MicroCapClub

The Planet MicroCap Showcase: VEGAS 2025 was hosted in partnership with MicroCapClub. David (@Kingdomcapital) has been a member of MicroCapClub since 2021. Join MicroCapClub https://community.microcapclub.comYou can view his website at https://www.kingdomcapitaladvisors.com/Follow him on X https://x.com/kingdomcapadvMicroCapClub is an exclusive forum for experienced microcap investors focused on microcap companies (sub $500m market cap) trading on global markets. MicroCapClub was created to be a platform for experienced microcap investors to share and discuss stock ideas. Investors can join our community by applying to become a member or subscribing to gain access. MicroCapClub’s mission is to foster the highest quality microcap investor Community, produce Educational content for investors, and promote better Leadership in the microcap arena. For more information, visit http://microcapclub.com Disclaimer: Any information provided is for general information only and must never be considered a substitute for professional advice. SNN Network makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on our video. SNN Network may at any time and in our sole and absolute discretion remove, change or replace the information available on our channel, including comments.  SNN Network is not liable for any direct, incidental, consequential, indirect or punitive damages arising out of access to or use of any content available on our channel, regardless of the accuracy or completeness of any such content.  SNN Network disclaims any control over, relationship with, or endorsement of views expressed by other YouTube users.  Any links to other websites are provided as a convenience and SNN Network encourages you to read the privacy statements and terms of use of our site and any third-party websites.Disclaimer: The purpose of this presentation is for informational and educational purposes only and should not be construed as a recommendation to purchase or sell any security. MicroCapClub is not a registered investment advisor. MicroCapClub, its partners, members, subscribers, and affiliates may or may not hold positions in one or more of the securities mentioned on this program and may trade in such securities at any time. Do your own due diligence and seek counsel from a registered investment advisor before trading in any security.

The Planet MicroCap Showcase: VEGAS 2025 was hosted in partnership with MicroCapClub. Sebastian (@cinche61) has been a member of MicroCapClub since 2021.Join MicroCapClub https://community.microcapclub.comYou can read his writings on his Substack https://treasure-hunting.coFollow him on X https://x.com/SebKrog MicroCapClub is an exclusive forum for experienced microcap investors focused on microcap companies (sub $500m market cap) trading on global markets. MicroCapClub was created to be a platform for experienced microcap investors to share and discuss stock ideas. Investors can join our community by applying to become a member or subscribing to gain access. MicroCapClub’s mission is to foster the highest quality microcap investor Community, produce Educational content for investors, and promote better Leadership in the microcap arena. For more information, visit http://microcapclub.com Disclaimer: Any information provided is for general information only and must never be considered a substitute for professional advice. SNN Network makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on our video. SNN Network may at any time and in our sole and absolute discretion remove, change or replace the information available on our channel, including comments.  SNN Network is not liable for any direct, incidental, consequential, indirect or punitive damages arising out of access to or use of any content available on our channel, regardless of the accuracy or completeness of any such content.  SNN Network disclaims any control over, relationship with, or endorsement of views expressed by other YouTube users.  Any links to other websites are provided as a convenience and SNN Network encourages you to read the privacy statements and terms of use of our site and any third-party websites.Disclaimer: The purpose of this presentation is for informational and educational purposes only and should not be construed as a recommendation to purchase or sell any security. MicroCapClub is not a registered investment advisor. MicroCapClub, its partners, members, subscribers, and affiliates may or may not hold positions in one or more of the securities mentioned on this program and may trade in such securities at any time. Do your own due diligence and seek counsel from a registered investment advisor before trading in any security.

