* working capital of $0.12 per share with no LT debt
* multiple light oil well drilling locations in Viewfield, SK
* carried interests with no drilling costs
* natural gas at Pembina – 10-12 additional locations identified
Jite Technologies is up just about 100% since introduced...and has lots of room to grow according to the metrics.
If you missed it, like many others clearly explained with exhaustive due diligence, there is still time to grab NTG Clarity(NCI.v), Alphinat(NPA.v) and Bluerush(BTV.v) at bottom fishing prices offering price multiplication.
" ...if you can't beat'em, might as well join'em ! "
shadow
Posted: Fri Dec 11 14:16:11 2009
Tara thankyou for bringing jti to our attention. My only regret is that I only took a 1/2 position prior to the stock having taken flight. I was being too cute on the bid and didn't get filled earlier this week at.24. Anyway I am still pleased with the increase in price of the 5000 shares that I was able to accumulate, and along with other posters that are holding jti I have enjoyed the ride over the last 2 days.
Tara
Posted: Thu Dec 10 10:14:07 2009
Canaccord showing some hunger...
Recent Trades - Last 8
Time Ex Price Change Volume Buyer Seller Markers
12:17:50 V 0.30 +0.055 48,000 33 Canaccord 83 Research Cap K
12:17:50 V 0.295 +0.05 1,000 33 Canaccord 7 TD Sec K
12:17:50 V 0.29 +0.045 1,000 33 Canaccord 1 Anonymous K
12:17:42 V 0.29 +0.045 11,000 33 Canaccord 1 Anonymous K
12:17:42 V 0.285 +0.04 1,000 33 Canaccord 2 RBC K
12:17:42 V 0.28 +0.035 8,000 33 Canaccord 1 Anonymous K
12:14:11 V 0.28 +0.035 2,000 33 Canaccord 1 Anonymous K
12:14:11 V 0.27 +0.025 8,000 33 Canaccord 85 Scotia KL
P.S. Elephant, there are some lawsuit issues with McVicar, see the corresponding thread and latest MD&A ( http://www.qiscapital.com/forum/display_thread.pl?id=2024 ).
elephant
Posted: Fri Nov 27 17:49:37 2009
Mcvicar Indusrties Inc. (Do your own DD on it...)
Tara
Posted: Fri Nov 27 8:48:19 2009
JTI.v - Jite Q3 update from SEDAR filing
currently trading at 24 cents
- 9 of 10 past quarters were profitable
- Market cap about 5M$
- Cash & short term inv. = 7.9M$ (0.37$/share)
- Working cap = 13.6M$ (0.64$/share)
- Book value = 16.4M$ (0.78$/share - all tangible, no goodwill)
- EPS/share: Q3+.035, Q2+.014, Q1+.015$, 2008 Q4+.021$/share
- Trailing Twelve Month EPS = 0.085$/share
- 2009 forward looking EPS = .11$/share (extrapolated from Q1 and Q2 and Q3)
- Free Cash Flow positive, when one remove plant set-up expenditures
- No long term debt
- 21.1M shares outstanding (about 2/3 held by management); options and warrants above today’s price
- Reasonable salary structure
- Gross margin improved to 36% in Q3
What makes this company interesting in my opinion?
Trading at roughly 3x EPS, well below cash per share, at roughly a third of working capital per share, and about a fourth of tangible book value, this profitable small cap exhibits strong fundamentals like few stocks on the venture exchange. Management’s cost containment approach is an obvious success, and the new plant should further these benefits. From every accounting metric possible, the stock is undervalued.
P.S. The above is simply my personal understanding and not to be construed as investment advice. I’m not a broker, promoter, director, manager or employee of the aforementioned company, just a shareholder. Do your own due diligence. Typos could have occurred.
dquinton
Posted: Thu Nov 26 8:39:03 2009
Very impressive results from Jite. Gross margins, balance sheet, and profitability have all improved dramatically. Working capital is now $0.64 per share and book value is $0.78 per share. Now if the market only cared.
- 9 of 10 past quarters were profitable
- Q3 EPS= +.035$/share, Q2 EPS=+.014$/share, Q1 EPS= +.015$/share,
- Trailing Twelve Month EPS = 0.084$/share
- 2009 forward looking EPS = .11$/share (extrapolated from Q1 and Q2 and Q3) - gross profits nearly doubled in Q3 (GM about 36%)
- Current Market cap less than 5M$
- 21.1M shares outstanding (about 2/3 held by management); options and warrants above today’s price
- Reasonable salary structure
A more detailed summary will be provided once the details are available at SEDAR, but Gang Chai is delivering wonderfully, and creating a severely undervalued state for his stock.
