Inspiring financial statements, annually doubled revenues, promotions and press releases – what more can CaseyCorp Enterprises, Inc. (OTC:CCPR) do to get the attention of investors? All these factors are in place, yet yesterday’s session closed without even one share being traded. Could there be another reason for this lack of interest and activity on the market? 
The fact of the matter is that CaseyCorp is no stranger to trading sessions with no activity whatsoever. It has been for quite some time, what is more, the current share price is half of what it used to be a few months ago. All of this comes along with the following financial figures, according to the latest 10-Q statement covering the first 3 quarters of 2010:
- total current assets of $688k; current liabilities of $650k;
- revenues of $34 million for 2010 compared to $24 million in 2009;
If the trend continues this year as well, CCPR could get among the most undervalued companies on the market. On the other hand, there are peculiar facts related to CaseyCorp that one should also take into account when considering it as a potential investment. These peculiar facts are associated with the clients of the company, mentioned in the same 10-Q statement. It appears that 88% of the revenues for 2010 come from only one customer of the company. Also, in 2009 CaseyCorp acquired:
- ESM Refiners, Inc – a company purchasing gold and jewellery;
- EZS (ezsellgold.com) – engaged in the business of purchasing gold and diamonds; [BANNER]
Then, an exclusive agreement was made with Ed & Serge Gold & Diamonds (owned by a CaseyCorp shareholder), under which Ed&Serge will only sell diamonds and gold to ESM Refiners. What is more, Ed&Serge agrees to invoice CaseyCorp at cost plus .05% on daily sales of up to $250,000 and .025% of daily sales over on amounts over $250,000. All of the above makes up for a pretty interesting model for CCPR, which might be even a bit confusing to the regular trader doing the necessary due diligence. The most interesting name would of course be the one of the client accounting for 88% of the revenues. Maybe one of the next 10-Q would mention it. Until then, CaseyCorp would likely remain a company of positive financials and calm stock trading sessions.
