Going concernThe way I see it is that the argument of management not being great is we're frustrated with the share price and our returns, but since the current team took over in 2012, the stock has fared pretty well.
The company is in great financial position. $7.5M in cash and only 800K in LT debt. Very liquid and solvent, and the company is profitable as they invest in new potential growth products. In my view, Ceapro has plenty of upside potential and not a lot of risk.
It is undervalued if any of the growth projects get off the ground. If they don't, the base business is still doing well, not great but well.
Be patient, this will turn around