I really appreciate my readers.? Here’s an e-mail from one:

David,

Just read your recent blog post ?E-mails on Insurance.?

You made the comment that ?aside from non-sponsored ADRs no good companies trade on the pink sheets.?

Of course that is true in a general sense. I also am sure you have been inundated with lots of email taking exception to that comment.

One company I have loosely followed over time (that I came across just by chance many years ago) is Computer Services (CSVI) [www.csiweb.com]. There is no volume in the stock so institutional managers have no ability to take a position, but the firm has done a great job of growing the business while maintaining profitability (been an opportunistic acquirer of small bank processor companies) and is probably a candidate for consolidation by a Fiserv or someone like that. Anyhow, I think if you take a look at the firm, you will see that there is at least one solid company traded on the pinks (and I am sure there are others, I just don?t go fishing there).

My comment ?aside from non-sponsored ADRs no good companies trade on the pink sheets.? is an overstatement.? To prove that, I give you a list of 148 companies that:

• Have been profitable for the last four fiscal years.
• Are US companies
• Are not ADRs

2370 companies that trade over-the-counter reduce to 148 companies — 6.24% of the whole, explaining why my overstatement is largely, but not totally correct.? I would not tell someone to look amid these companies to find good ones, but there are some good ones there.? I have listed them in declining order of market capitalization.

