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  • Core Molding Technologies: Valuation And Analysis [View article]
    Here's my own perspective on CMT:

    http://bit.ly/S55vfN

    Lots of potential value, but the NAV situation is worrisome...
    Aug 31 09:20 AM | Likes Like |Link to Comment
  • RINO International: Undervalued Chinese Company on the Surface [View article]
    I don't have a position or opinion myself, but here is a great writeup on BYDDF:

    baskervillecapital.com.../
    Jan 24 12:58 PM | Likes Like |Link to Comment
  • New Frontier Media Remains Too Cheap to Ignore [View article]
    Robin,

    The business is showing early signs of stabilizing now that all of the asset impairments are out of the way and CROIC was still above 20% in 2010. The market is pricing in -15% cash flow growth to justify the current price - I just don't see this happening unless they totally blow up a major TV contract.

    The producer-for-hire arrangement hasn't done very much but the international growth looks promising.

    As things continue to stabilize, management has shown a propensity to return cash to shareholders with strong special dividends or share repurchases.

    Stock remains too cheap to ignore, even if the long-term (5-10 yr) view is unfavorable.
    Jan 23 10:47 AM | Likes Like |Link to Comment
  • AML Communications: A Low Price for High-Tech [View article]
    Robin,

    No real news since the article was published. I feel the stock remains cheap based on current production levels - picking up 1 or 2 of these new defense contracts should be the catalyst for taking the stock up to the next level. However, the defense procurement process is notoriously complex, so it'll be interesting to watch the company's progress.
    Jan 23 10:32 AM | Likes Like |Link to Comment
  • RINO International: Undervalued Chinese Company on the Surface [View article]
    Hedged In,

    Appreciate the vote of confidence. Investing (especially in a place like China) can be a tough field. I always hope that other investors will perform their own due diligence and make their own decisions before putting their hard-earned money to work.
    Jan 23 10:28 AM | Likes Like |Link to Comment
  • Gaming Partners: A Value Bet on Casino Chips [View article]
    buffettville,

    Keep in mind that chips are a repeat sale - they eventually wear out or change designs, requiring the purchase of replacement chips:

    From the 10-k:

    "Most often a casino will order all of its gaming chips, including replacement chips, from a single supplier. Accordingly, we strive to become the original chip supplier to a casino upon its opening, thereby enhancing our position to receive additional sales when the casino places replacement orders. "

    So while new casino openings provide an initial boost, GPIC tends to retain this relationship for future purchases. That's why picking up all 9 new casinos in PA was impressive.

    The company has sold several million RFID chips - while I don't have the total number of chips out there (anyone have these statistics?), it appears that GPIC is in great position to capture the benefits as casinos upgrade to the new technology.
    Jan 12 10:01 AM | Likes Like |Link to Comment
  • TechPrecision Simplifies Capital Structure With Manufacturing Facility Purchase [View article]
    TCPS.PK or Technoconcepts is a completely different company.

    Techprecision (TPCS.OB) is here:
    messages.finance.yahoo...
    Jan 9 11:07 AM | Likes Like |Link to Comment
  • RINO International: Undervalued Chinese Company on the Surface [View article]
    bilgewash,

    No opinion really, I never ended up investing and I'm glad I didn't. It appears that the company is having all kinds of problems - whatever the outcome, there are probably easier investing decisions to go after.
    Jan 8 01:31 PM | Likes Like |Link to Comment
  • Gaming Partners: A Value Bet on Casino Chips [View article]
    buffettville,

    GPIC was granted the exclusive right to sell RFID chips in Jan 2006 so it has been several years. The company doesn't break out the sales breakdown between the various chip types.

    The big increases will be driven by new casino openings, not only in the U.S. but across the world - it doesn't matter as much whether these will be RFID chips or regular chips, GPIC will benefit.

    I think the new sales channel with IGT should be extremely beneficial as well.
    Jan 8 10:12 AM | Likes Like |Link to Comment
  • New Frontier Media Remains Too Cheap to Ignore [View article]
    The stock is heavily owned by other institutions including FMR LLC, Intana Management, Royce & Associates, Robeco Investment Management, and Renaissance (all from last year's proxy)

    A new institutional investor is a good sign.
    Dec 31 02:19 PM | Likes Like |Link to Comment
  • Jewett-Cameron: Undervalued and Under the Radar [View article]
    Thanks for the comment. I never took a position as the stock didn't fall quite far enough to have a comfortable margin of safety. The stock is up 30% since my article - oh well.
    Dec 31 02:17 PM | Likes Like |Link to Comment
  • Gaming Partners: A Value Bet on Casino Chips [View article]
    Hester,

    Right now, they have a patent that gives them exclusive access to sell RFID chips in the U.S. until 2015. I did some searching around on some of their U.S. competitors and came away less than impressed:

    U.S. Playing Card Company:
    www.usplayingcard.com/...
    Can't find casino chips on their website.

    Gemaco:
    gemacocasinocards.com/...
    Doesn't appear to be nearly the quality to me..

    I found another public company based in Asia that currently sells RFID chips there: Entertainment Gaming Asia, INC (EGT)

    Their financial results are not pretty:
    www.google.com/finance...

    GPIC seems far and away the leader in chip design at least in the U.S. and is growing rapidly in Asia. For the latest full year (2009), 45% of orders comes from the U.S. while 41% was from Asia.

    I think they will monopolize the new casino business in the U.S. for the foreseeable future, as evidenced by getting orders from all 9 recent Pennsylvania openings.

    After 2015 it could be a different story but the stock has some room to appreciate over the next few years.
    Dec 20 10:00 PM | Likes Like |Link to Comment
  • Gaming Partners: A Value Bet on Casino Chips [View article]
    Ruba,

    To be conservative, I'm calculating net cash as follows:

    Cash & Equivalents + Marketable Securities - Total Liabilities = Net Cash

    From the latest 10-Q:

    $6.051 + $16.454 - $9.924 = $12.581 / 8.199 shrs = $1.53 in net cash

    If you only consider debt, then you are correct that the company holds approx. $2.75 cash/shr.

    It is also important to keep in mind that $15.6m of this cash balance is held by the company's foreign subsidiary, GPI SAS. Permanently transferring this cash balance to the U.S. will be difficult.
    Dec 17 08:27 AM | Likes Like |Link to Comment
  • Gaming Partners: A Value Bet on Casino Chips [View article]
    From someone who has been told Vegas a bunch of times, I think Vegas will be fine. It truly is an 'experience' more than just a gambling destination - the food, the shows, the shopping, etc.

    While they might lose a few weekend gamblers who decide to check out the local casino, I think the big players will continue to frequent Vegas.

    There really isn't anyplace even close (at least in the U.S.) - the entire town is setup to support it.
    Dec 15 11:37 AM | Likes Like |Link to Comment
  • Gaming Partners: A Value Bet on Casino Chips [View article]
    It is a common problem among many of these microcap stocks. I think the website overhaul is a great step in the right direction for presenting the company as a worldwide leader in their market.
    Dec 15 09:06 AM | 1 Like Like |Link to Comment
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