Planet Microcap: Honorable Mentions
Underdogs and Random Picks
Before reading this article - the following are required pre-reads:
(Convincing Investors to become Shareholders) which describes the criteria I am using to make my stock selections.
(Top Stocks: Planet Microcap Showcase - Top 5 Picks) which introduces you to my first five selections.
(Top Stocks: Rounding out the Top 10) introducing you to picks 6-10.
Notes:
This is not financial advice. This is one guys opinion - to communicate my research and start discussion about these companies. To continue the discussion (and daily discussion about stocks) I suggest joining my Patreon Discord (link here).
Don’t read too much into the rankings (where a stock is on this list) I will be introducing my top 10 companies out of the 110 that I researched (TOP 9%). Once you get into the top 10% of stocks, I believe ranking them is more of a personal preference based on your investing style.
Let’s go!
VitalHub (TSX: VHI) www.vitalhub.com/
What they do: Technology (healthcare) engages in the provision of technology solutions for health and human service providers in Canada, the United States, the United Kingdom, Australia, Western Asia, and internationally. The company offers patient flow, operational visibility, and patient journey optimization solutions for hospital and integrated health environments.
Potential rewards: This was a $2.50 CAD stock in 2023 that rocketed up to over $12 in 2024, and now thanks to a challenging 2025 (for the entire stock market) is back down to under $10 - are the stock market gods giving me a second chance at VitalHub?
They just reported full year 2024 earnings and they are pretty good, with annual recurring revenue up 59% to $71.1M. Adjusted EBITDA was up 27% to $5.0M which is fantastic (but does introduce the question of why EBITDA is growing slower than revenue).
Driving VitalHub is acquisitions, with four acquisitions in 2024 driving their share price up 69% and with a $30M financing in December, VitalHub now seems to be set-up well in 2025 with $56M in cash and one acquisition already announced just days ago. Can the explosive growth continue?
Potential risks: I have to wonder if all the juice is already squeezed out of the orange? VitalHub now has a $548M market cap on top of only $71M in revenue, and lately this revenue growth hasn’t been converting as well to the bottom line. There was also shareholder dilution for cash recently, and a growth through acquisition business model which requires the dilution - both add risk. Maybe I’m just looking for problems, but that’s what tends to happen when you’re paying a high valuation for a stock - if anything goes wrong or the company struggles, people start looking to trim positions and take profit and you run the risk of being someone else’s exit liquidity.
🤔 Thoughts and Opinion
People will call me crazy for not having VitalHub as my #1 pick. Share price is up 300% in two years, and VitalHub might be the best company attending Planet Microcap.
The problem is their valuation, wobbly EPS, and dilution:
Market cap $544M
2024 Revenue $68.6M for a P/S of ~8x
2024 Net Income before taxes $5.9M for a P/E of ~92x before taxes.
2024 EPS $0.06 down from $0.10 in 2023
More dilution subsequent to Q4 with 3.1M shares at $10.90
$56.5M cash, no debt, and around 60M shares after this latest financing.
As a roll-up growth company, I’m not really faulting VitalHub for the dilution or declining EPS as that’s the nature of roll-up growth. However, every time I find myself buying a stock with valuation this high, I never seem to make meaningful gains, and more often than not I end up being exit liquidity for the people up 300%.
I also wouldn’t be surprised to find VitalHub acquired in 2025 for around $15 per share. So while I completely agree it’s a great company, and maybe it’s a great stock to buy and hold for years (as long as they continue to execute), I think the people most excited by VitalHub are shareholders and warrant holders from 2023 who bought at $3.
Northstar Clean Technologies (TSXV: ROOF) www.northstarcleantech.com/
What they do: Industrials (waste management and clean tech) a Canadian clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles.
Potential rewards: I could never have a pre-revenue stock like Northstar on my “top stocks” list - there’s too much risk. I have seen too many pre-revenue stocks overpromise, and either underdeliver (or just fail and disappear). However Northstar has a few advantages that gets me excited enough to put them as an “underdog” for Planet Microcap.
The science used by Northstar isn’t rocket science, they use relatively simple procedures to break-down used asphalt shingles into reusable products (it should scale easily).
Shareholders don’t have to wait long. Northstar’s first commercial facility in Calgary will be complete this summer, and by the end of 2025 we should have some meaningful earnings to review.