Company	Ticker	Sector	Industry	Mkt Cap	Dollar Volume	P/E	P/B	P/S
Belk Inc	BLKIA	09 – Services	0951 – Retail (Department & Discount)	?? 2,057.80	??????????? –	?? 12.40	???? 1.66	???? 0.51
First National Bank Alaska	FBAK	07 – Financial	0727 – Regional Banks	????? 604.00	??????????? –	?? 14.90	???? 1.23	???? 5.45
First Citizens Bancorporation,	FCBN	07 – Financial	0727 – Regional Banks	????? 572.70	???? 33.20	???? 9.60	???? 0.64	???? 1.87
Computer Services, Inc.	CSVI	10 – Technology	1036 – Software & Programming	????? 476.10	?? 146.81	?? 18.20	???? 3.80	???? 2.31
Hills Bancorporation	HBIA	07 – Financial	0727 – Regional Banks	????? 345.00	?????? 3.65	?? 13.30	???? 1.29	???? 4.03
Farmers & Merchants Bancorp	FMCB	07 – Financial	0727 – Regional Banks	????? 324.40	???? 20.85	?? 13.60	???? 1.54	???? 4.27
FRMO Corp.	FRMO	07 – Financial	0721 – Misc. Financial Services	????? 302.80	???? 23.45	?? 26.90	???? 3.66	?? 16.64
HomeFed Corporation	HOFD	02 – Capital Goods	0215 – Construction Services	????? 299.80	???? 22.83	?? 62.40	???? 1.79	???? 7.93
First Opportunity Fund, Inc.	FOFI	07 – Financial	0721 – Misc. Financial Services	????? 262.10	?? 269.95	???? 7.20	???? 0.86	?? 58.25
International Wire Group Holdi	ITWG	01 – Basic Materials	0127 – Misc. Fabricated Products	????? 255.40	?????? 2.61	?? 19.60	???? 6.69	???? 0.21
Canandaigua National Corporati	CNND	07 – Financial	0724 – Money Center Banks	????? 249.90	?????? 6.65	?? 12.20	???? 1.66	???? 3.41
Viskase Companies, Inc.	VKSC	01 – Basic Materials	0109 – Containters & Packaging	????? 237.90	?? 214.50	?? 24.10		???? 0.67
Conrad Industries, Inc.	CNRD	11 – Transportation	1118 – Water Transportation	????? 226.80	?? 249.58	???? 9.10	???? 1.95	???? 0.86
United Capital Corp.	UCAP	10 – Technology	1024 – Electronic Instruments & Controls	????? 187.40	?????? 4.80	?? 13.40	???? 1.34	???? 1.58
Isabella Bank Corp	ISBA	07 – Financial	0727 – Regional Banks	????? 184.70	???? 52.67	?? 15.50	???? 1.14	???? 3.39
Profire Energy, Inc.	PFIE	02 – Capital Goods	0209 – Construction – Supplies and Fixtures	????? 160.20	???? 98.83	?? 41.90	?? 10.81	???? 5.97
Cambridge Bancorp	CATC	07 – Financial	0727 – Regional Banks	????? 150.50	???? 59.33	?? 11.50	???? 1.47	???? 3.20
Citizens Financial Services In	CZFS	07 – Financial	0718 – Investment Services	????? 148.30	???? 24.55	?? 10.90	???? 1.64	???? 4.06
Mestek, Inc.	MCCK	02 – Capital Goods	0218 – Misc. Capital Goods	????? 144.40	?????? 0.86	???? 8.80	???? 1.03	???? 0.41
Webco Industries, Inc.	WEBC	01 – Basic Materials	0127 – Misc. Fabricated Products	????? 143.50	???? 16.95	?? 15.50	???? 0.57	???? 0.22
First Keystone Corp.	FKYS	07 – Financial	0727 – Regional Banks	????? 137.80	???? 18.75	?? 12.80	???? 1.42	???? 4.32
MVB Financial Corp	MVBF	07 – Financial	0724 – Money Center Banks	????? 135.30	???? 14.40	?? 22.10	???? 1.67	???? 5.34
First Mid-Illinois Bancshares,	FMBH	07 – Financial	0727 – Regional Banks	????? 130.30	?????? 4.40	?? 12.90	???? 1.32	???? 2.43
First Real Estate Investment T	FREVS	09 – Services	0933 – Real Estate Operations	????? 126.70	???? 13.69	?? 42.40	???? 7.73	???? 3.08
First Manitowoc Bancorp, Inc.	BFNC	07 – Financial	0730 – S&Ls/Savings Banks	????? 120.80	???? 33.30	?? 11.30	???? 1.19	???? 3.07
Peoples Financial Services Cor	PFIS	07 – Financial	0727 – Regional Banks	????? 120.40	???? 62.40	?? 14.60	???? 1.90	???? 4.37
