Mispriced securities I came across a news release from a company called RESAAS. The head line is: RESAAS Announces Integration with Local Logic. On June 25, 2020 Urbanimmersive had announced a similar agreement with Local Logic. So I read the press release and a bit about RESAAS.
RESAAS is a technology platform that enables real estate brokerages, franchises and associations to bring real-time communication, new business opportunities and unique data to their agents on a global basis. RESAAS calls itself the World's Largest Real Estate Technology Platform. Tap into the largest network of referrals, leads and new listings.
RESAAS is where over 450,000 REALTORS® find the newest listings, valuable referrals and buyer needs.
RESAAS is exclusively for licensed real estate agents. It is open to all agents from all brokerages and all MLSs.
RESAAS has jumped on the COVID-19 band wagon and are offering Covid-19 test kits to real estate agents. Nice move, but a deviation from their business model.
Comparing their financial statements for the third-quarter ending September 30, 2020, with Urbanimmersive fourth-quarter ending September 30, 2020 reveals the following:
| RESAAS | Third quarter | | Urbanimmersive | Fourth quarter |
| | 2020-09-30 | | | 2020-09-30 |
| Revenues | $126 378 | | Revenues | $1 441 000 |
| Net loss | -$654 024 | | Profit | $317 200 |
| Liquidity | $152 525 | | Liquidity | $1 159 000 |
| Number of shares | 69 320 000 | | Number of shares | 101 400 000 |
| Share price | $0,73 | | Share price | $0,11 |
| Market Cap | $50 603 600 | | Market Cap | $11 154 000 |
Dare I say it... Either RESAAS is grossly mispriced, or Urbanimmersive is grossly mispriced, or both are grossly mispriced or some shareholders are willing to take risks that I am not willing to take.