Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

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Business DNA: Taking Seaweed to the Masses

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Equity Bottom-Up

Taokaenoi Food & Marketing / Equity Bottom-Up

<ul><li>Strong cash levels, good price momentum, and relatively strong analyst recommendation relative to its sector</li><li>Recently finished plant in Ayutthaya as well as the new plant under construction in China should add 100% capacity by end 2017</li><li>TKN’s strong brand recognition, with about 70% market share of Thailand’s seaweed snacks, should continue to boost sales</li><li>Looks attractive at 17CE* PEG ratio of 0.8 and the company is net cash</li><li>Risk: Low barriers to entry and potential raw material shortages</li></ul>* Consensus Estimates

Strong cash levels, good price momentum, and relatively strong analyst recommendation relative to its sectorRecently finished plant in Ayutthaya as well as the new plant under construction in China should add 100% capacity by end 2017TKN’s strong brand recognition, with about 70% market share of Thailand’s seaweed snacks, should continue to boost salesLooks attractive at 17CE* PEG ratio of 0.8 and the company is net cashRisk: Low barriers to entry and potential raw material shortages* Consensus Estimates

TKN: Building Plants to Match Growing Snack Market