MIT

Well MIT is in the news again with Michael Lee Chin picking up 12.5M shares through MIT's latest PP. My prediction is 50 cents by month end.

Here's a post I wrote on Pinnacle Digest:

I'm certainly no expert on picking stocks as am just an amateur. I like MIT because they have a regular revenue stream that's on contract and this can only go up as they sign more contracts. I lived and worked in the UAE for 6 months a few years ago and know that pretty much the entire Middle East have laws relating to paying foreign contract workers similar to those of the UAE which means their business have nowhere to go but up. Now, MIT has over 400,000 cards (once the latest deal closes) and they're forecasting over 500,000 cards by year end. The reload card business is extremely profitable although I don't know what the LTV per card is but do know that if they make $1 per card per month, you have $400k per month in revenue and now that they have finally closed their Canadian office and shed that expense, that $400k per month will result in significant profit. As well, oil producing countries in the Gulf have non indiginous workers for about 90% of their workforce which makes the potential market for MIT HUGE !

With only 84 mil shares outstanding and annual earnings of roughly 6 mil, and we use a PE multiple of say 10, this places the SP at around 71 cents per share. My 50 cent comment is my conservative estimate. Of course this should go much higher once MIT expands into other countries in the ME.

This is one company that I'm planning to keep for the long term and I fully expect a 20X return on my investment.

With all this said, please remember that I am an ABSOLUTE AMATEUR and will not be held responsible for whatever anybody does as a result from reading this post as I may be totally wrong like some of the other dogs that I have in my portfolio.