-In the past seven years, Precision Auto Care was a delisted dark company, hidden from the broad market.
-However, in the most recent quarter, Precision Auto Care recently up-listed to the most visible OTC exchange. Continual visibility may act as a catalyst.
-One-time charges make Precision look like a fairly valued company. However, investors should not judge a book by its cover.
-Management has been wonderful allocators of FCF in the past seven years, buying back ~33% of the shares outstanding and opening 29 company owned stores.
-Further allocation of FCF in more stores and/or potential for more future buybacks/special dividends provide investors with decent upside.