BGA is a microcap stock at C$5.37M. The company specializes in the research, development, production, and marketing of innovative functional food ingredients. It has small but positive cash from operations as well as free cash flow over the last twelve months. Debt is high relative to size with a net debt balance of $6.3M. Revenues have been declining but gross profit and EBITDA margins have increased over FY 2023. BGA is still generating negative net income however and margin has declined here throughout 2023 as well. It's price has jumped up year-to-date, but it is too small for our consideration and it does have a decently long operating history. Despite the uptick year-to-date, debt, size, declining revenues and negative net income are all things not to like.
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