Undervalued, Under-researched, Underwear

This stock is too cheap at 10p. The market cap is 11m yet they have 5m in cash and are undergoing a disposal programme which could see them with as much as 15m in cash by the end of this year. The remaining business is profitable and looks likely to have made an operating profit of 1.5m in 2003.

Result out in March.

Am I the only person that can see the value here? the shares are worth nearer 20p than 10p.

Arthur