Not sure who is selling, but I bought more on FridayIt is ridiculous this company continues to trade below cash, this company has more going for it than a lot of companies with much richer valuations. Short patience and short memories create opportunities in the market. I find the value compelling here for a few reasons and added 100k more Friday because:
1.) Rob McWirther said on BNN Friday that the company is aiming to sell one XwinSys Onyx system before year end for more than $1M CAD and hopes to sell 3-5 systems next year. These sales will not be to a no name company, they will be to widely known names in the semiconductor fabrication industry. Comparatively, there is OEE.v, also in an interesting high-tech niche, valued at more than twice the value of Eurocontrol here.....and they only have sales on less than $700k last quarter.....one sale of one Onyx system to a semiconductor manufacturer should cause a real awakening to the potential value of this business unit.
2.) The market is growing impatient waiting for SICPA to bring in new customers, but some basic searching shows The Phillipines and Zimbabwe are moving closer to finalizing fuel marking contracts, although we are not certain if SICPA is the provider. Here's a recent update from Zimbabwe this weekend:
Zimbabwe fuel marking concerns in discussed in Sunday Mail
3.) Development of an agricultural analytical system with Netafim should be getting near market, as it is believed they are trying to have the device ready for the next growing season in the norhtern hemisphere (next spring for those of us above the equator). Again, this development ic completely discounted in the share price, although this technology being introduced by a leader in the precision agriculture industry, Netafim, would be revolutionary to the agriculture market and a market leading development that will likely earn a premium valuation once the product is finalized and known to the market.