STOCKCHASE

6.440

Sold his holdings about 3 months ago. Huge amount of chaos is happening in cell phone attacking cell phone tower and carriers are trying to figure out how to get the information back to central office. This company provides a direct line of sight microwave capability. Single customer concentration and have not been able to get contracts from other clients so earnings are expected to deteriorate by 31%. Prefers Sandvine (SVC-T) or Redknee (RKN-T).

2010-06-18

BUY

Sandvine Corp.

SVC-T

2.120

Good opportunity for solutions on cell phone attacking cell phone towers.

2010-06-18

BUY

1.740

Currently processing canola and extracting proteins. Management is confident they will hit end of July target and will start producing high quality proteins (Icelets?), which are extremely high margin. Expecting confidence in investors by year-end. Starting a 2nd plant in North Dakota.

2010-06-18

DON'T BUY

Wavefront Energy & Environment Services

0.055

Produces a very small x-ray device that requires no maintenance. Have not been able to increase sales. No information or earnings estimates from analysts.

2010-06-18

Comment

Zed.i Solutions Inc

ZED-X

0.530

Not active in his database so doesn't have much analytical insight on it. Stock prices moving up.

2010-06-18

WATCH

Cisco

CSCO-Q

23.490

New product upgrade underway. Currently spending a bucket of money getting new sales staff. Also moved into servers that are in competition with some of their end customers. New products in routing and switching will be a benefit. Stock price will be range bound but is a stock to keep an eye on.

2010-06-18

Comment

BCE Inc.

BCE-T

31.000

Tempted on this for his income portfolio. Overall earnings are up 12% year-over-year. Coming quarter earnings are expected to be up 24%. Good for income investors but for growth there are better opportunities.

2010-06-18

SPECULATIVE BUY

WEE-X

2.380

Technology that uses water stimulation for better oil recovery. Rents the equipment out and usually is out for 7 years. 4-month rental pays for the tool. With 150 tools in the ground and working, they end up with a phenomenal revenue stream. Very speculative.

2010-03-18

DON'T BUY

10.590

Ranks well in his model. Has scaled back half his position because of stock price increase. Recently announced a small contract in Greece. Doing a stock buyback on approximately 10%. Longer-term growth is slowing. Huge customer in Clearwater but once this starts to burn off there is a question about replacements. Growth is flat for 2010. 13 PE with earnings $.89 in 2009 and $.88 forecast for Feb/11.

2010-03-18

WAIT

Neo Material Technoligies Inc.

1.900

Extracts oil/protein meal from canola. Have to get equipment into the plant for commercial production on extraction of high margin/high concentration protein (Isolets?) by the end of May but could be delayed by a month or so. Just did a financing of $15 million at $1.85. Historically have done well with financing and the stock has moved up. Wait for stock to start moving up ($2.25?).

2010-03-18

DON'T BUY

Mad Catz Interactive

MCZ-T

0.500

Ranks in top 25% of his model because of price action but forecasted not to make any money in 2010 and the loss of $.10. Has not talked to management or seen analysts’ forecast for 3 years.

2010-03-18

SPECULATIVE BUY

Multiplied Media Corp

MMC-X

0.240

Application allowing you to use a cell phone to 1) access advertising and Yellow Pages and 2) purchase tickets. Have 2 million users. Have an application on Blackberry that has done quite well and are now rolling it out to the Apple iPhone. (Bob recently participated in some financing.) Very speculative.

2010-03-18

SPECULATIVE BUY

Wi-Lan Inc.

WIN-T

2.990

Collect royalties on patents. (Also see Mosaid (MSD-T)) Backlogs rather than near-term earnings, so Ranks about neutral in his model. Markman hearings were held last week and should be a report in 90 days and expects it will be in their favour. Extremely interesting patent portfolio, which he expects will pay off in the next 1.5 to 2 years.

2010-03-18

SPECULATIVE BUY

Sandvine Corp.

SVC-T

2.050

Deep packet inspection for cable internet in order to smooth information flow. Also looking at potential applications in wireless.

