Well as of now I have made up for my 2025 losses and a bit more.

SCOR jumped a bit on their recap completion eliminating their $18 million preferred dividend and converting their previous preferred to a new preferred with an average conversion price of over $12.

IRIX actually announced some good preliminary Q4 results. Maybe they will be profitable in 2026? Selling at about .5X of revenue.

EDAP announced record Q4 HIFU results. All looks good except their cash burn.

OMI-now ACH, is right around where I bought it after plunging to under $2 for no reason. Hopefully they will make the $1+ expected for 2025. 2026 is expected to be a bit lower but not by much ($.94). So we are at 2.5 times earnings. I just can’t see that lasting too long.

I picked up a little of PLTK (10,000 shares). I don’t normally buy gaming companies but this one is selling for less than 6X earnings and pays an 11% dividend. They just cut 15% of their workforce. They also have a lot of debt, but it looks manageable to me.

VNDA didn’t get their second FDA approval, but they have a more significant drug up for approval in February.

It’s official. I was down 4% on my stock portfolio for 2025. Fortunately, my yield investments more than offset my stock losses. Hopefully 2026 will be better.

Crazy valuations still dominate the market. Story stocks are the rage. To me buying these is just gambling, I will stick to value stocks and wait out the return to sanity. Hopefully that will happen sooner rather than later.

Vanda got the FDA approval they expected in late December. The stock jumped, but gave back a lot of the gains over the next two days. Another approval date come maybe next week. I sold a bit for a 110% gain.

OMI completed the sale of their drug distribution business. They are projecting $380 million of EBITDA this year, $1.02 to $1.07 of EPS for 2025 and fell like a stone on Friday. I bought more. I think this is worth $10 or more. They do still have a lot of debt. But no risk, no reward.

SCOR finalized their recapitalization last week. They still have to issue a press release announcing it. They eliminated their preferred dividend but at substantial dilution. But, this gives them the chance to maybe be profitable in 2026. We will see.