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Microcap & Penny Stocks : Microcap Kitchen Canadian Stocks

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Clark Kent

To: Acton who wrote (48453)	5/17/2018 2:56:24 AM
From: Lessthaniv	1 Recommendation Read Replies (2) of 49402

RE: TNA “All good and understood. But it’s been 5 years now. How long you willing to wait??” Acton, with all due respect I don’t think there is a better comment than the one above to drive home my previous point about impatience and being stock priced focused vs. business focused. Not intending to point fingers here but you asked me a direct question so here is my honest answer. In the 5 years you cite take a look at what has occurred in the business. (In US$); Jan 1, 2014 BV = $3.5m TOT ASSETS = $15.9m TOT DEBT = $12.3m CASH = $1.4m ANN NET REV = $28.3m ANN NET INC =$1.3m SH OUT = 135m Share price was $.01/share Today BV=$16.6m TOT ASSETS = $28.7m TOT DEBT = $12m CASH = $$8.4m unrestricted Q1 NET REV = $10.2m Q1 NET INC = $1.5m SH OUT = 124m Share price today was &.23/share The asset base has roughly doubled while debt has been held constant and unrestricted cash has increased by $7m. These operating results have lifted the company’s equity from $3.5m to $16.6m. Hence, book value has increased 4.75 x in the 5 year period you’ve referred to. The company earned more net income in Q1 2018 than they did in the entire fiscal 2013 calendar year. Additionally, the share count has been reduced improving the per/share math for investors. An investor who allocated $50,000 in capital to TNA at the low of $.01/sh in the beginning of 2014 currently has $1.15m in there account assuming no shares were sold. That’s $50k into $1.15m in 5 years. The intrinsic value of this investment is arguably substantially higher than that. This notion that the stock price hasn’t followed results is simply false. Investors have been handsomely rewarded over the last 5 years. No doubt about it. Here is a chart of the 5 year period you are referring to as a reference. Bottom line - Management has done a fantastic job at rebuilding this business and it’s in the best shape as it’s been in for a long time. So, how long am I willing to wait? ...That almost sounds like I should be disappointed with what has happened thus far.

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