2010-03-18

TOP PICK

Zarlink

ZL-T

1.940

Semiconductors. Fallen angel but now getting its sweet spot. Moving away from commodity chips into specialty medical devices. Earnings estimates have been cranked up by 26%. Expecting $.15 in March/10, which is 50% greater than last year. Looking for a further 40% earnings to 2011. 37% ROE.

2010-03-18

TOP PICK

Martinrea

MRE-T

9.320

Automotive parts. Expect like the automotive sector it is a turnaround. $750 million market cap. Very strong balance sheet, which is used to make acquisitions of smaller companies and their customer lists. $.70 earnings for 2010 to $.90 in 2011 gives a 13% PE in 2010.

2010-03-18

TOP PICK

NEM-T

4.350

Uses neodymium, a rare earth material to produce high-powered magnets, which are used in computer/cell phone applications as well as automobiles. Earnings $.18 in 09 growing by almost 80% to $.33 in 2010.

2010-03-18

PAST TOP PICK

SXC Health Solutions Corp.

SXC-T

65.740

(A Top Pick March 11/09. Up 161.34%.) Sold this in November or it

2010-03-18

PAST TOP PICK

Biovail Corp.

BVF-T

16.020

(A Top Pick March 11/09. Up 16.59%.) Sold this in March.

2010-03-18

PAST TOP PICK

CGI Group (A)

GIB.A-T

15.280

(A Top Pick March 11/09. Up 63.49%.) Still likes.

2010-03-18

TOP PICK

Golden Star Resources

GSC-T

3.840

Producing about 400,000 ounces of gold in Ghana and have about $.9 billion. Trades at about 5.5X cash flow. Cheap at 16.8X PE for 2010. 46% earnings growth forecast for 2011.

2009-11-17

TOP PICK

Martinrea

MRE-T

8.000

Manufacture auto parts. Great opportunities to grow through acquisitions. $.63 earnings forecast for 2010 with a 12.5 PE, declining to an 8.3 PE in 2011 with 49% earnings growth.

2009-11-17

TOP PICK

Neo Material Technoligies Inc.

NEM-T

4.360

Makes neodymium for high-strength magnets. Keen on Netbook sales because Intel decided to limit memory and screen size with flash drive but users wanted to store a lot. Expect 40 million net books to be sold in the coming year. 12.8X PE for 2010.

2009-11-17

Comment

Superior Plus Corp

SPB-T

12.630

Just made a purchase to acquire some tax pools. This is a huge advantage for a transition from a trust and was done at a very good price.

2009-11-17

BUY

iseemedia Inc

IEE-X

0.180

Developed software that can change a cheap cell phone to have RIM-like (RIM-T) functionality, such as e-mail, on a very modified basis. Have signed up a large number of emerging-market carriers. Very speculative and you should know in 6 months if they go up or blow up.

2009-11-17

DON'T BUY

Bridgewater Systems Corp.

0.070

Aren't producing much in the way of earnings. Ranks 461 out of 600 companies in his database. Expecting to lose $0.07 this year and $0.04 in 2010.

2009-11-17

HOLD

BWC-T

8.380

In the top 10% of his database. Recent earnings were good and earnings estimates went up by 23% with a 7% earnings surprise. Earnings are supposed to grow 41% in 2010 but market has some concerns because most of this will be backend loaded. Keen on their product.

2009-11-17

DON'T BUY

Osisko Exploration Ltd.

OSK-T

8.050

Ranks 376 in his database because year-over-year earnings were down 40% with an 8% negative earnings surprise. Expected to lose $.04 in 2009 with not much improvement in 2010. He prefers companies in the gold space that are actually producing 15% per year in earnings or better.

2009-11-17

BUY

Aecon Group Inc

ARE-T

14.050

Signed a new contract sooner and larger than expected, which is why people are excited. Ranks 209. Not keen near term because recent earnings were down 22% and coming quarter is supposed to be down 25%. However earnings growth for 2010 is expected to be 23% against a 14 PE, which is attractive.

2009-11-17

PAST TOP PICK

SXC Health Solutions Corp.