Sebastian Krog joins Adam Wilk to have a conversation with Morgan Frank, CEO of SANUWAVE Health (SNWV). This MicroCap Business Breakdowns discussion took place live on April 16th, 2025, on the MicroCapClub Community. https://microcapclub.com/join-now/Sanuwave is a medical device company that markets UltraMIST, a low frequency, non-contact, non thermal deep ultrasound system used in the treatment of complex and non-healing wounds. UltraMIST is an FDA cleared product that has schedule 1 CMS reimbursement under CPT code 97610 (one of only two companies entitled to use this code). The company has a classic “razor/razorblade” model of selling a system (list price $35,000) and then a disposable applicator (list price $100) for each procedure and its products are sold into hospitals, physician’s offices, wound care centers, mobile wound care providers, and nursing homes and skilled nursing facilities. Although system sales can be lumpy, the growing installed base has driven a steady increase in consumables sales which generally represent 55-65% of revenue. Full year 2024 revenues were $32.6 million, up 60% from full year 2023 revenues. The company initiated full year 2025 revenue guidance of $48-50 million for full year 2025 (an increase of 47-53% versus 2024). The company underwent a significant capital restructuring in October 2024 consummating a note and warrant exchange, a $10.3 million PIPE transaction, debt paydown, and 375:1 reverse stock split. As a result, the cap table is now clean and the company has 8.5 million common shares outstanding. The balance sheet is relatively healthy, with about $11 million in net debt. The company has been profitable and cash generative and aims to continue paying down debt from operating cash flow going forward.MicroCap Business Breakdowns (MCBB), powered by MicroCapClub, is a monthly program where we invite leaders of unique microcap businesses to have in depth conversations with the MicroCapClub member/investor that knows the business best. In each conversation we look to drill down into the history, business, strategy, vision, and bull/bear case. The MicroCapClub community can tune in live and ask questions. We publicize each episode 1-2 weeks after the live discussion. https://microcapclub.com Disclaimer: The purpose of this presentation is for informational and educational purposes only and should not be construed as a recommendation to purchase or sell any security. MicroCapClub is not a registered investment advisor. MicroCapClub, its partners, members, subscribers, and affiliates may or may not hold positions in one or more of the securities mentioned on this program and may trade in such securities at any time. Do your own due diligence and seek counsel from a registered investment advisor before trading in any security.

Olivier Colombo joins Adam Wilk to have a conversation with CEO Jason Vieth and CFO Anya Hamill of Laird Superfood (LSF). This MicroCap Business Breakdowns discussion took place live on April 2nd, 2025, on the MicroCapClub Community. https://microcapclub.com/join-now/Laird Superfood is an emerging consumer products platform focused on manufacturing and marketing highly differentiated plant-based and functional foods. The Laird Superfood brand is increasingly recognized and trusted by a growing number of consumers. The core pillars of the Laird Superfood platform are currently Superfood Creamer coffee creamers, Hydrate hydration products and beverage enhancing supplements, and roasted and instant coffees, teas and hot chocolate. All products are plant-based, clean, with functional ingredients that are on trend with consumers.LSF IPO’d on the Nasdaq in late 2020 at $22 per share, and quickly ascended to $60 per share. It was a prime example of the “growth at all costs” boom at that time. In 2022, LSF produced $35 million in sales and lost $24 million. The stock fell from $60 per share to $2 per share.In 2022, CEO Jason Vieth and CFO Anya Hamill stepped in to turn the company around. Both executives came from WhiteWave which was acquired by Danone in 2017. Ironically Danone also invested $10 million in the LSF IPO. The duo has produced a remarkable turnaround. In two years, the company has gone from losing $24 million on $35 million in sales, to producing positive cash flow on $43 million in sales.A category leading, authentic consumer products company that makes money is rare to find in a sub-$100 million public company. The peer group trades at 1-3x sales, with the higher multiples going to companies that are growing double digits and profitable. Management gave guidance for 20-25% growth in 2025. https://lairdsuperfood.comMicroCap Business Breakdowns (MCBB), powered by MicroCapClub, is a monthly program where we invite leaders of unique microcap businesses to have in depth conversations with the MicroCapClub member/investor that knows the business best. In each conversation we look to drill down into the history, business, strategy, vision, and bull/bear case. The MicroCapClub community can tune in live and ask questions. We publicize each episode 1-2 weeks after the live discussion. https://microcapclub.com Disclaimer: The purpose of this presentation is for informational and educational purposes only and should not be construed as a recommendation to purchase or sell any security. MicroCapClub is not a registered investment advisor. MicroCapClub, its partners, members, subscribers, and affiliates may or may not hold positions in one or more of the securities mentioned on this program and may trade in such securities at any time. Do your own due diligence and seek counsel from a registered investment advisor before trading in any security.

