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  5. TMG: Can I get your updated opinion of this company? [Thermal Energy International Inc.]
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Q: Can I get your updated opinion of this company? Wondering if it’s worth a flyer in my TFSA.
Thanks
Asked by Curtis on October 30, 2024
5i Research Answer:

TMG is a small-cap name that develops pollution control products and heat recovery systems. TMG’s revenue growth was solid over the last two years, above 20% on average two years in a row. As a result, TMG just became profitable due to strong organic growth. TMG’s balance sheet is strong, with $3.1M of net cash (8% of market cap). TMG has been generating strong cash flow with limited capex required. TMG is expected to grow by double digits over the next few years. Overall, a very interesting name, but with a highly illiquid trading volume, investors need to get comfortable with the liquidity to own names like TMG.