First Farmers & Merchants Corp	FFMH	07 – Financial	0727 – Regional Banks	? ????111.20	?????? 3.30	?? 13.30	???? 1.05	???? 3.05
Yasheng Group	HERB	05 – Consumer Non-Cyclical	0509 – Crops	????? 105.50	?????? 3.88	???? 0.80	???? 0.05	???? 0.11
Farmers & Merchants Bancorp In	FMAO	07 – Financial	0727 – Regional Banks	???? ?105.10	???? 62.01	?? 11.40	???? 0.98	???? 3.37
Nova Lifestyle Inc	STVS	04 – Consumer Cyclical	0421 – Furniture & Fixtures	???????? 89.20	???? 93.77	?? 16.80	???? 2.50	???? 1.17
Golden Growers Coop	GGROU	05 – Consumer Non-Cyclical	0509 – Crops	???????? 89.10	?????? 1.44	?? 18.50	???? 2.30	???? 0.93
First Guaranty Bancshares, Inc	FGBI	07 – Financial	0727 – Regional Banks	???????? 88.20	?????? 7.01	?? 10.50	???? 1.03	???? 1.72
QNB Corp	QNBC	07 – Financial	0730 – S&Ls/Savings Banks	??? ?????83.40	???? 49.82	???? 9.70	???? 1.12	???? 2.62
CCFNB Bancorp Inc	CCFN	07 – Financial	0727 – Regional Banks	???????? 78.40	???? 26.99	?? 12.00	???? 1.05	???? 3.75
Calvin B. Taylor Bankshares, I	TYCB	07 – Financial	0727 – Regional Banks	??? ?????75.70	?????? 3.84	?? 17.80	???? 0.95	???? 5.11
Juniata Valley Financial Corp	JUVF	07 – Financial	0730 – S&Ls/Savings Banks	???????? 73.20	?????? 7.85	?? 18.80	???? 1.50	???? 4.35
Northwest Indiana Bancorp	NWIN	07 – Financial	0730 – S&Ls/Savings Banks	???????? 72.70	?????? 7.68	???? 9.80	???? 1.08	???? 2.76
Franklin Financial Services Co	FRAF	07 – Financial	0727 – Regional Banks	???????? 71.80	???? 36.33	?? 13.10	???? 0.77	???? 1.97
Rand Worldwide Inc	RWWI	10 – Technology	1036 – Software & Programming	???????? 67.60	???? 24.38	?? 41.70	???? 2.05	???? 0.85
Centrix Bank & Trust	CXBT	07 – Financial	0727 – Regional Banks	???????? 67.40	?????? 7.17	?? 12.00	???? 1.29	???? 2.26
Peoples Bancorp	PBNI	07 – Financial	0730 – S&Ls/Savings Banks	???????? 66.80	?????? 7.20	?? 21.60	???? 0.88	???? 3.59
Reserve Petroleum Co	RSRV	06 – Energy	0609 – Oil & Gas Operations	???????? 66.20	???? 20.75	?? 10.90	???? 2.05	???? 3.49
Harleysville Savings Financial	HARL	07 – Financial	0730 – S&Ls/Savings Banks	???????? 65.60	???? 19.95	?? 13.90	???? 1.10	???? 2.09
William Penn Bancorp Inc	WMPN	07 – Financial	0730 – S&Ls/Savings Banks	???????? 65.50	???? 28.80	?? 23.40	???? 1.15	???? 4.86
Kentucky Bancshares, Inc.	KTYB	07 – Financial	0727 – Regional Banks	???????? 65.30	?????? 6.00	???? 9.10	???? 0.92	???? 2.36
Community Bancorp Vermont	CMTV	07 – Financial	0727 – Regional Banks	???????? 64.50	?????? 5.31	?? 13.70	???? 1.50	???? 2.82
Hennessy Advisors Inc	HNNA	07 – Financial	0718 – Investment Services	???????? 64.30	?????? 9.81	?? 13.10	???? 2.23	???? 2.74
Monarch Cement Co	MCEM	02 – Capital Goods	0212 – Construction – Raw Materials	???????? 63.40	???? 13.42	?? 21.00	???? 0.96	???? 0.69
Armanino Foods Of Distinction	AMNF	05 – Consumer Non-Cyclical	0515 – Food Processing	???????? 63.10	???? 47.48	?? 21.90	???? 9.85	???? 2.25
Q.E.P. Co., Inc.	QEPC	02 – Capital Goods	0209 – Construction – Supplies and Fixtures	???????? 62.10	???? 17.14	???? 5.80	???? 1.08	???? 0.21
Commercial National Financial	CNAF	07 – Financial	0727 – Regional Banks	???????? 60.10	???? 17.85	?? 12.10	???? 1.33	???? 4.17
Croghan Bancshares, Inc.	CHBH	07 – Financial	0727 – Regional Banks	???????? 57.90	?????? 8.63	?? 12.80	???? 0.86	???? 2.72
