Conclusion 2019: The company with dozens of employees and sales of EUR 1 million (with an m) is burning through cash. It can't find a new auditor, it legally has to switch every few years.... It is difficult to say how the company will do in the future. Still not an investment for the Graham Defensive investors even if the share price falls further.
Too difficult pile. Making a relatively large loss, so Graham Value coulb be considered to be 0.
Book value EUR 2 including a lot on intangibles..
Market cap roughly EUR 4m ... Loss EUR 2m.
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