Stephen De Beir joins Adam Wilk to have a conversation with Joseph Thompson, COO of KITS Eyecare (TSX: KITS / OTC:KTYCF). This MicroCap Business Breakdowns discussion took place live on March 12th, 2025, on the MicroCapClub Community. https://microcapclub.com/join-now/KITS Eyecare is a fast-growing e-commerce retailer of glasses, contacts and accessories. KITS offers customers access to a vast selection of contact lenses and eyeglasses, including their own exclusive KITS designed products, as well as a robust suite of online vision tools. KITS technology stack along with their industry leading manufacturing process removes the middle-man from eyecare retail and allows them to offer wide selection and low prices. Founder and CEO Roger Hardy founded Coastal Contacts in 2000 grew the company into the world’s largest online eyewear retailer which he then sold to Essilor in 2014 for CAD $430 million. KITS was founded in 2019 and applies all the learnings from Coastal along with Roger’s post-Coastal ventures toward becoming the premier destination for low-cost online eyewear. Management (Roger and his co-founders) own 73% of shares outstanding.KITS has become the fastest-growing optical company to achieve a $150 million revenue run rate, from a standing start. Kits has grown at an average of 26% for the past 8 quarters, boasts over 1 million customers, and currently represents less than 1% of the optical industry total addressable market. Management is aiming for $250mm in revenues within 2-3 years, and $500mm in sales within five years after that. https://www.kits.comMicroCap Business Breakdowns (MCBB), powered by MicroCapClub, is a monthly program where we invite leaders of unique microcap businesses to have in depth conversations with the MicroCapClub member/investor that knows the business best. In each conversation we look to drill down into the history, business, strategy, vision, and bull/bear case. The MicroCapClub community can tune in live and ask questions. We publicize each episode 1-2 weeks after the live discussion. https://microcapclub.com Disclaimer: The purpose of this presentation is for informational and educational purposes only and should not be construed as a recommendation to purchase or sell any security. MicroCapClub is not a registered investment advisor. MicroCapClub, its partners, members, subscribers, and affiliates may or may not hold positions in one or more of the securities mentioned on this program and may trade in such securities at any time. Do your own due diligence and seek counsel from a registered investment advisor before trading in any security.

Mark Zaret from Teraz Fund joins Sean Iddings to have a conversation with CEO Shawn Wilson of BuildDirect (TSX-V: BILD, OTC: BDCTF). This MicroCap Business Breakdowns discussion took place live on March 6th, 2025, on the MicroCapClub Community. https://microcapclub.com/join-now/BuildDirect is focused on growing its presence in the North American flooring market through the organic development and acquisition of profitable brick-and-mortar locations known as ‘Pro Centers’. By consolidating a portion of the $90+ billion North American flooring market, BuildDirect aims to establish a solid foundation for future product expansion. BILD has strong momentum under its new leadership, with CEO Shawn Wilson and CFO Kerry Biggs—both seasoned executives with the expertise to drive results. They have reduced BILD’s cost of capital by renegotiating loans, streamlined their software systems, and focused on repeat pro customers (contractors) while expanding with new locations. These changes were made without harming BILD’s capital structure and with strong backing from major shareholders—three multi-billion-dollar entities that control ~80% of the shares.With a current run rate of ~US$70M and a market cap at 0.6X sales, BILD is well-positioned to consolidate the highly fragmented flooring industry, which is dominated by small independent operators. Management’s goal is to grow from nine locations to 50+ locations using a disciplined, capital efficient, high IRR approach. Strong leadership, a tight share structure, and improving business fundamentals could set the stage for significant shareholder gains in the coming years. https://www.builddirect.comMicroCap Business Breakdowns (MCBB), powered by MicroCapClub, is a monthly program where we invite leaders of unique microcap businesses to have in depth conversations with the MicroCapClub member/investor that knows the business best. In each conversation we look to drill down into the history, business, strategy, vision, and bull/bear case. The MicroCapClub community can tune in live and ask questions. We publicize each episode 1-2 weeks after the live discussion. https://microcapclub.com Disclaimer: The purpose of this presentation is for informational and educational purposes only and should not be construed as a recommendation to purchase or sell any security. MicroCapClub is not a registered investment advisor. MicroCapClub, its partners, members, subscribers, and affiliates may or may not hold positions in one or more of the securities mentioned on this program and may trade in such securities at any time. Do your own due diligence and seek counsel from a registered investment advisor before trading in any security.