Burnham Holdings Inc	BURCA	02 – Capital Goods	0209 – Construction – Supplies and Fixtures	???????? 57.20	?????? 6.66	?? 12.80	???? 1.29	???? 0.42
Standard Financial Corp.	STND	07 – Financial	0727 – Regional Banks	???????? 56.10	???? 51.56	?? 19.30	???? 0.71	???? 3.39
Choiceone Financial Services I	COFS	07 – Financial	0727 – Regional Banks	???????? 54.90	???? 13.34	?? 11.30	???? 0.90	???? 2.85
LICT Corporation	LICT	09 – Services	0915 – Communications Services	?????? ??54.00	??????????? –	???? 6.70
Capital Properties Inc	CPTP	09 – Services	0939 – Rental & Leasing	???????? 52.80	?????? 4.80	?? 34.80	?? 34.78	???? 6.86
Middlefield Banc Corp	MBCN	07 – Financial	0727 – Regional Banks	???????? 52.70	?? 101.40	???? 8.10	???? 1.00	???? 1.87
CSB Bancorp Inc (Ohio)	CSBB	07 – Financial	0730 – S&Ls/Savings Banks	???????? 52.00	???? 20.90	?? 10.10	???? 1.00	???? 2.49
Jeffersonville Bancorp	JFBC	07 – Financial	0727 – Regional Banks	???????? 51.70	???? 17.69	?? 11.80	???? 1.03	???? 2.71
Georgia-Carolina Bancshares In	GECR	07 – Financial	0727 – Regional Banks	???????? 51.70	???? 59.45	???? 7.80	???? 0.90	???? 2.78
PSB Holdings Inc (Wisconsin)	PSBQ	07 – Financial	0727 – Regional Banks	???????? 50.60	???? 10.72	???? 8.30	???? 0.90	???? 1.86
Consumers Bancorp, Inc.	CBKM	07 – Financial	0730 – S&Ls/Savings Banks	???????? 49.30	?????? 2.72	?? 14.00	???? 1.33	???? 2.86
Quality Products, Inc.	QPDC	02 – Capital Goods	0218 – Misc. Capital Goods	? ???????47.70	?????? 3.78	???? 8.30	???? 4.84	???? 1.63
Northway Financial, Inc.	NWYF	07 – Financial	0727 – Regional Banks	???????? 47.10	???? 10.26	???? 6.70	???? 1.03	???? 1.41
Granite Falls Energy LLC	GFGY	01 – Basic Materials	0103 – Chemical Manufacturing	???????? 45.90	??????????? –	?? 15.30
George Risk Industries Inc	RSKIA	09 – Services	0972 – Security Systems & Services	???????? 45.20	?????? 9.89	?? 11.40	???? 1.40	???? 4.27
F&M Bank Corp	FMBM	07 – Financial	0727 – Regional Banks	???????? 43.30	???? 11.21	???? 9.00	???? 0.84	???? 1.63
Southern Michigan Bancorp	SOMC	07 – Financial	0727 – Regional Banks	???????? 42.50	?????? 5.33	???? 9.40	???? 0.77	???? 2.15
Noble Roman’s, Inc.	NROM	09 – Services	0942 – Restaurants	???????? 42.30	???? 69.62	?? 30.90	???? 3.28	???? 5.63
Minden Bancorp Inc	MDNB	07 – Financial	0730 – S&Ls/Savings Banks	???????? 41.60	?????? 3.50	?? 12.80	???? 0.98	???? 4.07
Surrey Bancorp	SRYB	07 – Financial	0727 – Regional Banks	???????? 41.50	?????? 4.68	?? 16.50	???? 1.36	???? 3.91
Corning Natural Gas Holding Co	CNIG	12 – Utilities	1206 – Natural Gas Utilities	???????? 40.20	?????? 7.99	?? 20.40	???? 1.78	???? 1.74
Pioneer Railcorp	PRRR	11 – Transportation	1112 – Railroads	??? ?????37.00	?????? 6.72	?? 21.30	???? 2.80	???? 1.77
Ziegler Companies, Inc., The	ZGCO	07 – Financial	0718 – Investment Services	???????? 35.70	???? 27.00	?? 17.60	???? 1.10	???? 0.45
XCel Brands Inc	XELB	07 – Financial	0721 – Misc. Financial Services	???????? 35.60	?????? 0.35	???? 5.70	???? 1.04	???? 2.33
Security Federal Corporation (	SFDL	07 – Financial	0730 – S&Ls/Savings Banks	???????? 35.40	?????? 8.42	?? 13.20	???? 0.63	???? 1.14
Regency Affiliates Inc	RAFI	12 – Utilities	1203 – Electric Utilities	???????? 33.90	?????? 1.44	???? 9.00	???? 1.05
New Ulm Telecom Inc	NULM	09 – Services	0915 – Communications Services	???????? 33.50	?????? 5.90	???? 8.90	???? 0.59	???? 0.90