Should the Calgary facility prove to meet expectations (economically viable) then Northstar has plans to build more facilities quickly.
Assuming the Calgary facility meets expectations, Northstar Clean Technologies has a good, simple, scalable product - with good financial backers, first-mover advantage into a large market potential, and all at a reasonable share price. A lot to like here!
Potential risks: As always with stocks like Northstar, there are lots of risk. My greatest concern is not the “science doesn’t work” and the company fails entirely, I have done enough research where I don’t think this occurs. However, the economic viability of the operation is still in question. Are there unexpected construction costs or delays not being accounted for? Does asphalt prices stay extremely low and revenue is lower than expected? Does everything work as expected buy margins come in lower than expected?
Lots of questions that may only be answered once the Calgary facility is operating at 80%+ capacity, but it’s always good to speak with management to discuss these concerns and give them a chance to calm my anxiety.
🤔 Thoughts and Opinion
Major underdog stock, as Northstar is a Canadian company on the TSX Venture with a huge opportunity to get some attention from both US and international investors at Planet Microcap. The CEO has a compelling “pitch” for his business, sounding both competent and confident when discussing the potential of asphalt recycling. The simple business plan, and the clear path to financing future construction, makes Northstar one of the best (high-risk) bets of 2025 in my opinion.
Despite being a pre-revenue stock, the risk vs rewards is attractive. Northstar has a $43M market cap and each facility is conservatively expected to produce $5.3M EBITDA annually, meaning Northstar is currently valued at 8x EBITDA for only one facility. Assuming the Calgary facility hits the target metrics (producing $5.3M EBITDA) then Northstar is geared up to complete 6 facilities by 2027 and potentially start licensing them out to have 23 by 2030 and exponential growth.
So the risk is the Calgary facility isn’t as productive as expected and maybe the stock drops 25%, but the potential reward is a company producing $115M EBITDA annually by 2030. I think a lot of Planet Microcap investors open up a “spec buy” position on Northstar, with plans to build larger positions after the new Calgary facility proves out the business model.
🎦 Recent Planet Microcap interview with Northstar’s CEO (YouTube LINK HERE)
🎦 My video introducing Northstar (YouTube Link Here)
California Nanotechnologies Corp. (TSXV: CNO)
www.calnanocorp.com
What they do: Materials (advanced material manufacturing) — specialize in the research, development, and production of nanocrystalline materials through grain size reduction.
Potential rewards: This is a well-known, well-supported, and widely discussed microcap. I’d be shocked if anyone attending Planet Microcap hasn’t at least heard of CalNano. The stock exploded from $0.10 in 2023 to $1.95 in 2024, with social media touting it as a “profitable microcap with a moat.” Fast forward to today, and the share price has cooled to $0.61 — so share price has been declining (while the company has been improving) and that’s a set-up I like.
Potential risks: Entry price matters! CalNano has been one of the most volatile tickers in recent years — rocketing from $0.10 to $1.95 and crashing back to $0.61. It’s likely created as many bagholders as it has winners. Why?
One reason is there are obviously a lot of people trading this stock.
The second reasons is they have a high customer concentration, with their largest client a US-based green steel company. So while Donald Trump was supposed to be a tailwind for US manufacturing like CalNano and their largest customers, the tariffs and global trade challenges cause by tariffs have been leaving shareholders of manufacturing companies with more questions than answers. For CalNano specificaly, the cost of growth as a manufacturing company is starting to weigh on the company more than industry tailwinds have been helping, and I think that really brough share price down recently.
The third reason, California Nano released the following statement today:
Cal Nano has seen a recent slowdown in activity from its green steel customer, who the Company understands has achieved certain performance targets, resulting in a period of transition for their R&D efforts. The decrease in fundamental R&D work is expected to impact the Company's fiscal first quarter. There is potential for an impact in subsequent quarters. However, based on discussions with the customer, Cal Nano currently believes that R&D activity will rebound later in calendar year 2025, although it should be noted that this is not certain at present.
🤔 Thoughts and Opinion
The risk here isn’t the company underperforming — it’s investors overestimating what’s realistic for a small manufacturing company. If you’re buying shares expecting 50%+ compounded revenue growth with consistent profits for the next decade, you might want to recalibrate. However if this latest disappointing news crashes the stock down to very attractive levels, will investors take advantage and open up positions for improvement in 2026?
