MIND TECHNOLOGY, INC

Analysis for Ticker: MIND

MIND Technology Inc provides specialized marine technology for the defense, oceanography, and energy sectors, including high-performance sonar and seismic exploration systems. While it claims to be a leader in maritime security, the company is actually a mask for a 108,4$ million accumulated deficit. It is like a pizza that the managers keep cutting into smaller and smaller slices so they can sell more pieces, while the people who bought the original pizza end up with almost nothing. The math is a disaster because the company regularly spends more money on office costs and paying its own board members than it actually makes selling its ocean technology.