Jesse Gamble from Donville Kent Asset Management joins Adam Wilk to have a conversation with co-founder and President Desmond O’Kell of Enterprise Group (E.TO). This MicroCap Business Breakdowns discussion took place live on February 20th, 2025, on the MicroCapClub Community. https://microcapclub.com/join-now/About Enterprise Group: Enterprise Group is a leading provider of specialized equipment and services to the energy, pipeline, and infrastructure industries, is positioned for significant growth. Based in Alberta, Canada, Enterprise operates through four divisions: Evolution Power Projects, Westar Oilfield Rentals, Arctic Therm International and Hart Oil Field Rentals. With a strategic focus on natural gas-related services, the company benefits from its competitive positioning and growth opportunities in the Canadian energy sector. Enterprise Group's services are closely tied to the natural gas industry, specifically in western Canada, where the company operates. Western Canada is a key natural gas-producing region, and its industry is poised for further expansion due to the ongoing development of liquefied natural gas (LNG) facilities. With the anticipated increase in LNG exports, Canada is set to become a top-10 LNG exporter by 2028, creating a strong tailwind for Enterprise Group’s growth.Enterprise Group presents an interesting investment opportunity, underpinned by its leadership position in a growing market, a strong competitive moat through its natural gas-powered solutions, and a proven ability to execute both organic and acquisition-driven growth strategies. The anticipated forthcoming LNG boom in Canada provides a significant tailwind for the company, and its financial performance indicates that it is well-positioned to capitalize on this opportunity. https://enterprisegrp.caAbout Jess Gamble: MicroCapClub: @IRAMLinkedIn: https://www.linkedin.com/in/jesse-gamble-ba373730/?originalSubdomain=caFirm: https://donvillekent.comAbout Adam Wilk: MicroCapClub: @Greystone Capital ManagementX: https://x.com/AKWilkLinkedIn: https://www.linkedin.com/in/adam-wilk-64791a139/Firm: https://www.greystonevalue.comMicroCap Business Breakdowns (MCBB), powered by MicroCapClub, is a monthly program where we invite leaders of unique microcap businesses to have in depth conversations with the MicroCapClub member/investor that knows the business best. In each conversation we look to drill down into the history, business, strategy, vision, and bull/bear case. The MicroCapClub community can tune in live and ask questions. We publicize each episode 1-2 weeks after the live discussion. https://microcapclub.com Disclaimer: The purpose of this presentation is for informational and educational purposes only and should not be construed as a recommendation to purchase or sell any security. MicroCapClub is not a registered investment advisor. MicroCapClub, its partners, members, subscribers, and affiliates may or may not hold positions in one or more of the securities mentioned on this program and may trade in such securities at any time. Do your own due diligence and seek counsel from a registered investment advisor before trading in any security.