SXC-T

56.150

(A Top Pick Jan 26/09. Up 171%.) Has done really well and continues to gain market share but slipped out of the top 25% of his database so he sold his holdings. 26X PE for 14% earnings growth is expensive.

2009-11-17

PAST TOP PICK

Biovail Corp.

BVF-T

13.730

(A Top Pick Jan 26/09. Up 11%.) Ranks 496 in his database and year-over-year earnings were down 4%. Can't see any growth so he sold.

2009-11-17

PAST TOP PICK

CGI Group (A)

GIB.A-T

13.100

(A Top Pick Jan 26/09. Up 35%.) 14% earnings surprise. $1.09 forecasted earnings for 2010, up 8%. Not expensive at 12X PE. Other stocks he prefers.

2009-11-17

Comment

BCE Inc.

BCE-T

27.210

Getting more competition. Recent earnings were down. Sleepy conservative company at 11X PE. Will be able to maintain the dividend. 13% ROE. Okay if you want dividends but better choices for growth.

2009-11-17

Comment

Suncor Energy Inc

SU-T

38.880

Thinks oil will trade above $80 and if it breaks through $82 the stock could go up another $7. Ranks very low in his database.

2009-11-17

BUY

Bank of Nova Scotia

BNS-T

49.000

Most international of the Canadian banks and if holding for 5 years you should be happy. Good conservative investment.

2009-11-17

WAIT

First Uranium Corporation

FIU-T

2.150

Gold/uranium in South Africa. Analysts chopped estimates by 95% in the last 90 days. Expected to lose $.12 in 2009 and $.30 in 2010. Earnings in 2011 are supposed to go positive at $.66. Wait to see if they get the mine actually producing.

2009-11-17

WATCH

Agrium

AGU-T

58.550

Doesn't rank well in his database. Year-over-year earnings down 91% and coming quarter expected to be down 88%. Last quarter had a 52% negative earnings surprise. Earnings expected to grow 72% in $2010 to $5.43 against a 10 PE, which is reasonable. Once corn/wheat start moving up things should start improving.

2009-11-17

Comment

Indigo Books & Music Inc.

IDG-T

13.340

Advent of digital books and e-readers is an opportunity for them. Near-term earnings are going down a bit as they put money towards the electronic initiative. Earnings were down 21% year-over-year and coming quarter expected to be up 6%. Earnings expected to slip from $1.22 in 09 to $1.17 in 10 and forecasting 15% growth in 2011. 11X PE.

2009-11-17

Comment

Noveko International Inc.

EKO-T

2.140

Superfine air filters with antibacterial coating as well as industrial size filters for pig and chicken farming. Interesting speculation.

2009-11-17

BUY

9.230

Microwave backhaul, which is much cheaper and faster than current methodology. Great opportunity as huge traffic returns to cell phones. Earnings up 485%. Expected to slow down but pretty brisk earnings forecast of 64% for 2010. 24% decline in earnings forecasted for 2011.

2009-11-17

HOLD

Rubicon Minerals Corporation

2.010

(Market Call Minute.) Moving towards extracting canola protein and results are expected in March.

2009-11-17

DON'T BUY

Intrinsyc Software Inc

ICS-T

0.090

(Market Call Minute.) In the bottom category of his database. Not expected to earn any money in 2010.

2009-11-17

DON'T BUY

RMX-T

4.470

(Market Call Minute.) Ranks 147 in his database. Forecasting bigger losses in 2010.

2009-11-17

BUY

Sino-Forest Corp

TRE-T

19.560

(Market Call Minute.) Thinks this one will do well. 26% earnings growth. Expect you will be happy a year from now.

2009-11-17

TOP PICK

Neo Material Technoligies Inc.

NEM-T

3.860

Makes dinium (?), rare earth mineral that is used in small high intensity magnets for things such as hard drives in notebooks and automotive uses (power windows, power seats). In the top 2% of his database. 12.5 PE. Cheap.

2009-09-15

TOP PICK

Bridgewater Systems Corp.

