BUSXF - Currently $1.24 Established bus manufacturer that supplies municipalities in Canada. I like it at these price levels because this where their recent (oversubscribed) capital raise was this past November ($1.18 USD). About $10 million CAD in cash after the capital raise. Estimated to have $203.47M CAD in 2021 revenue Currently $134.4M CAD enterprise value (0.66 EV/21 Rev) when including recent cash raise. Grandwest Corporation -30% of the shares owned by insiders. -Established bus maker in Canada with municipal contracts, better bus specs etc. -Just got their Buy American distribution license -Recently raised $8 million CAD dollars at around these stock prices ($1.18 USD) -CEO said they make 20% margins on most of their busses. -Electric Busses - They have orders for $15+ million EV busses next year. Integrating with BMW/Lion engines Link here Just changed their USA ticker symbol to BUSXF. Uplisting to the NASDAQ early next year, where it will get much higher valuations. Only valued at $100MM USD market cap now, could be 5x that much on the Nasdaq. Investor Presentation Vehicle Specification Sheet
Here's their interview with Smallcap Discoveries They are also presenting at the SNN Network Canada Event - Thur Jan 7, 2020 at 12:30 PM est https://www.webcaster4.com/Webcast/Page/2059/39340
The company just reported they are delivering $40 million cad in revenue by Q2 2021 link To get a feel for the potential Grand West has look at the valuation and performance of GPV.v (GreenPower). GPV.V (Nasdaq GP) started planning for the Nasdaq in Mid August. And this is for GreenPower, which is the subject of a big short report by White Diamond Research link Grand West is an established OEM and bus maker, not a fake bus importer that attaches electric batteries and resells it. GreenPower also doesn't have their Buy American certification. Grand West has a lot more potential with their nasdaq move. They are also opening a manufacturing plant in Washington state to be close to their Canadian HQ and access the west coast of America. They can also get state subsidies and address the millions in electric project that are planned for bus purchases and upgrades. See Andrew Cuomo's announcement for New York here link Hop on the BUS / BUSXF while it's still at a great value and before the Nasdaq/EV hype starts.
Breaking out. Also with Dems securing both houses EV plays look much better. Chart courtesy of @agstockpicks on Twitter.
Great move thus far, doubling since my post. Good buying happened at the $3 cad support level and ready for the next leg up. A summary from the Yahoo discussion board: In the SmallCap discoveries video (above) the CEO mentions the ultimate goal being 6,000 units, more their near-term stated goal is 1,000 units/buses per year (see their investor presentation on their website). 1000 units x $300,000 per unit (roughly) = $300MM in revenue per year. Taking a conservative multiple on revenue of 5x (instead of the normal 10X) 1,000 units is $1.5 billion marketcap Equates to $17 USD per share conservatively The CEO also said their breakeven point is 100 units so they will be profitable over this level. Note that they have 90 units to be delivered right now (so they are close to profitability right now without counting any new orders taken in 2021). So as you can see this share price is severely undervalued right now.
