Obviously you do not or have not followed the company. The earnings are legitimate. How else have they been able to put over $12 million in deposits on acquisitions and still have close to $6 million on the balance sheet??
Like I have said if the market was not so shaky and they could get it done around $10 a share not a big deal but to sell your shares below book value is laughable. There is no was they are buying a company below book value so why would they value there own like that??
Even after saying that a true long term investor should be rewarded a year out if buying at these prices!
Yes, definitely some support showed up this afternoon. This NASDAQ stock is now trading at forward pe of 3.39 and price to book 0.98. Even if shares diluted 50% (unlikely) and acquistion non-accretive until fy 2012 (very unlikely), we would still only be trading at a pe of 6.78, compared to the industry average of 28.62. Also, even without accretion, revenue is estimated to grow over 30% this year and next. And people are selling why? Margin calls?