, I'm still bullish on PJ's prospects. This is going to be a very important year for the company.
If you remember the report that I wrote on them last April, I said that they would have around 20 million shares by the end of the year. That turned out to be fairly accurate. Unfortunately, my "speculative buy" turned out to be a little too optimistic, as did all of the sales projections. I think that this year they will probably have closer to 30 million shares outstanding. That will obviously impact EPS. Fortunately, their revenues will be much stronger. They will have to show strong, sequential, quarterly growth to be taken seriously.
I hope to be able to find out more about their fuel cell technology in the coming months. I'll let you know what I come up with. Keep working.
Greg |
