Summary
Following the release of Q2 2019 results, shares of the company plummeted to near $1.90.
With $1.69 per share in cash, the current business is valued near 21 cents per share, offering excellent value to prospective investors.
While management provided weaker revenue guidance for Q3, cash is expected to remain near current levels, providing a cushion to execute the business plan to Q4 and beyond.
A cash trove of $97.5 million will enable the company to potentially acquire EBITDA-positive business in a buyer’s market.
In the midst of a major downturn in the oil services sector, the company’s CnF platform offers significant growth prospects as the company implements a direct to end-user market strategy.