EX-1
from SC 13D/A
4 pages
Discovery Has a Long History of Research and Investment in the Defense, Electronics, and Communications Industry. We Invested in Globecomm Because of the Company’s Excellent Competitive Position and the Ability of the Management and Employees to Deliver High Quality Solutions in a Profitable Manner. Globecomm Is a Valuable Business, but the Public Market Prices the Company at a Discount to Its True Inherent Value. This Is Common Among Micro-Cap Companies When Small Float, Limited Trading Volume, and the Resulting Lack of Research Leads to Persistent Undervaluation. However, the Issue Is Particularly Acute for Globecomm as the Current MIX of Government and Commercial Businesses May Lead to Only Modest Cash Flow Growth in the Near Term – Not an Exciting Proposition for Most Equity Investors
12/34/56
