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Harris L. Berenholz, CFA
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I like analyzing stocks, especially small caps and micro caps. My firm, Carpe Diem Advisors, LLC provides investment ideas, research and analytical services. Before establishing my firm I was (for 18 years) a Managing Director of Invemed Associates LLC, a New York Stock Exchange member firm,... More
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  • I think Altigen ($ATGN) shares are underpriced 2 comments
    Nov 5, 2011 10:34 PM | about stocks: MSFT

    The price of this thinly traded stock has been cut in half in less than a month. I suspect that the reasons relate to the complete liquidation of its entire position by one major institutional owner; tax loss selling; and the absence of announcements.

     

    At its current price, this equity sells at about cash per share and at 40% of sales. This, despite the fact that the company is poised to experience pronounced growth from at least two sources:

     

    iFusion SmartStation  for IPhone

    At the  Macworld 2011 in January, the company introduced (to rave reviews) the first integrated communications docking station for the iPhone . Instead of having separate desktop and mobile phones for employees, iFusion SmartStation enables the iPhone to be deployed as the single converged business communications device. The iPhone is "docked" for power and battery charging and for data synchronization with a connected Mac or PC. Use of this device will save companies money and will provide users with greater flexibility in where and how they work. With some 350 million iPhones in the world, the potential market for the product appears to be enormous.

     

    Software for the Microsoft Unified Communications

    MaxACD technology is a complete, software-based solution that seamlessly integrates with Microsoft’s infrastructure technologies to provide a complete, integrated software-based contact center

    Altigen has announced distributor and Partner agreements with major distributors around the world. Some are already selling product and services; others are in active negotiation with major international customers. The stage is now set for what I think could be dramatic growth. Software and direct sales to large customers (5,000 users) are replacing legacy product sales to VARs and small customers (400 users). As a result, I think that AltiGen is now is in a much better business and competitive position.

    The company is  scheduled to release earnings and host a conference call on November 9th

    Harris L. Berenholz, CFA

    Note: I own ATGN shares

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Comments (2)
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  • realitycheck123
    , contributor
    Comment (1) | Send Message
     
    This company has estranged its channel almost completely. It has dropped key personnel that have all since moved on and joined other entities. The MAX ACD product is nothing to feel comfortable underneath the hood. All of the R&D spending has gone to MAX ACD and MaxMobile Server for Lync and the core MAX ACC and MAX ACM product that has been the source of the majority of sales for this company for years has been ignored. The latest release of MAX ACC and MAX ACM 6.7 is basically a release that complies fixes that were almost 2 years behind. IF these products continued to be ignored and the Lync products continue to be fairly unstable and difficult to deploy in complex situations AltiGen may not be around in 24 months.
    8 Nov 2011, 08:53 AM Reply Like
  • jcmcn5
    , contributor
    Comments (3) | Send Message
     
    What did you think of the call yesterday. I wonder if we were the only one's on it?
    17 Nov 2011, 09:12 AM Reply Like
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