Heritage Bankshares, Inc.	HBKS	07 – Financial	0727 – Regional Banks	???????? 29.60	?????? 8.45	?? 14.10	???? 1.00	???? 2.79
Home Loan Financial Corporatio	HLFN	07 – Financial	0730 – S&Ls/Savings Banks	???????? 29.50	?????? 2.60	???? 8.60	???? 1.17	???? 2.82
High Country Bancorp, Inc.	HCBC	07 – Financial	0730 – S&Ls/Savings Banks	???????? 29.50	?????? 9.90	?? 15.20	???? 1.24	???? 3.15
Commercial Bancshares, Inc. \O	CMOH	07 – Financial	0727 – Regional Banks	???????? 29.10	???? 14.76	?? 10.30	???? 0.95	???? 2.06
South Street Financial Corp.	SSFC	07 – Financial	0730 – S&Ls/Savings Banks	???????? 28.70	?? 121.25	?? 28.50	???? 1.05	???? 2.29
CreditRiskMonitor.Com Inc	CRMZ	10 – Technology	1018 – Computer Services	???????? 27.90	?????? 1.75	?? 87.50	???? 6.48	???? 2.38
Smtp Inc	SMTPD	10 – Technology	1018 – Computer Services	???????? 25.80	???? 27.23	?? 20.60	?? 15.57	???? 4.46
West End Indiana Bancshares In	WEIN	07 – Financial	0730 – S&Ls/Savings Banks	???????? 25.70	?????? 7.40	?? 18.30	???? 0.80	???? 2.10
Northeast Indiana Bancorp	NIDB	07 – Financial	0730 – S&Ls/Savings Banks	???????? 25.50	?????? 6.21	???? 9.30	???? 0.92	???? 2.55
Summit Financial Services Grou	SFNS	07 – Financial	0718 – Investment Services	???????? 25.20	???? 23.80	?? 15.40	???? 2.51	?? ??0.31
First Bancorp of Indiana, Inc.	FBPI	07 – Financial	0730 – S&Ls/Savings Banks	???????? 24.90	?????? 2.85	?? 16.00	???? 0.86	???? 1.88
Spindletop Oil & Gas Co	SPND	06 – Energy	0609 – Oil & Gas Operations	???????? 24.40	?????? 3.17	???? 7.30	???? 1.28	???? 1.89
Frederick County Bancorp (MD)	FCBI	07 – Financial	0727 – Regional Banks	???????? 24.10	?????? 7.20	?? 15.80	???? 0.91	???? 1.90
Meritage Hospitality Group Inc	MHGU	09 – Services	0942 – Restaurants	???????? 24.00	?????? 3.26	???? 6.60	???? 2.35	???? 0.21
Pinnacle Bankshares Corp	PPBN	07 – Financial	0727 – Regional Banks	???????? 24.00	?????? 7.95	?? 17.90	???? 0.85	???? 1.54
CNB Financial Services Inc	CBFC	07 – Financial	0727 – Regional Banks	???????? 23.60	??????? ????-	?? 15.10	???? 0.83	???? 1.97
Investors Heritage Capital Cor	IHRC	07 – Financial	0709 – Insurance (Life)	???????? 23.50	?????? 8.28	?? 11.70	???? 0.44	???? 0.29
Trans World Corporation	TWOC	09 – Services	0912 – Casinos & Gaming	???????? 22.50	?????? 3.32	?? 12.80	???? 0.53	???? 0.63
Pinnacle Bancshares, Inc.	PCLB	07 – Financial	0727 – Regional Banks	???????? 21.70	?????? 4.46	???? 9.10	???? 0.82	???? 2.33
FFW Corporation	FFWC	07 – Financial	0730 – S&Ls/Savings Banks	???????? 21.40	?????? 6.74	???? 9.10	???? 0.93	???? 1.66
ASB Financial Corp. (OH)	ASBN	07 – Financial	0730 – S&Ls/Savings Banks	???????? 20.70	?????? 5.85	?? 13.40	???? 0.98	???? 1.96
SBT Bancorp Inc	SBTB	07 – Financial	0727 – Regional Banks	???????? 20.50	???? 21.95	?? 13.50	???? 1.06	???? 1.72
Seychelle Environmental Techno	SYEV	02 – Capital Goods	0218 – Misc. Capital Goods	???????? 20.40	???? 20.22	?? 19.80	???? 4.65	???? 3.46
Great American Bancorp	GTPS	07 – Financial	0727 – Regional Banks	???????? 19.80	?????? 2.70	?? 13.40	???? 0.80	???? 2.26
Sierra Monitor Corporation	SRMC	10 – Technology	1030 – Scientific & Technical Instruments	???????? 19.70	???? 12.68	?? 15.00	???? 2.41	???? 1.10
Logansport Financial Corp.	LOGN	07 – Financial	0724 – Money Center Banks	???????? 19.60	?????? 2.50	???? 9.00	???? 0.86	???? 2.30
