- MACE is now at an inflection point after a multi-year turnaround under the stewardship of activist investors.
- Balance sheet has been cleaned up, operations have been consolidated, and all non-core businesses have been divested. Company now poised to enter growth phase.
- Positive secular demand trends for MACE products: demilitarized police and improved school security.
- Attractive underlying business economics and profit potential. Hidden value associated with the brand name and NOL’s.
- Likely “up or out” conclusion for shareholders. Company either grows rapidly or is sold. Estimated intrinsic value is $0.70 per share.