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Friday, October 28, 2005

more for the "Worth Following" list

HOOB, Holobeam. Real estate and surgical staples. I believe I've looked at this business before, unless there are two companies dealing with real estate and surgical staples. They earn a pretty solid 60 cents a share. An OK balance sheet. Cash flow from ops is good. 2005 looks as good or better than 2004. It's selling for $41 per share which probably means that they have hidden value in the balance sheet.
possibly worth looking into further, but unlikely to be all that cheap

HYDI, polymer R&D for medical, commercial, cosmetics, and vet use. They license to 9 companies.

Solid balance sheet. Steady revenues. High gross margins (of course). Very low net margins. Some stock options. Earned 6 cents in 2005 (5 cents in 2004). Cash flow looks good.

So maybe they're worth 90 cents. They're selling for $1.15.

HWWI, A French company making breast implants and other implants(?). First to market with saline implants. Revenues increased over 15% in 2005. Gross margins are over 50%. Earned $881K in 2005 (lost a masive amount of money in 2004, looks like a doubtful account). Earned 5 cents for the year. Cash flow is ok.

Balance sheet is ok, but not much equity. So it might be worth 75 cents, maybe more. Selling for 80 cents.

MNRD, interesting, but they have 28 million shares priced at $1.80 for a
market cap of $50 million. Their annual revenues are only $8 million. So
the price already assumes a great deal of success.

DYSL, might be interesting

HRBN, they have amazingly high profit margins looking at the numbers in the latest quarter. Balance sheet is very PP&E heavy, but almost no liabilities. Cash flow isn't so great, but it's hard to tell with the weird ramping up in such little time. Oh goodie, another Chinese reverse merger. A linear motor company. Earned 17 cents in Q2. Maybe it's worth $1.80. It's selling for $4.60.

DWVS, The stock is probably priced about right, but I'll probably look into it some

DYHP, Not too interesting, but they're growing fast and I'm not sure what they're
worth yet.

DTGLF, not profitable lately, maybe worth 15 cents, selling for 21 cents.

FAME, seems like a good business, but it's selling for about what it's worth.

GACF, Reasonable company in the airplane repair business, rapidly growing, but
priced about right for its current business level.

GBEL, Real estate business, priced about right.

GARM, Struggling recycle business that could be a wildcard.

DAAT is good.
DAOU passes because they made money in 2003.
DDSI is not good because current liabilities are greater than total assets AND
there are no earnings in the annual AND there are no earnings in the most
recent quarter.
DEWY is good.
DFNS is good.

DNII, The company is a mess, but not that much of a mess. I can't tell what price
it's trading at, but it might be cheap (it's listed at 5 shares for a penny
in the database) but they did a 510-for-1 reverse merger so they could go
dark (I know you don't know what that means, but it's for my notes).

DSCI, Seems priced about right, but I need to look more carefully

DYNR, a mine, but possibly selling cheap. 2004 earnings of 9 cents diluted, stock is at 25 cents.

DRUG, This one is complicated and it's difficult to tell much about it. It could
end up as an investment, but it might not be cheap enough. A quick check
puts it as being worth $1.20 and it's selling for 82 cents.

EBHC: hey, it's Eddie Bauer!

EPLN, Solid business, but the price isn't cheap. I'll be picking it apart later.

ERIF, Another fairly good company which is not selling cheap. I'll look at this in
more detail later.

ERIF, has good disclosure and provides good visibility into their operations over the years. They clearly don't have a Warren Buffett at the helm or else they'd be making a lot more money. Their investment results are not very good (not terrible).

EZEN, don't remember but I think it's worth following

EVDR, just finished an audit in mid-July and should be releasing the results
some time soon, once the SEC approves it. I checked the SEC website and
their submissed was made Sept 14, 2005, but it was in paper form so I can't
read it. They had "planned" to be registered in Q1 of 2005 but apparently
that didn't work out.

Need to sift through these:
DNII, a mess, but maybe still ok. no clear trading prices.

ERMS, not very stable, but cheap.
ETEC, suspicious lack of operational cash flow, but might be ok.
EVDR, scooter company. expecting release of audited results soon.

FATS, revenues up, earnings down, stock overpriced.

GBCS, casino
GBEL, real estate business, priced about right
GARM, struggling recycle business that could be a wildcard.
GECO, minor league hockey, overpriced

Check back on Carnegie Cooke and Company (CGKY), they should have financial results by mid-sept latest. UPDATE: Nothing by Oct 7.

CTIG, no details

Eat at Joes (JOES) (Philidelphia single restaurant). Selling for $1million market cap. Crossed over cash flow break even. Doing better. Still a big long shot.

RZPK is a pachinko strategy company (that's pretty funny). Worth looking at if they start auditing their results.

MLTO, With all that manure, maybe there's a pony in there somewhere
MOBK (no financial details yet)
MRFD (improving?)


SMID, Smith Midland Corp is fully priced, but maybe not depending on growth.

SPOP is interesting. Natural food stuff. At break even. Selling for .6 times sales.

SPSC: What's up with these guys? Can't tell easily.

SCIE: medical mousetrap, laser cancer detection, just started revenues

SCSG: yet another bank.

SOTK is growing and profitable but overpriced?

SPND: oil and gas producer is priced about right.

other Chinese reverse mergers:
TBV might be cheap.
KMGB might be priced about right.
SZI is a money loser
TLF is probably priced about right
DXPE is probably priced about right (they're on NASDAQ)

I'm trying to clean up my notes and get a lot of the low priority stuff off the list so I can focus on the important stuff.
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