Seneca-Cayuga Bancorp Inc	SCAY	07 – Financial	0724 – Money Center Banks	???????? 19.60	?????? 1.24	???? 9.50	???? 1.00	???? 1.64
Micropac Industries, Inc.	MPAD	10 – Technology	1033 – Semiconductors	???????? 18.90	?????? 3.67	?? 20.90	???? 0.96	???? 0.97
Texas Vanguard Oil Co	TVOC	06 – Energy	0609 – Oil & Gas Operations	???????? 18.60	?????? 1.31	?? 22.60	???? 1.40	???? 3.04
Issuer Direct Corp	ISDR	09 – Services	0909 – Business Services	???????? 18.30	???? 46.92	?? 20.90	???? 7.19	???? 3.26
Environmental Tectonics Corpor	ETCC	02 – Capital Goods	0203 – Aerospace and Defense	???????? 17.90	?????? 3.22	?? 21.70	???? 2.47	???? 0.55
Wells Financial Corp.	WEFP	07 – Financial	0730 – S&Ls/Savings Banks	???????? 17.80	???? 13.50	?? 13.60	???? 0.67	???? 1.99
Sono-Tek Corporation	SOTK	02 – Capital Goods	0218 – Misc. Capital Goods	???????? 17.40	???? 37.68	?? 60.00	???? 2.79	???? 1.89
DynTek, Inc	DYNE	10 – Technology	1036 – Software & Programming	???????? 17.00	?????? 0.80	???? 5.00	???? 2.23	???? 0.13
Riverview Financial Corporatio	RIVE	07 – Financial	0727 – Regional Banks	???????? 16.90	???? 12.81	?? 12.00	???? 0.63	???? 1.30
Paradise, Inc.	PARF	05 – Consumer Non-Cyclical	0515 – Food Processing	???????? 16.60	?????? 3.20	?? 18.80	???? 0.78	???? 0.66
Bank McKenney (VA)	BOMK	07 – Financial	0727 – Regional Banks	???????? 16.60	?????? 4.30	???? 9.10	???? 0.73	???? 1.55
Quaint Oak Bancorp Inc	QNTO	07 – Financial	0730 – S&Ls/Savings Banks	???????? 15.60	???? 30.88	?? 23.60	???? 0.85	???? 2.38
Greenville Federal Financial C	GVFF	07 – Financial	0730 – S&Ls/Savings Banks	???????? 15.40	?????? 2.20	?? 17.50	???? 0.82	???? 2.55
BV Financial Inc	BVFL	07 – Financial	0730 – S&Ls/Savings Banks	???????? 14.40	?????? 1.20	?? 30.00	???? 1.15	???? 2.49
Jaclyn, Inc.	JCLY	04 – Consumer Cyclical	0403 – Apparel/Accessories	???????? 13.70	?????? 2.70	?? 15.40	???? 0.62	???? 0.08
OPT-Sciences Corp	OPST	10 – Technology	1030 – Scientific & Technical Instruments	???????? 13.50	?????? 1.74	?? 12.90	???? 1.05	???? 2.04
Citizens Bancshares Corporatio	CZBS	07 – Financial	0727 – Regional Banks	???????? 13.30	?????? 1.94	?? 11.40	???? 0.40	???? 1.02
Chino Commercial Bancorp (CA)	CCBC	07 – Financial	0727 – Regional Banks	???????? 13.20	?????? 2.39	?? 19.20	???? 1.45	???? 3.09
IEH Corporation	IEHC	10 – Technology	1024 – Electronic Instruments & Controls	???????? 12.10	???? 20.74	???? 8.50	???? 1.26	???? 0.82
ITEX Corporation	ITEX	07 – Financial	0718 – Investment Services	???????? 11.60	???? 15.20	?? 10.50	???? 0.88	???? 0.72
Zynex Inc.	ZYXI	08 – Health Care	0812 – Medical Equipment & Supplies	???????? 11.20	?????? 9.67		???? 1.20	???? 0.39
Great Lakes Aviation, Ltd.	GLUX	11 – Transportation	1106 – Airline	???????? 10.50	?????? 8.07		???? 0.27	???? 0.08
Fairmount Bancorp Inc	FMTB	07 – Financial	0727 – Regional Banks	?????????? 9.80	?????? 1.01	?? 49.40	???? 0.70	???? 2.58
Solitron Devices, Inc.	SODI	10 – Technology	1033 – Semiconductors	?????????? 9.50	???? 32.63	?? 11.20	???? 0.85	???? 1.10
Repro-Med Systems, Inc.	REPR	08 – Health Care	0812 – Medical Equipment & Supplies	?????????? 7.70	?????? 3.80	?? 21.00	???? 1.62	???? 0.96
Union Electric Company	UELMO	12 – Utilities	1203 – Electric Utilities	?????????? 7.60	?????? 4.70	?? 25.40	???? 2.39	???? 2.78
