Werner Muehelemann Allon Therapeutics Inc. NPC-T COMMENT May 28, 2008

Covered by one analyst. It is a turn around, re-org situation with a bright new management. It is going to forge upwards. It should start to move shortly. He loves to believe he is the first investor.

An infrastructure play. He came across this Quebec based company that provides services to gas and electricity companies with 80% in the North-East US. They are benefitting from a huge infrastructure program. The opportunities could grow as the US spends even more money on it. They have long established operations in the US with stellar reputations for execution and safety. No Dividend. (Analysts’ Target: $1.60)

A nice small-cap company. It is ignored in the rally at the moment. This is under new management. A service provider to the Public utility and heavy industrial markets, mainly in Québec and Ontario and eastern US. They build and maintain electrical transmission distribution grids as well as networks for gas utilities. He still likes this.

One of the leading construction and maintenance services to electrical and gas utilities. Over 80% of revenues come from the US. They will definitely benefit from more infrastructure spending, but have a huge backlog of work right now. The gas and electrical transmission lines in the US are being replaced and expanded. Made a couple of very accretive acquisitions which should start kicking in soon. Very cheap, trading at under 6X EBITDA. (Analysts’ price target is $1.38.)

They had very good results last quarter, but it is still a ‘show me’ story to a lot of people. There are big investors accumulating in the name. If management delivers on promises the stock price should go a lot higher.

(A Top Pick June 9/16. Up 6.9%.) He is very pleased with this because it has been underwater for a time. It has reconstituted itself with a management change at the top. It’s into infrastructure and electrical systems. Feels it is on the way to becoming something quite important, especially in the Northeast US where they bought a subsidiary a couple of years ago.

(A Top Pick Dec 12/16, Up 95%) They were acquiring companies in the US and are getting acquired themselves. The amount of work going on in the US for infrastructure repair is huge. It will be a 20 or 30 year run and so were attractive. He is hanging on for a better bid.

(A Top Pick Dec 12/16, Up 88.23%) At least one major shareholder is not tendering. We will see what happens in the next week or so. They announced quite a few contracts in the last few weeks. He has hung on to his shares, waiting for a higher price.

(A Top Pick March 22, 2017. Up 85.23%). This was acquired by Oaktree earlier this year. He owns about 5% of the company and made 100% on his money in a year on this asset.