Despite they had a negative free cash flow because of cash used in investing activities ($7,852,440 cash expenditures for purchase of license rights) it is good to see that as of August 5, 2010, cash receipt of approximately $8.3 million of the total trade accounts and installment receivables has been collected. This is significantly better than we are used to, so in that sense they made progress. Diluted earnings per share for the first six months were $0.12. As said in previous posts our calculation for this year is an EPS between $0.25-$0.30 depending on the growth process of their new mobile applications (http://www.glucomo.com/site/en/home).
This company deserves a higher valuation because they proofed already for years their business model is valid. With a P/E of just 4 this company is deeply undervalued and I really think we are going to see higher prices in the nearby future.