There’s nothing more I like that a bad stock market giving me an opportunity to buy a good company at a cheaper price - however it looks like CalNano’s potential is being pushed to 2026.
CalNano’s CEO is a likable guy, and will receive a lot of support at Planet Microcap. As the company matures, the CEO is also proving some competence with a building history of success to be able to show investors. I expect CalNano is able to pick up a few good large investors who are more the “buy and hold” type, and I hope that reduces share price volatility in the future.
🎦 Recent interview with Planet Microcap (YouTube Link Here)
📝 Link to today’s article citing some weakness (YahooFinance link here)
Titan Logix Corp. (TSXV: TLA)
www.titanlogix.com
What they do: Industrials (specialty industrial machinery) — designs and manufactures mobile liquid measurement solutions that reduce risk and improve efficiency in transporting bulk liquids.
Potential rewards: Titan checks a lot of boxes I like: 38% insider ownership, plenty of cash, no real debt, and an optional share buyback program. They’ve got an innovative niche — liquid measurement and overfill protection — gaining traction. The use cases are broad: trucks, trains, even planes hauling anything from water to jet fuel. You need to know how much is in the tank and ensure it's not spilling or leaking. Simple, but critical.
Q2 2025 earnings were released April 7th. Six-month revenue is up 12% to $3.6M, but tariffs took a bite out of the quarter — leading to a small net loss of $51,000. Not a disaster, but a step back after several profitable quarters. That said, Titan launched two new tech products — Titan Install and Titan Portal — with the hope that digital solutions will drive growth moving forward. There’s potential here, no doubt.
Potential risks: This is a solid business, so I’m nitpicking — but the stock feels a little pricey. Valuation is my concern. Titan might produce $8M in revenue this year (pending how ugly tariffs get), and their Q2 reported a net loss (so no P/E valuation). So Titan has a $19M market cap on potentially $8M of revenue and declining earnings.
🤔 Thoughts and Opinion
With a relatively high valuation heading into (probably) challenging earnings in 2025 (thanks to tariffs) I was hoping the share price of Titan would fall a little bit, and I would happily buy some shares. Instead share price has been going up in anticipation of Planet Microcap. So I’m not currently a shareholder, and probably won’t be at these prices. However, Titan makes this “underdog” list as they are high up on my watchlist. Good company, good product, profitable growth (pre-tariffs), cash, no debt, 28.5M shares, 38% insider ownership, and newer products hitting the market. Titan basically checks all the boxes for a “modified CANSLIM” type investing style which I personally use.
🎦 Recent Planet Microcap interview with the CEO (YouTube Link Here)
🎯 Random Picks / Honorable Mentions
EnWave Corporation (TSXV: ENW) www.enwave.net
What they do: Technology (food manufacturing) the innovation and application of vacuum microwave dehydration.
🤔 Thoughts and Opinion
Good company with a lot of potential. Enwave fits many components of a modified CANSLIM strategy with improving earnings, and a leader in their industry - with their unique vacuum microwave dehydration process proving the “New product” in CANSLIM. A good forward-looking business model selling dehydration machines (one-time revenue) which turns into long-term sticky recuring royalty revenue. Investors are excited that if Enwave gets good growing sales of their equipment that their earnings can grow exponentially.
The only problem with Evwave (like so many other stocks on my list) is how many good companies (at good valuations) are competing for my money!
With a $26M market cap on $8 TTM revenue (and not quite profitable yet) the question isn’t whether I like Enwave (I do) the problem is I probably run out of cash buying other stocks before I get to Enwave. Great company for my watchlist to continue monitoring for equipment sales growth and execution.
🎦 My video introducing Enwave (YouTube Link Here)
🎦 Small Cap Discoveries interview with their CEO (YouTube Link Here)
📝 My article introducing their potential rewards and risks (Substack Link Here)
NowVertical
www.nowvertical.com/
What they do: Technology (data analytics and AI) a global data and analytics company which helps clients transform data into tangible business value with AI, fast.
🤔 Thoughts and Opinion
Some microcap investors don’t understand that as share price goes up, so does risk and expectations. In 2024 NowVertical was an $8M stock and nobody expected much of them. Their CEO deserves an award for the execution and turnaround accomplished in 2024, and now the question becomes whether their CEO can not only save NowVertical from bankruptcy, but also drive continued exponential growth and shareholder value. My guess is probably yes.
