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Uni-Pixel: A Speculative Dark Horse As We Round Out 2015

The market continues to punish the Uni-Pixel name and brand due to previous management’s history of over promising and delivering nothing but unfulfilled promises over the last several years.

Uni-Pixel needs to continue to service existing customers, land follow-up orders with existing customers and land a new customer or two to achieve profitability in 2016.

Uni-Pixel Q4 gross margins should be on track to turn positive for the first time IF catalytic film production has successfully been moved in-house.

Uni-Pixel currently trades at less than 0.3x 2016 sales, which either means the street does not buy what Uni-Pixel is selling or analyst estimates are overly aggressive.

Almost a year ago I took my initial position in Uni-Pixel (NASDAQ:UNXL) as a speculative investment pick at just over $5 per share. I was attracted to the company as a result of an overhaul of management and the deep hatred for the company by shorts, institutions and retail investors. I viewed Uni-Pixel as a work in progress that had all the attributes of being a successful company and investment if given enough time and management focus.

My thesis and investment in Uni-Pixel performed tremendously over the first five months until the company decided to scrap the Kodak project to develop sensors and acquire the "failed" Xsense sensor project from Atmel (NASDAQ:ATML). Uni-Pixel shares reached $8.50 the day of the Atmel acquisition announcement in April, but quickly retreated below $5 and $3 before finally reaching a low of $0.87 in August.

The market continues to punish the Uni-Pixel name and brand due to previous management's history of over promising and delivering nothing but unfulfilled promises over the last several years. Uni-Pixel has cleaned house at the C-Suite and over the past 18 months has replaced...


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