U.S. Potentially Undervalued Small Caps

CDTi Advanced Materials

Market Cap: US$2.9m

Provides technology and solutions for the emission catalyst, industrial catalyst, and electrocatalyst markets in the United States and Europe.

MIND C.T.I

Market Cap: US$21.8m

Develops, manufactures, markets, sells, and implements billing and customer care software solutions in the Americas, Europe, Israel, the Asia Pacific, and Africa.

Paragon Financial Solutions

Market Cap: US$57.7m

Through its subsidiary, Paragon Bank, provides various banking products and services to individuals, and small and mid-sized businesses in the United States.

FFW

Market Cap: US$53.2m

Operates as the bank holding company for Crossroads Bank that provides various banking products and services.

Colabor Group

Market Cap: US$1.0m

Colabor Group Inc., together with its subsidiaries, markets, distributes, and wholesales food and food-related products in Canada.

Instil Bio

Market Cap: US$55.0m

A clinical-stage biopharmaceutical company, focuses on developing a pipeline of novel therapies.

Farmers and Merchants Bancshares

Market Cap: US$58.2m

Operates as the bank holding company for Farmers and Merchants Bank that provides commercial and retail banking services to individuals and businesses in Maryland.

Tofutti Brands

Market Cap: US$3.6m

Engages in the development, production, and marketing of plant-based, dairy free frozen dessert, and cheese products in the United States, Europe, the Middle East, the Asia Pacific, and Africa.

Denali Bancorporation

Market Cap: US$49.5m

Operates as a bank holding company for Denali State Bank that provides various banking products and services in the United States.

Community Bancshares (McArthur OH)

Market Cap: US$52.3m

Community Bancshares, Inc. provides various financial services in Ohio.

Avance Gas Holding

Market Cap: US$7.7k

Engages in the transportation of liquefied petroleum gas (LPG) worldwide.

Universal Electronics

Market Cap: US$54.4m

Designs, develops, manufactures, ships, and supports home entertainment control products, technology and software solutions, climate control solutions, wireless sensors and smart home control products, and audio-video accessories.

Interpace Biosciences

Market Cap: US$63.7m

Provides molecular diagnostic tests, bioinformatics, and pathology services for evaluating cancer risk in the United States.

9F

Market Cap: US$35.4m

Provides digital technology and wealth management services in the People’s Republic of China and Hong Kong.

Office Properties Income Trust

Market Cap: US$81.3k

OPI is a national REIT focused on owning and leasing office properties to high credit quality tenants in markets throughout the United States.

Zoned Properties

Market Cap: US$5.4m

A property investment company, focuses on acquiring real estate properties within the regulated cannabis industry in the United States.

GMTech

Market Cap: US$601.2k

Through its subsidiary, provides information technology consulting services in North America.

Tokyo Lifestyle

Market Cap: US$9.4m

Engages in the retail and wholesale of beauty, health, sundry, and other products in Japan, China, Hong Kong, the United States, Canada, Thailand, and the United Kingdom.

Earth Science Tech

Market Cap: US$37.8m

Together with its subsidies, focuses on health and wellness industry.

Aspen Group

Market Cap: US$9.9m

An education technology company, provides online higher education services in the United States.

MicroCloud Hologram

Market Cap: US$43.3m

Provides holographic technology services in the People’s Republic of China and internationally.

Peoples Bancorp

Market Cap: US$765.4k

Operates as the holding company for The Peoples Bank that provides various banking products and services to individuals, small businesses, associations, and government entities in Kent, Cecil, Queen Anne's, and Talbot Counties, Maryland.

Humanoid

Market Cap: US$2.5m

Through its subsidiaries, designs, develops, manufactures, and markets farming and sideline products; chemical materials and products; textiles; construction materials; and livestock and poultry products.

Neo-Concept International Group Holdings

Market Cap: US$9.9m

Provides one-stop apparel solutions in the United States, Canada, the United Kingdom, and internationally.

AMB Financial

Market Cap: US$29.9m

Operates as the bank holding company for American Community Bank of Indiana that provides financial services to customers in Indiana.

ICZOOM Group

Market Cap: US$5.1m

Sells electronic component products through its e-commerce trading platform in the People’s Republic of China.

Innovative Designs

Market Cap: US$11.8m

Manufactures and sells cold weather recreational and industrial clothing products in the United States and Canada.

Andover Bancorp

Market Cap: US$39.8m

Operates as the bank holding company for Andover Bank that provides commercial and retail banking products and services.

LFTD Partners

Market Cap: US$3.7m

Through its subsidiary, Lifted Made, develops, manufactures, and sells hemp-derived cannabinoid products, psychoactive and alternative lifestyle products, and related products of nicotine, tobacco, and marijuana in the United States and internationally.

Grupo TMM

Market Cap: US$41.9m

Operates as a logistics and transportation company in Mexico.

Northeast Indiana Bancorp

Market Cap: US$54.0m

Operates as the bank holding company for First Federal Savings Bank, which provides various banking and financial advisory services in the United States.

Citizens Holding

Market Cap: US$50.4m

Operates as the bank holding company for The Citizens Bank of Philadelphia that provides various banking products and services.

MBT Bancshares

Market Cap: US$55.2m

Operates as a bank holding company for the Metairie Bank and Trust Company that provides various banking products and services in the United States.

Sturgis Bancorp

Market Cap: US$51.6m

Operates as the bank holding company for Sturgis Bank & Trust Company that provides banking products and services in Michigan, the United States.

Lifestore Financial Group

Market Cap: US$52.1m

LifeStore Financial Group, Inc. operates as a federally chartered thrift holding company for LifeStore Bank that provides banking, investment, and insurance services in North Carolina.

ECA Marcellus Trust I

Market Cap: US$10.0m

Owns royalty interests in producing wells and horizontal natural gas development wells for Energy Corporation of America (ECA).