MRY Grossly Undervalued! - GekGoOK, lets look at the numbers from another angle:
In both of the last 2 years, MRY revenues have grown at just over 50%. Using this, this years revenue would be projected at just over $7. However, being pessimistic, let's say that their growth rate is only 1/2 of previous two years, so 25%. This would give roughly $6 M in revenues.
On the expense side, MRY has been at about $5.2 M for both of the last two years. This should decrease due to less development, but to be conservative I'll use $5.2 M
So Profit will be $6M - $5.2M = $800 K or about 3 cents per share. Using a P/E of 25 for a company growing at 25% (PEG=1) would give a share price of $0.75.
The numbers I used would relate to about $1.5M rev per Q and $1.3M expenses. The 1Q numbers came in at about $1.2M rev and 1.2M expenses for a profit of only about $13K. However, the 1Q is typically weakest, and with the anticipated SITA activity, revs should pick-up. It was REALLY encouraging that they are keeping their costs under control.
So yeah, maybe my $.45 - $.50 C value was a little too pessimistic. This should be only the extreme low side if a merger were to occur, which I think may have. How it would be structured I'm not sure at this point.
Anyways, in my opinion there is little risk in accumulating stock at these values!