We’re excited to announce our next Skull Session Event! This Monday 2PM Eastern Time, we’ll be hosting a Fireside Chat with the new CTO of Qualstar Corp. (OOTC:QBAK). I am extremely excited about this one. The company is sitting in the center of a growth trend that we haven’t covered in the data center and AI world yet: off cloud storage solutions.

Speaking of events, last week, we hosted a Skull Session with Adrian Courtenay (@ACourtenEye, LinkedIn) of GA-Courtenay Special Situations Fund, who shared his framework for identifying special situations and catalyst-driven opportunities, especially when it comes to merger arbitrage. By the way, Adrian has just published a book titled The Super Organisation Secret on the subject, which you can check out here. 

You know that we are big on information arbitrage, so this chat really resonated with me. I came across Adrian while perusing interviews at Sunday’s Idea Brunch Substack. 

This week we had a skull session event with the CEO of Aluula Composites Inc (OOTC:AUUAF) (TSXV:AUUA), earnings coverage on PPIH and CSBR and an addition of a stock to one of our model portfolios, partly motivated by how Oracle Corporation (NYSE:ORCL)’s surging demand in it’s cloud revenue is telegraphing good things for this company.

The Skull Session highlight of the week was our “You Make The Call” chat with Sage Berryman, CEO of Aluula Composites Inc (OOTC:AUUAF) (TSXV:AUUA). The company manufactures and sells composite materials that are used in sectors like wind sports, outdoor gear, sailing, and other commercial applications. By the way, the company will be attending the Planet MicroCap conference in Toronto, Canada on October 22, 2025.

This was our second “You Make The Call” event. Our first was the result of Brett Mass of Hayden IR, suggesting that we should interview AZ, even though AZ didn’t meet the criteria of factors we normally look for when inviting companies to present on our Skull Sessions platform. However, we were attracted to AZ smart shopping cart product category, so that’s how we came up with the “You Make The Call” event. Let’s see if they can convince us to at least track the company.

The standout this week was our fireside chat with Nik Raman, CEO of $PXHI (used phone reseller/platform). Nik walked us through the company’s journey, from scrappy early iterations of a consumer-facing phone recycling platform to what it is today: a B2B software play quietly building mission-critical infrastructure behind the global used phone supply chain. On the day of the chat, the company announced a special dividend of $1.15, which temporarily sent the stock up 30%.

This week’s update recaps highlights from our September Open Forum, including August performance stats across our coverage universe, biggest movers, and new highs. And a last-second move, I also added a new name to our Focus Model Portfolio, an idea that emerged from real-time discussion and conviction that I was talking out loud about, and then it just hit me, why haven’t I added this to the Model Portfolio?🤯 

Even though we record and archive all of our video events, it’s situations like this that motivate me to remind you that attending our live events can be incredibly beneficial… it makes our Open Forums valuable beyond prepared slides.

Second quarter earnings season is essentially over, but this week was one of our busier weeks of video content with Investor Insights Skull Sessions highlighting Edwin Dorsey of The Bear Cave & Sunday’s Idea Brunch Substacks and Hugo Navarro from the Small Cap Treasures Substack. I have to say that these were amazing chats. Edwin and I talked about China Fraud and the new stuff he’s doing to help protect investors. Hugo is absolutely on fire with some of his recent stock picks.

The big news this week was that we officially closed Buy on Pullback Portfolio #13, with an average return of 50.2%. Our last three BOPs have now had a pretty impressive streak, with returns of 45.3%, 30.6% and 50.2% over an average time span of 8 months.

We actually highlighted BOP 13 in last week’s Sunday post. Here was the official closure announcement:

There’s no doubt that the BOP is turning out to be our best and most consistent high-returning model portfolio.

Here’s some stats to put this history, that started in 2016, into perspective.

Second quarter earnings season insights and live events…(including the August Monthly Forum, a fireside to understand the turnaround going on at ASYS, and a post-second-quarter management briefing chat with TGEN. Watch the TGEN discussion here.)…dominated our time last week, reminding us that we’re entering a stretch of potential inflection points for several companies we’ve been closely tracking.Although we’re waiting on real data center contract momentum from Fuel Tech, Inc. (NASDAQ:FTEK) and Tecogen Inc. (NYSE:TGEN), we’re extremely excited that our pipeline of legitimate, boring industrial-type companies that could potentially benefit from data center trends continues to grow.

The 2025 second-quarter earnings season is entering its final week. We all know what that means…microcap earnings reports are about to be dumped upon us. As much of an inconvenience this causes during every earning season, it also creates chances to uncover great stories that get lost. I like to think a reason you have “hired” us is to help you maintain your investing edge during these times, and why we hope you will continue to see Geoinvesting as a key part of your microcap research process.

I have been expanding our team to make sure we continue to give you a first mover advantage. The competition to find information arbitrage intensifies, we think partly because we showcased how successful this strategy can be in the microcap world.

Now onto business. This past week, we highlighted 34 earnings reports in our morning emails. You can visit our morning email archives here. The represented industries spanning