Lots of people think successful investing is about certainty but this Skull Session with Deiya Pernas of Pernas Research sits in uncertainty where information quality, narrative gaps, market inefficiencies, and disciplined analysis can drive better decisions than prediction. The discussion also covers how AI is reshaping software narratives, why less-followed and sometimes illiquid names can still create opportunity, and how the brothers think about businesses in terms of whether the underlying “motor” of a business is getting stronger or weaker. During my chat with Dean, we talked about motor investing. So it was nice to get Deiya’s point of view on this subject. 

Last week was a strong week of Skull Sessions. We welcomed back recurring guests, hedge fund manager Sean Westropp of Deepsail Capital and attorney John Sutter, to discuss the state of the short selling market and the conviction of Andrew Left, who was recently convicted of securities fraud in connection with a roughly $21 million stock market manipulation scheme and now faces up to 25 years in prison, with sentencing still pending. Whether you’re a professional or a casual investor, this case could have implications for how you interact on social media and how you approach writing and commentary when discussing stocks you like or dislike.

Last week, we held our June Open Forum. To start things off, we hosted Syra Health Corp. (OTCQB:SYRA) where we discussed its first profitable quarter and its positioning within value-based healthcare, including the behavioral health platform driving its recurring revenue angle. SYRA provides technology healthcare solutions to help improve patient care.

The feature highlight last week was a Fireside Chat Skull Session we hosted with Rhone Resch, Chief Strategy Officer of Toyo Co., Ltd (NASDAQ:TOYO), co-moderated and led by GeoInvesting Research contributor “Jev” (@MicrocapDr), covering surprisingly positive Q1 earnings results, the competitive advantage it has vs comps like First Solar, Inc. (NASDAQ:FSLR), the company’s plans to expand capacity to scale production, and the unique risks involved with investing in the solar industry. Can we see a re-rate in the company’s low P/E ratio?

This week, I also had my usual small-cap earnings review where Sebastian Krog (@treasurehunting on Substack; @SebKrog on X), Diego La Torre (@Diego_La_Torre_) and I went through 10 of our favorite small-cap and microcap names from the Q1 earnings season. We also made sure to cover the main risks in each case.

Well, I didn’t think I would be doing this anytime soon, but Richardson Electronics, Ltd. (NASDAQ:RELL) is back on our radar due to recent news about its expanding role in the power solutions narrative, including data centers and battery energy storage systems (BESS).The stock is not cheap, and the company has had a challenging time returning to growth since 2022/23. However, in the current market where narratives are driving prices ahead of fundamentals or inflecting catalysts, we recognize a benefit to start tracking stocks earlier than we normally would. If you know me… I am totally ok with more stocks. This week, I recorded a deep dive investor insight Skull Session with Dean Pernas of Pernas Research. They have a really cool investing framework they call “motor investing.”

Well, we added another stock to our Open Forum Focus Model Portfolio during the live Open Forum that took place on Thursday at 11 AM EST. It fits right into our aerospace and defense themes, which have already surfaced a number of multibaggers for our community. We think the stock has near-term double potential, with long-term multibagger potential. You can see the report here.

I also mentioned that Leatt Corp. (OTCQB:LEAT) could have qualified as our favorite stock selection of the month, based on its strong quarterly results. It was really a coin toss.

The COO of Crexendo, Inc. (NASDAQ:CXDO) was additionally brought on to discuss Q1 results and the company’s AI agent products.

It’s not often that we come across a stock trading at a P/E of less than 10x that meets all ten of the quality factors we use to qualify a stock for inclusion in our Model Portfolios… But it just happened… more inside…

This was a heavy earnings week across the GeoInvesting coverage universe. Key themes in the best reports continue to include expanding AI/data center infrastructure exposure across a wider range of businesses. This week, we are also highlighting a podcast discussion I had with Lukas Milosic (@Pixelresearch_ on X) on short-term vs long-term investing.

I’ll start out this week with a clip from our live management briefing Skull Session with the CEO of BIOREM…covering Q4 2025 results, a record backlog, and the company’s view on the geopolitical environment, with the discussion reinforcing improving near-term visibility, supported by stronger order flow and backlog expansion.

I love that the CEO is incredibly transparent about how to think about the potential quarter-to-quarter lumpiness in the business, within a favorable long-term growth outlook. The stock is currently selling at a trailing P/E 12.6x.

The main development this week was the introduction of Cvd Equipment Corporation (NASDAQ:CVV) as a special situation, alongside the publication of our Reasons For Tracking note. CVV has long been a structurally challenged, loss-making business, but a recent asset sale (SDC unit) and data center narrative could have meaningfully reshaped the setup. With a stronger cash position and a debt-free real estate base that’s recorded on the balance sheet at well below market prices, we argued that the stock was trading comfortably below our book value calculation, even before assigning value to the operating business.