NowVertical is now at a $49M market cap, with recent 2024 earnings of $46.9M revenue and a stunning positive EPS $0.019 (up from their EPS ($0.079) loss in 2023). An incredible story of change! However that puts NowVertical at a 2024 valuation of 1x P/S and a 30x P/E which puts them in competition with a lot of other stocks on my list.
🎦 Recent Planet Microcap interview with their CEO (YouTube Link Here)
📝 My article introducing their potential rewards and risks (Substack Link Here)
RenoWorks Software Inc. (TSXV: RW) www.renoworks.com/
What they do: Technology (software) develops and distributes digital visualization software for the renovation and new home construction sectors in the United States, Canada, and internationally.
🤔 Thoughts and Opinion
Boring and undiscovered, with earnings starting to show improvement. RenoWorks was completely forgotten about until they partnered with larger EagleView who has been willing to incorporate RenoWorks product into their offerings. While that created excitement and drove share price up, share price came crashing down once people realized it was going to take time. But patience is paying off, with RenoWorks reporting 2024 earnings of:
Revenue $6.9M up 10%
Recurring revenue $1.9M up 20%
Net income of $133,058 up from a net loss of $497,771 in 2023
Cash of $1.5M up $891,122 without any financings.
Not exactly that “high-growth exponentially growing earnings” microcap stock that everyone is looking for, but at an $8.5M market cap and pretty significant improvement in 2024, and I wonder if some investors are willing to open up some spec buy positions and patiently hold.
🎦 Recent Planet Microcap interview with their CEO (YouTube Link Here)
📝 My article introducing their potential rewards and risks (Substack Link Here)
Intouch Insight Ltd. (TSXV: INX) intouchinsight.com
What they do: Services (customer experience management) a complete portfolio of customer experience management (CEM) products and services that help global brands delight their customers, strengthen brand reputation and improve financial performance.
🤔 Thoughts and Opinion
Fool me once (shame on you) fool me twice (shame on me). InTouch Insight always seems to be that “good” company that never executes. Share price is up 19% in 5-years which supports my thoughts on how “meh” InTouch has been.
However, their 2024 earnings has finally started to show signs of life:
Revenue $28.2M up 11%
SaaS revenue up 7% organically
Net income $1.4M up from a 2023 loss of $384,000
EPS $0.05 verses EPS loss in 2023 of ($0.02)
That’s putting 2024 valuation around 0.4x sales and 7.9x earnings which isn’t bad if the company can continue with 11% or greater growth (and continue building on their EPS success). It’s really a matter of whether their CEO can convince you that 2024 is the start to InTouch executing more consistently.
🎦 Recent Planet Microcap interview with their CEO (YouTube Link Here)
📝 My article introducing their potential rewards and risks (Substack Link Here)
🚀 Article Conclusion and Random Thoughts
The real problem with Planet Microcap that nobody is discussing?
I simply don’t have enough money!
And while that’s a joke, it’s also the truth. Once you get into this list of “underdogs” and other stocks with some real potential (but a bit more risk) I really struggle with finding enough cash to buy shares.
One of the best things about researching so many stocks (110 in the past month) is that I’m not making decisions on a single stock, or getting too invested in one company. I can find a company that I like, and maybe think about buying shares, but once I compare it to my “top 10 list” you really get an idea of what “risk verses reward” looks like - and I spend my money less recklessly.
So this is the last article before Planet Microcap. I hope everyone has enjoyed the introduction to so many companies, and my top picks! Now go enjoy Planet Microcap! Have fun! and hopefully make some money!
Disclaimer: I am not a shareholder of any of the stocks in this article, though I will consider becoming a shareholder depending on their presentation at Planet Microcap. I gave you the criteria for what stocks I will be selecting in this article “Convincing Investors to become Shareholders” and have been adhering to this criteria. I have no intention of selling or trading any of these stocks during the week of Planet Microcap, I am generally a “buy and hold” investor with the intention of holding a stock (as long as they continue to earn my money).
Seriously, this is NOT financial advice.
I mean it. None of this is financial advice—I say it all the time, and I genuinely mean it. I don’t know you. I don’t know your experience level, risk tolerance, debt situation, or anything else about your financial position. So please, don’t buy, sell, or hold a stock just because of my opinion in this article.
I’ve been wrong plenty of times, and I strongly encourage everyone to invest within their own capabilities and consult a financial advisor if needed.
Thank you! 🙏
