The age of management is an issue here. The two key guys, the CEO and the Director of Product Development, are over 70. They are unlikely to be replaced internally (there are only 9-10 other employees). Thus an investor is likely to see all new management soon. For those that like this team, this makes TOF stock a bit of a wild card.
I consider the age of managment a wild card that may indicate sell-out / buy out. A few years ago they gave themselves options (dilutive - I might add) which might be in line with this theory. So the longevity of these guys may mean it is time to pass the baton to a new owner and all of us tender our stock to Kellog for a 30% premium.
"it is time to pass the baton to a new owner and all of us tender our stock to Kellog for a 30% premium."
Could be, but betting on a buyout before even preliminary negotiations have begun isn't exactly a slam dunk. You never know when or if one will happen. In the meantime, we are investing in a future management team that is a total wild card.