These first few are Net-Nets that had or have very well run businesses or have decent business fundamentals at my quick appraisal.

Hurco Companies Inc. HURC
Doesn't deserve to be at 70% of NCAV in my opinion. Great business fundamentals which include a history of good EPS growth, solid balance sheet with no long-term debt. Their sales got clobbered past year as the economy turned as they sell to the metal working industry.

ADDvantage Technologies Group Inc. AEY
Communication hardware company. Cheap stock that was a high performing business.

Miller Industries Inc. MLR
makes vehicle towing equipment. Looks like it just fell into net-net land like a lot of these.

General Employment Enterprises JOB
is at about half of NCAV. They are in staffing. I think this is a good industry. I had my eye on GVHR and hesitated to long and missed the 200% premium a company bought them out for a couple months back. JOB isn't GVHR caliber but is interesting.

Leadis Technology LDIS
not the best but a semi and these are in play. Chart looks like it isn't going much lower soon and is actually on the move. That's about a pre-requisite when buying companies less than NCAV that buyers aren't interested in. I'll see the value to but I'll let someone else go first so I know I'm probably right. The market is dead wrong a lot but in the end it's always right as it catches up.


Here are some more cheap stock ideas small and mid-cappers with a lot of cash but not high burn rates.

George posted on Twitter about Arb play ENPT . All cash buyout for $2.50 and stock at $2.06.

full disclosure: no positions