P.S. The above is simply my personal understanding and not to be construed as investment advice. I’m not a broker, promoter, director, manager or employee of the aforementioned company, just a shareholder. Do your own due diligence. Typos could of occurred.
Tara
Posted: Tue Oct 6 9:38:10 2009
QIS Capital initiated coverage of Jite Technologies a few days ago, and as of record, QIS holds/control 60 500 shares (october 1 2009).
got some this morning - thanks for the heads-up...
Tara
Posted: Mon Sep 21 9:27:29 2009
Bobwins and Dundee, here's your chance to pick up some...
Bobwins
Posted: Thu Sep 3 14:04:27 2009
Like it, can't buy it!
Mgmt is doing a great job making money even when sales are down. They are making the tough decisions before it's too late, cutting costs and preserving profits.
Sounds like a pretty generic set of products so no secure market niche but good mgmt is worth a lot.
Been trying to buy some but no dice.
I will wait. Bobwins
dundee
Posted: Mon Aug 31 20:39:57 2009
Hi Tara,
I nice little find indeed. I have added this to my watch list. My preliminary evaluation looks pretty favorable. I don't know how I missed your prior posting on this one.
Dundee
Tara
Posted: Mon Aug 31 13:09:40 2009
Jite Technologies (JTI.V) – Q2 summary
- 8 of 9 past quarters were profitable
- Current Market cap about 4.2M$
- Cash & equivalent = 8.8M$ (0.42$/share)
- Working cap = 13.8M$ (0.65$/share)
- Book value = 16.7M$ (0.79$/share - all tangible, no goodwill)
- Free Cash Flow positive
- No long term debt
- Q2 EPS= +.014$/share, Q1 EPS= +.015$/share,
- Trailing Twelve Month EPS = 0.055$/share
- 2009 forward looking EPS = .06$/share (extrapolated from Q1 and Q2)
- 21.1M shares outstanding (about 2/3 held by management); options and warrants above today’s price
- Reasonable salary structure
- Gross margin improved to 32.3% Q2
What makes this company interesting in my opinion?
Trading at roughly 3x EPS, below cash per share, at roughly a third of working capital per share, and about a fourth of tangible book value, this profitable small cap exhibits strong fundamentals like few stocks on the venture exchange. Should management cost containment approach continue to be successful in the downturn, 2009 should prove the stock's undervalued state. Only thing missing is a dividend…
P.S. The above is simply my personal understanding and not to be construed as investment advice. I’m not a broker, promoter, director, manager or employee of the aforementioned company, just a shareholder. Do your own due diligence. Typos could of occurred.
Tara
Posted: Tue May 12 7:19:52 2009
Jite Technologies (JTI.V)
President & CEO: Jiming Liu,
JITE investor contact: Henry Tse, CFO, (416)456-7803
www.jite.com
JITE designs and manufactures electronic and electrical connection devices for security,
industrial control, automation, telecommunication, and power supply industries. JITE is
headquartered in Toronto, Canada and carries out research and manufacturing operations
in Shenzhen China at its ISO 9001 certified facility.
The pros
- 619 employees
- 7 of 8 past quarters were profitable
- Cash = 5.6M$ (0.27$/share)
- Working cap = 12.5M$ (0.59$/share)
- Book value = 16.6M$ (0.79$/share - all tangible, no goodwill)
- Free Cash Flow positive
- No more long term debt as per note 19
- Q4 EPS= +.02$/share, 2008 EPS= +.03$/share
- 21.1M shares outstanding (about 2/3 held by management); options and warrants above today’s price
- Relentless insider buying from the chairman, and new spurt at .25$ a few days ago
- Market cap about 5M$, with sales/year over 16M$
- Reasonable salary structure
- Gross margin improved to 27% in Q4
The cons
- One lawsuit from former CEO, ranging from $40 to 275k impact (meaningless in terms of the overall)
- Affected by the recession and housing slump
What makes this company interesting in my opinion?
Trading below cash per share, at roughly half of working capital per share, and about a third of tangible book value, this profitable small cap will tease the pallet of the savvy bottom fishers. In the current environment, this stock has a strong balance sheet to weather to storm, without need of tapping the market for liquidity. The float is tightly held and diminishes at the hands of its deep pocket, highly determined Chairman. I know, I know, the recession is affecting their business(mostly catering to the housing market), but the accounting parameters were begging me to dip my toes in the water…
P.S. The above is simply my personal understanding and not to be construed as investment advice. I’m not a broker, promoter, director, manager or employee of the aforementioned company, just a shareholder. Do your own due diligence. Typos could of occurred.