7.600

Makes basically a microwave backhaul. When everyone is using cell phones and sending video it overwhelms the current backhaul. Earnings are forecast at $.31 for Feb/10, almost doubling to $.58 to Feb/11. 12.5 PE. 22% ROE. Lots more growth to come.

2009-09-15

TOP PICK

BWC-T

8.290

Software that authorizes and authenticates what happens on a cell phone. Just signed a $19 million contract, which suggests that they have half of their sales in the bag already for 2010. Expected to earn $.38 Dec/09 and expected to rise by 31%.

2009-09-15

PAST TOP PICK

Migao Corp.

MGO-T

6.970

(A Top Pick Jan 26/09. Up 19.44%.) Slipped back in the ranks because of concerns of the overall fertilizer space.

2009-09-15

PAST TOP PICK

Petro Andina Resources

PAR-T

10.460

(A Top Pick Jan 26/09. Up 100.2%.) Acquired

2009-09-15

PAST TOP PICK

Western Gold Fields

WGI-T

3.020

(A Top Pick Jan 26/09. Up 104%.) Acquired by New Gold (NGD-T).

2009-09-15

DON'T BUY

Crescent Point Energy Corp

CPG-T

37.480

Like many energy companies, it does not rank well in his models because he looks for near-term earnings growth. Bottom 5% of his database. Most recent year-over-year earnings were down 90% and he sees no dramatic pickup in earnings.

2009-09-15

SPECULATIVE BUY

Burcon Nutrascience Corp.

1.300

Crushes canola to extract oil and then has to extract protein. The big margins occur when they extract isolets. Expecting to have equipment in place and producing commercial volumes in Q1 of 2010. If successful $2 per share would be a good price because of the lower risk. The real key is between Jan/10 and March/10. Reasonable speculation for a toe in the water.

2009-09-15

WAIT

aeromechanical Services

AMA-X

0.315

Black box technology for airplanes for areas not currently covered such as Caribbean and China. Only one analyst covering forecasts $0.01 earnings, which is pretty brisk. Announced its first commercial contract. Very speculative. Wants to see contracts and cash.

2009-09-15

Comment

Encana Corp

ECA-T

63.620

Will be splitting between oil and gas, which will be a good thing. If you think natural gas will recover in a year, it could be a good point to enter as a speculation. Near-term earnings are not there.

2009-09-15

SPECULATIVE BUY

BU-T

7.350

Extracts protein from canola. Hopefully will see some results before the end of the year regarding their application to the US government to be able to put their product into food. Recently announced they were able to extract protein from soy also.

2009-09-15

DON'T BUY

0.050

Very interesting technology. Has been trying to get traction in China, which has a big push on to get away from silver-based x-ray and has an incentive for technicians to use the digital system. Had mechanical and collecting debt problems. He has no earnings estimates.

2009-09-15

PARTIAL SELL

Electrovaya Inc.

EFL-T

0.980

Lithium ion polymer batteries. Interesting technology. The play is to have lithium batteries into cars. A lot of batteries have already been contracted for so this company seems to be late for the party. If you own, consider lightening up on your position.

2009-09-15

TOP PICK

CASH

0.000

(A Top Pick June 18/08.) Thinks we have seen the bottom but we are in the midst of an intermediate pullback, which will last about 3 months and may give back half of the lift you have seen from the first week of March lows. As it gets into the first part of November and for the balance of the year hopefully a new bull market will start.

2009-06-22

TOP PICK

Astra Technologies

AAH-T

25.700

Acquired some Nortel (NT-T) technology and made a ton of money. Make wireless phones for home and particularly office both on the DECT standard in Europe as well as VOIP protocol. Costs have dropped dramatically. Looks cheap based on analysts estimates for the coming year. $3.62 at 7.5X PE for 2009 and ROE at 17% and estimates have been cranked up by 128% for the last 90 days.

