Trade Idea #11: Net cash microcap with embedded optionality

A company trading at net cash while building a sticky, high-growth platform business

We recently found a North American small-cap company that we believe is one of the most mispriced opportunities in public equities we’re seeing today.

A few points that make this situation compelling:

• The stock trades near net cash, implying little or no value for its established operating business.

• It owns a legacy franchise that should rebound with international travel, and is likely worth more than the current enterprise value on its own.

• At the same time, it operates a fast-growing platform that is already scaling revenues at triple-digit rates, with sticky customer relationships and major distribution catalysts ahead.

• The company has recently turned cash-flow neutral, carries no balance sheet risk, and insiders own nearly 30%, aligning incentives with outside shareholders.

• Structural factors — OTC listing, nano-cap size, thin liquidity, and limited disclosure — have kept the story off most investors’ radar.

The setup is straightforward: downside is anchored by cash and a recovering legacy business, while upside rests in the optionality of a payments platform that could generate material profitability within a few years. If even part of the growth potential materializes, this stock could be a multi-bagger from today’s levels.