I'm considering an investment in PNJA. I've known about them for some time, but it wasn't until recently that I actually started considering them as an investment.
I have one house in Europe and one in the US, and I've been looking at home theater, automation, Internet access and control, and security integration for both homes. Since I'm very comfortable doing my own integration and software development, and since we live most of the time in the US, I thought I'd do my own integration here and use the experience to determine what we should do for the house in Europe.
Generally, I like to go all the way when I do things, so I decided to integrate and automate everything from all A/V equipment to lighting, blinds, phone system etc. I spoke to a number of companies who recommended AMX or PHAST. Well, since they were dealers, and since the hardware for these systems seemed way overpriced, I opted for a combination of X-10, infrared distribution, ethernet, wireless networking, digital/analog inputs, pad style computers, and relays. In fact, in the US, this is what I'm now building using the JDS Stargate system as a central hub. Based on what I've learned in the process however, I will likely be installing an AMX/PHAST system in Europe.
It's not that systems based on the technologies I listed won't work. In fact, any system, including AMX/PHAST, will likely use a combination of many of those technologies. The problem is that I haven't found a solution as complete as AMX/PHAST with all of the Internet integration that won't require a LOT of work on my (or someone's) part to build and integrate things that, as far as I can tell, have not been done before in any general way.
Panja seems to have the best completely integrated solution as far as I can tell. I still believe that the solutions are out of reach, financially, for most people to retrofit, but the company seems to be in a position to be very successful, and they look like they're executing properly. I believe that they will get a lot of revenue from a growing trend towards automation and home theater in new homes and an increasing desire to integrate the Internet and broadband services into that space. I also believe that as wireless networking w/multimedia support (like sharewave), 1394b, phone line networking, and other technologies come into their own, retrofitting will become more affordable. Panja has the experience, a complete product line, the software, and an ability to compete as this market takes off.
As far as things taking 10 years as someone said earlier, I disagree. I see many products coming on line in the next year that will make seamless integration much simpler and affordable. Of course, it will be the services that are available through the Internet to and for these integrated systems that will create ultimate demand and critical mass. To me, that means that it will be recognized by the masses within the year, and it will grow into a massive money making market in 2-3 years. At 220 million market cap, Panja looks like they're in a great position to capitalize on and prosper from that growth.
So this, combined with basic fundamental analysis is why I'm considering an investment. From a technical standpoint, it looks like we've had quite a run, and the stochastics are approaching overbought. I may wait for a little consolidation before pulling the trigger. In any case, I'm not in a big hurry to buy, but I may get a few shares this week or next.
Oh, and montecristo #2, I know you're looking for more posters, but I tend to post very rarely (sorry). I'm pretty swamped at work, and I don't often find the time to formulate posts that seem worthwhile.
Good luck,
Mike |
