Or is it 2 legit 2 quit? I shall try to answer that question.
As usual, I was screening for absurdly cheap stocks. I wanted a market cap of 1B or less, trading under book value, with a P/FCF of 10 or less. I also wanted a stock that trades on average at least 50K shares/day.
CCTR is a tiny stock trading on the OTCBB. They are in the software development outsourcing business. They are trying to become a player in the smartphone and mobile computing market. It has a market capitalization of 173K! That's right, 173,000 dollars. It trades for 3 cents a share. It has a P/E of 3.7 and trades at a P/FCF of 1.7. It has a minuscule amount of long-term debt. This is a value investor's wet dream.
It looks too good to be true. So I'm starting to dig.
They filed for bankruptcy (Chapter 11) in Colorado March of 2005. However, it was dismissed in April 2006. Dismissal is not the same as discharge. Dismissal means that something went wrong with the proceedings. There's where the trail goes cold for me. I'm going to dig a little deeper and find out what happened. They also changed their name. That always seems shifty to me. Stay tuned.
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Any other info. regarding CCTR and their "name change" ? Thanks.
I'm searching for info, but havent' gotten around to digging into that just yet.
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