Q: Please comment on NCI results and what do you think about this company going forward?
5i Research Answer:
NTG is still just $30M market cap, even with a 351% gain this year. It was 12 cents near year end, so it is not one we have followed too closely. It has revenue, positive cash flow, and is profitable. It is cheap on a valuation basis if earnings can be maintained. There are no analysts covering the stock. It has recently won some contracts in the Middle East. We are often skeptical of such deals, but to be fair revenue has more than doubled in the past couple of years. Insiders own 31%. The company has been around a very long time, and the stock is down 90%+ in the past 20 years. This makes us far more cautious in addition to our general microcap caution.