MEH Quarter... I wish someone would acquire Biosyent....I just took some time to read the financial statements, MD&A and AIF that were released in conjunction with the quarter. I guess my net impression was MEH....
The current share price is a pretty fair value for where the company is at.
If we are going to grind along at this pace, I wish that Rene and the complicit board would just arrange an LBO, pay us 10-11x FTM EBTIDA ($10-$11/share) and let us move on. It has been like watching paint dry for quite a while now. With >25% of the market cap in cash ($27.7M) and tepid growth but good profitability, he could leverage up the company and take it private.
One new thing I did learn is that we, as shareholders, are funding management's purchase of company shares with loans to themselves that have an annual interest rate of 1% (NOTE 11 / Loans Receivable). These loans have been in place since 2017 and will continue in affect until at least 2027. I would like to have a 1% loan too, where can I get my loan? Also, the financial statements refer to "MSLP" but the abbreviation isn't actually spelled out anywhere.
LETS ACTUALLY DO SOMETHING IF WE ARE GOING CONTINUE ON!!!!!