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Ian Cassel

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  • The Food Tech Revolution [View article]
    Exactly, that is what I was saying. If it trades 50,000 shares they can sell 5,000, if it trades 500,000 they can sell 50,000. It's not a limiting factor on the stock price. In the end I don't mind it because it at least provides liquidity to the stock. I think it's very fair for both sides and keeps an orderly market. I don't know if they will be paid back or not, and that is why I doubled the OS.
    Apr 15 09:21 AM | Likes Like |Link to Comment
  • The Food Tech Revolution [View article]
    As I said in my response, yes they can, it's a note, so they can pay it back, but the note holders have been there for several years. I'm sure they are in good standing with them, and the current situation isn't a bad one. The note holders are locked down and under leak out, they can't be more than 10% of the daily volume, so there is no ceiling on the stock.
    Apr 15 08:41 AM | Likes Like |Link to Comment
  • The Food Tech Revolution [View article]
    The debt is very manageable, company produced $500k in cash in Q4 and rising. The convertible note holders are locked down. They can't own more than 9.9% of the company, they can only convert-sell 10% of the daily volume, so it's very manageable. Look at Page 11 in their 10K. However, one would assume that some or all of this note could/would be paid back (limiting dilution). That said, I've doubled the outstanding shares in my estimates, which is why I used $20m market cap in this writeup and not $10m.
    Apr 14 09:58 PM | Likes Like |Link to Comment
  • The Food Tech Revolution [View article]
    Thanks Tom. I've made decent money in situations like this where a well run microcap is trading at a fraction of other companies in the same peer group. Similar to the disconnect I wrote about 18 months ago with VTNR and HCCI. Now institutions are starting to pile into VTNR and the gap is closing. The fully valued institutionally endorsed names stay where they are or pull back in a bit while the company no one knew about goes up.
    Apr 14 07:42 PM | Likes Like |Link to Comment
  • The Canadian Small Cap Equity Markets Are In Crisis [View article]
    Yeah it doesn't help that 30% of the TSXV has less than $100,000 of cash in the bank. A much overlooked area are is the non-resource microcaps in Canada which have been doing extremely well.
    Feb 21 08:20 AM | Likes Like |Link to Comment
  • FitLife Is Very Cheap, But Probably Not For Long [View article]
    Good article Igor. Here is a presentation with management we did on MicroCapClub about a month ago for anyone interested: http://bit.ly/1dUcm07
    Feb 15 03:49 PM | Likes Like |Link to Comment
  • Innovative Food Holdings: The Little Company In The Middle Of The Specialty Food Phenomenon [View article]
    They have been more consistently profitable than meets the eye, you just have to back out the non-cash charges they take because of the notes. Easier to just look at the operating income in their case since they won't be paying taxes for a while. But your conclusion is correct, the earnings have been masked (looks worse than what it is) which has helped to keep the story under the radar.
    Feb 9 05:28 PM | Likes Like |Link to Comment
  • Innovative Food Holdings: The Little Company In The Middle Of The Specialty Food Phenomenon [View article]
    Nice writeup John. You laid out the thesis very well.
    Feb 9 07:33 AM | Likes Like |Link to Comment
  • Tel-Instrument Electronics Corp: A Recipe For A Double [View article]
    Been following this one on MicroCapClub for some time. An interesting story, thanks for the writeup.
    Feb 9 07:32 AM | Likes Like |Link to Comment
  • The Next Big Trend In Food: Auditing The Food Supply [View article]
    Just got to pick your spots as the stock is very illiquid.
    Feb 7 03:28 PM | Likes Like |Link to Comment
  • The Next Big Trend In Food: Auditing The Food Supply [View article]
    First institutional filer 13G
    http://1.usa.gov/1fFjQ9A
    Feb 7 03:27 PM | Likes Like |Link to Comment
  • The Next Big Trend In Food: Auditing The Food Supply [View article]
    answered above, also I don't receive any compensation from SA as I elect to defer it.
    Feb 7 02:38 PM | 1 Like Like |Link to Comment
  • The Next Big Trend In Food: Auditing The Food Supply [View article]
    Thanks Green for the comment. Yeah we do a contest every year to see who the best stock picker is. I asked a couple companies I like to see if they want to sponsor it as well as a couple microcap focused funds, including Perritt probably the most well respected one in the United States. All proceeds go to the winner. Myself, MicroCapClub, nor anyone makes anything off the contest. All goes to the winner. Thanks for asking.
    Feb 7 02:38 PM | Likes Like |Link to Comment
  • The Next Big Trend In Food: Auditing The Food Supply [View article]
    delayed? They have until end of March.
    Feb 6 10:10 AM | Likes Like |Link to Comment
  • The Next Big Trend In Food: Auditing The Food Supply [View article]
    I think around Q1 2014 results (Mid May), we'll start to see the growth kick in.
    Feb 6 09:14 AM | 1 Like Like |Link to Comment
COMMENTS STATS
192 Comments
114 Likes