Quarters Starting To Trend Up....Bottom In.Did some research here over the weekend and here are my findings:
1) Debt crunch extended to March 2018 and it looks like that hurdle is now past them as they have done a great job in the past year reducing costs while growing revenue.
2) Returned to profitability in Q3 and Q4 looks like it'll easily exceed Q3 based on big contracts just signed.
3) Middle East a big customer and as goes oil as goes their business. Trend up in oil likely leading the way for their profitability......"Management continues to work on potential new contracts and is looking to capitalize on the economic improvement that is now becoming apparent in the Middle East as oil prices stabilize".
4) Becoming less dependent on Egypt as Egypt experiencing extremely high inflation. Good to be shifting focus from there. (Egypt had lowest rev for past quarter as compared to other 3 main countries (Saudi Arabia, Kuwait, Omen.
5) No warrants outstanding to provide resistance.
6) In Q4 2016 they had revenue of only 600K. Looks like Q4 2017 will be near their highest in the past 8 quarters. I estimate in or around 4mil which should drive another positive quarter in or around 400K profit.
7)Q4 likely more of the norm going forward and slap a 5 multiple on an annualized 4th quarter and we come out to 8M......Right now NCI trades at a market cap of 3M.