2009-06-22

TOP PICK

Mosaid

MSD-T

13.610

Patent portfolio on both semiconductors and wireless communications. 7.7% dividend. Expected to earn $1.97 for April/09 (up 22%). April/10 forecast to $2.28 (up 16%). That is against a 5.7X PE. Thinks it will continue to be successful with their patent portfolio. Also have a skunk works where they are working on some interesting pieces relating to flash memory for blisteringly fast responses. If things are successful it could have a 50% lift.

2009-06-22

PAST TOP PICK

Xantrex Technology Inc.

XTX-T

14.980

(A Top Pick June 18/08. Up 41.72%.) Delisted Sept 29/08 due to an acquisition.

2009-06-22

DON'T BUY

0.100

Makes interesting inexpensive x-ray systems and trying to increase sales in China. Ranks in the middle of his database. Latest earnings have improved on a quarter over quarter basis but losses on earnings for 2009 will go from $0.20 to $0.04. Analysts forecast for 2010 still show a loss of $0.04.

2009-06-22

DON'T BUY

Chinook Energy Inc

CKE-T

1.170

Natural gas in storage is currently at 20% above the 5 year high. Cheap on its ratio compared to oil but there is a lot of gas coming out of the shale plays in the US. In the bottom 15% of his database.

2009-06-22

DON'T BUY

Fairborne Energy Ltd.

FEL-T

3.780

Natural gas exposure. In the bottom 2% of his database. Unless there is a dramatic improvement in the prices of natural gas, oil and the earnings by the company it is fully discounting any kind of turnaround.

2009-06-22

SELL

Verenex Energy Inc.

VNX-T

6.600

In the bottom 15% of his database. Made $0.04 last year but expected to lose $0.14 in 2009 and lose $0.15 in 2010.

2009-06-22

SELL

Silvercorp Metals Inc.

SVM-T

3.570

Currently attempting a hostile takeover of Klondex Mines (KDX-X). Real key is will Silver stay above $15 (equivalent to $1000 gold). Some analyst suggested gold would potentially drop to $850 meaning silver could be heading to $12 or lower.

2009-06-22

DON'T BUY

Azure Dynamics Corp.

AZD-T

0.190

Top part of his database because of its price action. Earnings are improving but still negative. -$0.12 last year and expected to be -$0.04 in 2009. Only 1 analyst covers this company and is forecasting them breaking even in 2010. They need much larger orders and much more visible backlog to create confidence.

2009-06-22

BUY

Atrium Innovations.

ATB-T

12.590

High-end vitamins. Earnings are expected to grow by 9% this year and 11% next year against a 7 PE. Seems to be recession resistance.

2009-06-22

DON'T BUY

aeromechanical Services

AMA-X

0.250

Black box technology for airplanes. Huge opportunity to install equipment into Chinese planes but that has been slow. Only 1 analysts covers and he is expecting an earnings loss of $.06 this year and earnings of $.01 in 2010. Fairly brisk 25 PE for a pretty uncertain outlook at this point.

2009-06-22

BUY

Migao Corp.

MGO-T

7.500

Fertilizer company in China. Thinks there is great opportunity for them. Stock ranks in the top 5% of his database. Earnings expected to grow slightly to $1.10 in 2010 and 15% to $1.27 in 2011. This is against a 6 PE. Looking to expand outside of China.

2009-06-22

DON'T BUY

Galleon Energy Inc.

GO-T

4.070

Expecting a pullback in oil and natural gas. Ranks very low in his database.

2009-06-22

Comment

Zoomed

ZMD-X

0.310

Communication device between doctor and pharmacist. Great product. Federal government is encouraging electronic equipment like this and he is expecting it to come to some kind of agreement over the next 3 months but need money in the meantime.

2009-06-22

Comment

WFI Industries

WFI-T

26.700

Water out of the ground to heat furnaces in the winter and cool in the summer. Very interesting product. Will probably mark time at the moment. In the bottom 2/3rds of his database.

2009-06-22

Comment

4.380

Backhaul for communications. One customer is doing a massive build out in the US for the next 2 years. Backhaul is becoming very important because of the overall explosion of volumes of video. Big earnings growth is expected. With the expected pullback you might get this a lower price in the next 3 months.

2009-06-22

BUY