Sean Iddings joins full-time private investor Mark Vonderwell, to have a conversation with CEO J. T. Fitzgerald and CFO Kent Hansen of Kingsway Financial Services (KFS). This MicroCap Business Breakdowns discussion took place live on January 9th, 2024, on the MicroCapClub Community. https://microcapclub.com/join-now/ About Kingsway Financial Services: Kingsway Financial Service’s base business offering warranties for automobiles and HVAC systems generates the cash for their fledgling search funds business. Under Kingsway’s Search Xcelerator program, new business school graduates, using Kingsway’s capital leveraged with bank loans, purchase very small private companies from retiring founders and become the chief executive officers. While Kingsway owns the businesses, the “operators in residence” are compensated based highly on the acquired business performance. To date, Kingsway has had five operators-in-residence acquire six companies. Currently four more business school graduates are searching for an acquisition, with a goal to add two or three companies each year. J.T. Fitzgerald became Kingsway’s CEO in September 2018 after joining the company when the private firm that he founded to invest in search funds, Argo Investment Management, was acquired by Kingsway in 2016. According to a Stanford Business School study, search funds have historically produced a 30%+ average return, albeit mostly middling returns aided by a small percentage of extraordinary winners. Fitzgerald hopes to improve on the historical success rate by aiding young operators in residence both in acquiring and operating companies with the counsel of experienced businessmen. An advisory board formed in 2022 includes Will Thorndike, an experienced search fund investor and author of the 2012 book titled “The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success” and retired, phenomenally successful Danaher ceo Thomas Joyce. Further boosting returns, Kingsway’s search acquisitions are shielded from taxation by over $700 million in tax net-operating loss carryforwards created by their shut down casualty insurance operations. Kingsway attracts potential operators in residence by providing capital and credibility, helping with legal contracts, and sharing a successful operating framework derived from Fitzgerald’s prior experience with the Danaher Business System. https://kingsway-financial.com MicroCap Business Breakdowns (MCBB), powered by MicroCapClub, is a monthly program where we invite leaders of unique microcap businesses to have in depth conversations with the MicroCapClub member/investor that knows the business best. In each conversation we look to drill down into the history, business, strategy, vision, and bull/bear case. The MicroCapClub community can tune in live and ask questions. We publicize each episode 1-2 weeks after the live discussion. https://microcapclub.com  Disclaimer: The purpose of this presentation is for informational and educational purposes only and should not be construed as a recommendation to purchase or sell any security. MicroCapClub is not a registered investment advisor. MicroCapClub, its partners, members, subscribers, and affiliates may or may not hold positions in one or more of the securities mentioned on this program and may trade in such securities at any time. Do your own due diligence and seek counsel from a registered investment advisor before trading in any security.

Michael Melby, founder of Gate City Capital Management, shares his journey from a small Montana town to successful microcap investing. He discusses the principles of deep value investing and the significance of understanding management teams beyond just numbers. Melby emphasizes the importance of rigorous financial analysis and personal relationships with investors. He also reveals how company visits impact investment decisions and the evolving strategies his team adopts, blending qualitative and quantitative insights for long-term success.

Harris Perlman is a private full-time investor focused mainly on microcap stocks. During this conversation we talk about a wide variety of topics. Join MicroCapClub and unlock the ability to listen and participate live in these discussions. https://microcapclub.com/join-now/ About Harris Perlman: MicroCapClub: @Harris Perlman – Member since 2014 X: https://x.com/OtterMarket About MicroCapClub MicroCapClub is an exclusive forum for experienced microcap investors focused on microcap companies (sub $500m market cap) trading on United States, Canadian, European, and Australian markets. MicroCapClub was created to be a platform for experienced microcap investors to share and discuss stock ideas. Since 2011, our members have profiled 1200+ microcap companies. Investors can join our community by applying to become a member or subscribing to gain instant view only access. MicroCapClub’s mission is to foster the highest quality microcap investor Community, produce Educational content for investors, and promote better Leadership in the microcap arena. For more information: https://microcapclub.com Chapters 00:08 Disclaimer 01:03 Intro & Harris’s Background 02:00 Current Market Environment 04:45 Investing Philosophy And Strategy 13:04 Early Investment Wins 17:57 Harris’s Path to Full-Time Investing 22:34 Navigating Challenges And Stress 25:32 Investment Style And Core Portfolio 29:06 Collaboration And Networking In Investing 42:10 Typical Day 48:06 Thoughts on Managing Outside Capital 52:00 Communication Style 56:36 Learning Accounting And Competitive Analysis 59:18 Audience Q&A 01:05:40 Final Thoughts & Closing Remarks Disclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.