Surge Components, Inc.	SPRS	10 – Technology	1024 – Electronic Instruments & Controls	?????????? 7.50	???? 10.84	???? 4.10	???? 0.74	???? 0.32
Home Financial Bancorp	HWEN	07 – Financial	0730 – S&Ls/Savings Banks	?????????? 7.50	?????? 1.68	?? 13.30	???? 0.92	???? 2.21
Alliance Distributors Holding,	ADTR	10 – Technology	1015 – Computer Peripherals	?????????? 7.50	?????? 2.70	???? 5.70	???? 1.31	???? 0.11
Community Investors Bancorp In	CIBN	07 – Financial	0730 – S&Ls/Savings Banks	?????????? 7.10	?????? 6.48	?? 73.60	???? 0.57	???? 1.15
M&F Bancorp, Inc.	MFBP	07 – Financial	0727 – Regional Banks	?????????? 7.10	?????? 4.38		???? 0.30	???? 0.65
China Industrial Steel Inc	CDNN	01 – Basic Materials	0121 – Iron & Steel	?????????? 6.60	?????? 1.38	???? 4.50	???? 0.03
FPB Financial Corp.	FPBF	07 – Financial	0730 – S&Ls/Savings Banks	?????????? 5.20	??????????? –	???? 8.90	???? 0.97	???? 1.78
NexCore Healthcare Capital Cor	NXCR	08 – Health Care	0806 – Healthcare Facilities	?????????? 5.10	?????? 0.02	???? 2.00	???? 0.45	???? 0.37
Precision Auto Care	PACI	09 – Services	0909 – Business Services	?????????? 5.00	?????? 0.17	???? 7.30	???? 0.26	???? 0.19
Scientific Industries, Inc.	SCND	10 – Technology	1030 – Scientific & Technical Instruments	?????????? 4.80	?????? 2.34	?? 12.40	???? 0.89	???? 0.68
Tidelands Royalty Trust B	TIRTZ	07 – Financial	0721 – Misc. Financial Services	?????????? 4.70	?????? 9.01	???? 9.20	???? 7.91	???? 6.73
Foxby Corp	FXBY	07 – Financial	0721 – Misc. Financial Services	?????????? 4.70	?????? 1.09	???? 6.50	???? 0.77	?? 23.62
TNR Technical, Inc.	TNRK	10 – Technology	1024 – Electronic Instruments & Controls	?????????? 3.80	?????? 4.31	?? 12.30	???? 0.99	???? 0.41
Information Analysis Incorpora	IAIC	10 – Technology	1036 – Software & Programming	?????????? 2.40	?????? 1.97		???? 1.19	???? 0.44
Microwave Filter Co., Inc	MFCO	10 – Technology	1024 – Electronic Instruments & Controls	?????????? 1.70	?????? 1.50		???? 1.03	???? 0.53
Bayou City Exploration, Inc.	BYCX	06 – Energy	0609 – Oil & Gas Operations	?????????? 1.50	?????? 0.81	???? 2.70	???? 0.73	???? 0.44
Tongli Pharmaceuticals (USA) I	TGLP	08 – Health Care	0803 – Biotechnology & Drugs	?????????? 0.90	?????? 0.01	???? 0.40	???? 0.04	???? 0.07

Lotsa little banks and tech companies.? Hey, I’m going to throw those with over $100 million of market cap into my next portfolio reshaping.? I’m still small enough as a manager to deal with small companies if they are well-managed.? This can bring me back to my microcap value days, where I invested 1992-1998.? Once I made an offer to buy more than 5% of a company, and I asked my bosses if they would have any problems if I had to make a 13F filing.? They gave me the go ahead; I made my offer and it was turned down.? Pity, because if it had worked, it would have been a great investment.

The table above is a beginning for due diligence.? I do not recommend any of the stocks there.? I do note that my reader’s stock is high on the list.

Some of these stocks could be good investments, but you would have to do the research to figure out which ones are good.? On the bright side, almost no one is analyzing these companies, so your analysis has more punch relative to company outsiders.? Insiders will still do better.

All that said, I suspect that these stocks will do well on average.