The report on Ceapro is updated and rated Highly Speculative Buy / Hold at $0.16.
This company has been quite a disastrous investment over the years. At the end of 2022 it looked like it might be set for much better days. Instead, revenue has plunged in 2023. And now they are proposing a merger that is actually more of a take-over of Ceapro although Ceapro share owners will own 50% of the purchasing company -f the deal proceeds. It’s all VERY uncertain. On a positive note it has cash of about 15 cents per share and a book value of 38 cents per share. So in theory it looks under-valued. But I’m not inclined to add to my position. And on the other hand I can’t see selling it at this price.
I’ve never had much luck with the few penny stocks I have looked at. They tend to have a highly deserved reputation for being risky.