Hi Kit. (My son is also named 'Kit'.)
LENP, as a publicly traded company, is Canadian at the moment. They are based in Port Huron, Michigan. I believe they'll be moving to the NASDAQ as soon as they can.
I don't have the founding year of the company in my information. They have been around at least since 1992 -- that's the earliest mention I have in my materials. I'll find out the exact year they were founded. Similarly I don't know how long they've been public. Once again, at least since 1992, it appears. I've probably been told this information but didn't make a note of it.
The stock price hit a high of nearly Can$5/share last year in May. I don't have complete info on prices, but I do show a low of about Can$1/share in early November 1994.
No major brokerage firm follows it. I heard about it from one of my brokers, my favorite one, who learned about it from a company he deals with. That company is called CTC. My broker is Joe Peters, 800-624-9466 and works for RJ Steichen. He's as honest as the day is long, and very careful. He's even turned some people down who wanted to buy LENP because he thought they had too much in high risk investments already.
They project profitability for the year. Their FY ends, if I recall correctly, August 31. So, their 3rd quarter should be reported in the next few weeks. I project the 3rd quarter was profitable. Sales are increasing steadily according to the latest press release (June 25). Here are the numbers for recent quarters:
Sales for FY95: $100,000. (That's the full year.)
Q1 '96: $ 95,000
Q2 '96: $126,000
Earnings for the 6 months '96: loss of $23,000 or $.006/share.
(Yes, less than a penny/share loss.)
For the comparable 6 months '95: loss of $185,000 on No sales. (That's a loss of about $.05/share.)
Another thing I like about this company is that their operation is so *incredibly* lean. They have had positive cash flow in both Q1 and Q2 of '96, and their break even point for positive cash flow is about $105,000 in sales/quarter.
I'll post the founding dates when I find them, probably next week. Or, anyone else who may be following this company and this thread can chime in. I'll be out of town till next week.
Regards,
-DT
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