It was a pleasure to finally get to know you personally. I hope to see you again before too long.
I want to mention another company in which I recently invested a small amount of money. It is Continental Materials (CUO). It is somewhat similar to CRC in that they both have a connection to housing and construction. Both have a recent history of consistently reporting losses and the upturn in housing has not helped the price of either stock, but it still could. Both are very small caps and both have a history of having done better during the housing boom years.
CUO is very heavily dominated by the Gidwitz family. It is involved in sand, gravel and concrete in Colorado as well as manufacturing doors, and heating and cooling equipment in other locales. James Gidwitz, CEO, has made numerous small insider stock purchases in the $12 to $14 range over the past few years.
CUO still sells at a large discount to book value even after you exclude the intangible assets on its balance sheet. I view the intangibles here as worthless because the company is unable to realize excess margins and therefore I think the intangibles have no economic value.
The Gidwitz's should eventually do the right thing for this company which would be a sale of the whole company or in pieces or they should take it private. I have owned this stock several times before and have made money each time. If either CUO or CRC could see an improvement in its earnings it could do wonders for the stock prices. I am not "recommending" this stock to you and not predicting a turn around, just comparing it to CRC for your interest.