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The private placement of 600,000 shares was successfully closed yesterday, with ASE approval, at 25 cents a share. Although I can hardly be considered objective, at 25 cents a share, I do believe BCB is greatly undervalued with a market cap of just $9.3 million. That barely reflects the money actually invested in BCB and none of the value that has been created as a result of that investment (unique, patented core technology...robust software applications...growing distribution infrastructure etc.). Certainly, as my last posting illustrated, BCB does not have a problem getting orders. There is strong and continuing demand for our products as is reflected by a sales pipeline of more than $2 million. The issue now is putting flexible, high quality production systems in place that can keep pace with growing demand. In addition, we want to continue expanding our market reach through alliances and effective sales channel development. All of that requires investment in terms of providing training, technical support and marketing programs. The net result should be rapid but profitable growth that, for the forseeable future, is sustainable and manageable. |
