This is a company specializing in distribution of IT products. Hmm sounds quite sunset. For more info you can see the website below.
With Cash at $18749 and Properties valued at $18608. This company has a Net tangible asset value of $37357. From its balance sheet it does not have any long term liabilities. So current liabilities stand at $3646. So with its share base of 173289, Powermatic data system ltd has a NTA per share of 0.194 which it is trading now at about 8% discount(current share price is 0.182).
However you need to take note that this is an illiquid stock so the price is only as good as the seller who wants to sell it to you. Collecting this share will take lots of time. Let us take a look at its dividends history.
They have given dividends from 1993 – 2003 and then stopped until 2008. Lets take a look at the dividends history since 2008. (Note this data was retrieved from an app and may not be 100% accurate) Ignoring the 2003- 2008 period. It maintains a steady dividend stream of $0.01. – This feels like Nat steel.
2008 – $0.01
2009 – $0.01
2010 – $0.01
2011 – $0.01
2012 – $0.01
2013 – $0.01
2014 – $0.01
Vested in it due to the steady stream of dividends and the assumption that the dividends can be maintain. This is a case of buy the assets and get the business for free. By the way I am still collecting it at $0.182. Patience is the key. No point pressing up the price as this will affect my dividends yield. Strategy for me is to collect dividends(>5%) for this counter while waiting for value to be unlocked.