Below is my post on TCCO.OB on 02/07/08 when the stock was ~3.0. The margin of safety still fits and earnings were enviable today.
Margin of Safety 1-Feb-07 08:32 pm
My reasons for holding this stock are several and these initial comments will focus on certain aspects of the balance sheet. TCCO has an impressive and improving balance sheet offering investors a significant margin of safety. NTA (net tangible assets) have grown slightly over the last 4 quarters even without reported earnings. The market cap and enterprise value (EV) are approximately 4.50 and 3.15 million respectively. Additionally, market cap – current assets - long term investments+ total liabilities are only 32% of the stocks price or calculates to 1.44 million versus the market cap of 4.50 million. Cash is 41.34% of the share price. Cash less all liabilities for the current period was 1.344 million versus reported 4 quarters ago .368 million. The balance sheet continues to quietly improve but reported earnings have been weak potentially offering us an opportunity to invest before positive net income is reported and the stock price quickly increases.
Sentiment : Strong Buy