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Welcome to ONVIA, former internet bubble high-flier. What do they do? See below. Why are they poised to breakout? Technically, the chart has set up a nice base around $5.20 and shares are difficult to come by and volume is low. I can verify that to build my position, it took several days. Accumulation has been strong and we should be working on the next leg up very shortly. Value-wise, the company has only 7.8M shares outstanding and $25M in cash with no debt. That's $3 a share in cash for a $5 stock, valuing the business at only $2 a share. Insiders hold 72% of the company and there has been only insider buying (though in small amounts) on the open market. And the float is tiny... It's true that the company is losing money. But more than 1/3 of that loss was a one time development charge for a their new product (see below) and 20% of that was because they are paying excess rent for unoccupied space in their building (which could go away with a relocation or sublet). But the loss doesn't reflect the recent launch of ONVIA Business Builder, which I feel has significantly higher value than their flagship product, ONVIA Guide, and will begin generating significant sales. Also, look closer at the results - a lot of the most recent loss was due to one-time expenses for development and content for Business Builder. The company has more than 25,000 customers, though this is represents only 10% of what they had in the heady boom years. This is the potential market they can regain. And with Katrina and the devastation in the south, there will certainly be a lot of money being put to work by the government and a lot of companies looking to bid on that work. Good luck and don't say I didn't tell you!! Tom ************************************************************** Onvia tracks more than 50,000 government bids, RFPs, and actionable sales opportunities across 55,500 federal, state, local and education purchasing offices and sends customers information relevant to their businesses in a daily e-mail report called the Onvia Guide. In addition, they just launched the Onvia Business Builder, a much more value-add and comprehensive business resource that: Onvia Business Builder gives you the most in-depth, comprehensive business-to-government intelligence available. For businesses that do business with the government, it’s an absolutely indispensable tool. Onvia Business Builder focuses on four key hubs of information that are central to every government opportunity: Owner Research — Access our complete procurement archive for 55,500 government agencies and learn from previous purchases and patterns. Buyer Research — Get key information on every buyer, so you can identify significant buying patterns and opportunities. Vendor Research — See where your competition has succeeded and failed in selling to the public sector — and why. Project History — See the entire lifecycle of a project with all the important details. Designed with an easy-to-use format, Onvia Business Builder delivers a high volume of information in a well-organized and manageable way. You get access to years of information and data that would be impossible to gather on your own. Over 2 million procurement records Across 55,500 agencies Representing 194,000 buyers Connecting to over 100,000 companies | ||||||||||||||
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