Today TLAN released its 2010 annual report, among the surprises was the fact that the company posted a profit for the year! Even I did not expect that. Judging from recent financials we knew the company was on the cusp of profitability, but now its official. TLAN is in the black. Even better the company has increased its assets while significantly reducing its liabilities.
The liabilities that remain are not of the convertible variety, which more than likely has put a cap on this stock's price. You have to like the direction this company is headed. Debt's down, assets up, and posting its first positive net income in company history.
Liabilities reduced from $1.55 million to $1.1 million, wiith all debt non-convertible meaning no possibility fro dilution.
Assets Increased from $2.17 million to $2.37 million. Growing assets while also shrinking liabilities, this speaks volumes about management and how hard they are working for shareholders.
Revenues of $3.8 million or almost $.006 per share.
Cash flow positive to the tune of $50k
Gross profit of $453,000
Net Income $80,000
While I know the net income is not a big number, it is a profit. In 2009 the company lost over $330,000. Percentage wise it is a tremendous improvement. It also shows the direction this company is headed.
With the over hang of convertible debt gone, this now profitable company, should see its share price more reflective of Hire Internationals true potential. With its attractive and stable share structure I see this stock hitting $.01 at some point in the near term.
In my view this isn't one of those stocks that you buy and flip the same day, rather this is a transparent, growing, profitable Pink Sheet stock that truly is one of the diamonds in the rough. At current prices this stock, in my opinion, offers a tremendous opportunity.
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