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Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes
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To: TARIQ STOCKS who wrote (16125)5/9/1998 12:02:00 AM
From: Jerry S.  Read Replies (1) of 34592
 
Undervalued stocks? - I'll give you one - TGSK (watercraft, marine products distributor)

TGSK Investors have discovered a band of MMs on this one that are in Jersey City and most are in the same building! May have been working in collusion to yo-yo price and short the hell out of it over last month. A reputable MM arrived on scene yesterday, supporting the price and now we believe the shorts are getting ready to run for cover.

TGSK currently priced at: p/e of 4 (@my 98 proj .40 eps); 3 x BV per share; 0.5 mkt cap x sales. SEC reporting within 90 days; recently secured straight $8M line of credit at prime +2

7.2M o/s, 2.2M float

UNDERVALUED, wouldn't you say? Reasons:

1) Became public in Jan 98 thru reverse merger, not widely known.

2) Majority of business in Mexico, misunderstood market, very lucrative however and NAFTA enhances business, expanding into Central America and U.S. (this is a U.S. company)

3) MMs manipulation of volume and price has scared potential investors (this is changing however)

We also believe there is a HUGE current SHORT position by MMs due to Level II analysis of trades and unrealistic volume relative to float over last few weeks (except for last 2 days, volume 1/2 of usual for that time period yet strong price movement). Look for frenzied covering if price shows continued strength. Avg. P/E for this business sector is 25; would translate to $10 fairly valued.

Check out TGSK SI thread at techstocks.com

and YAHOO thread at messages.yahoo.com@m2.yahoo.com&type=date&first=1
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