We’ve been following this company for some time now, and it continues to be one of the stranger little companies in our coverage universe. Investors just don’t seem to care. That has been understandable at times. It is tiny, its stock is extremely illiquid, revenue was growing from a very small base, and the big distribution deal we have been waiting for has yet to arrive. But the financial profile we originally hoped would emerge is starting to show itself.

As previously communicated, we’re continuing to share select higher-conviction ideas and research from my Cliff Notes Substack with GeoInvesting subscribers, alongside our regular research updates and additional deep-dive work. These pieces are part of our ongoing research process and complement the ideas and coverage we share with our current GeoInvesting subscribers.

The latest piece, “Picks and Shovels #3: Battery Energy Storage Systems and Their Bottlenecks,” takes a closer look at the rapidly expanding BESS market and, more importantly, where the economics and bottlenecks actually sit across the value chain. 

Last Sunday, we let you know that we were working on an updated write-up on a company to highlight its progress and share our views on the stock since we published our first write up on it in May 2024.

As you will see, it is now clear that the company has transformed from a struggling non-standard auto insurer into a consistently profitable business. One new takeaway from our research this week is that some of the bullish aspects of the company story are similar to those of property and casualty insurer Kingstone Companies, Inc (NASDAQ:KINS).

Recall that KINS benefited from competitors leaving the New York market, allowing it to capture market share.

Although KINS and the company operate in different insurance segments, it is still interesting that the company is seeing one of its competitors leave two key markets where the company is actually growing nicely.

Our feature this week will be a quick look at an insurance company trading at roughly a 60% discount to its peers, even though its growth and risk metrics are equal to or better than those of its peers. Later in the week, I’ll publish a deeper dive into the company and the industry. We opened the September Open Forum by reviewing the Buy on Pullback and Focus Model Portfolios, with much of the discussion centered on stocks where recent results or conference-call commentary strengthened our conviction. The Buy on Pullback portfolio has given back much of its early gain, but we remain focused on whether the underlying company developments are moving in the right direction rather than short-term portfolio performance.

It’s been a little over two months since Phase 1 kicked off, and some of these picks have been on a serious run. The live leaderboard is now available, so you can see how your pick is performing and where you currently stand against the competition.

If there’s one thing I really want to impart on you today in this week’s edition, it’s to start taking these information arbitrage Delta Sheets seriously, especially if you’re a deep-dive research stock picker. Don’t mistake the simplicity of their structure for something simplistic. Take it from someone who’s been doing this for over 30 years. I’m not just saying this because my team created Delta Sheets or because they won’t be free forever. I’m telling you right now: they will help you make money and protect your portfolio from special risk factors that may not have been mentioned in press releases.

We adding Our Feature Stock of the week to our Select Coverage Model Portfolio Universe. If our EPS estimates are on target, the stock should rise 180% to 250% over the next 18 months.

We first wrote up the stock in 2019, right before it went on a 1,367% move. To be clear, COVID was responsible for a good deal of this move. However,  the COVID “bump” eventually ended, so that sales and EPS comps did not look favorable since then… and the stock reversed most of the Multibagger rise.

I think it’s a good idea to do some deeper dives into some of the earnings reports we review within our microcap coverage universe to help you understand what we’re thinking about these companies. To that point, it’s also helpful for our team. So, we will be providing additional coverage on what we talked about during the week regarding RCMT and KLNG. The stocks were up 19.30% and 16.67%, respectively, on the heels of strong earnings reports last week. If you recall, RCMT basically stopped issuing earnings calls and, now, press releases after the fourth quarter of 2025. So it makes this analysis even more important. The cessation of communicating with investors appears to coincide with the company being part of a large data center project, which it still hasn’t formally talked about.