This week’s coverage was anchored by a live “You Make the Call” session with Kidoz Inc. (OTCQB:KDOZF) (TSXV:KDOZ), where management walked through the company’s mobile advertising platform funded with $23 million over the past 5 years and its strategy to finally scale growth. The discussion added useful context around demand and regulatory trends, improving customer mix, and how the team is thinking about profitability under its tweaked business model.
This is the fourth installment of the “You Make the Call” interview series. It is a Skull Sessions subseries where investors hear company pitches and decide which ideas have potential. Check out all past interviews on the portal:
Outside of the KDOZF session, companies across our coverage universe posted a series of updates through earnings results, contract wins, research collaborations, and shareholder actions. A recurring theme this week was the continued shift toward more predictable revenue models, particularly among smaller companies working to reduce volatility and improve visibility after several uneven years.
Highlights from the week include:
- [AdTech] Kidoz Inc. (OTCQB:KDOZF) (TSXV:KDOZ) joined us for a live “You Make the Call” session focused on its mobile advertising platform, growth strategy, and longer-term margin potential
- [Home Infusion] Koru Medical Systems, Inc. (NASDAQ:KRMD) reported improved quarterly results and discussed drivers supporting sustainable growth into 2026
- [Defense, Satellite] Frequency Electronics, Inc. (NASDAQ:FEIM) announced new contract wins tied to secure communications and avionics-related
- [Wildfire Risk] General Enterprise Ventures, In (NYSE:CITR) was featured in an industry article highlighting insurance-driven tailwinds related to wildfire mitigation
- [Subsea Energy] Koil Energy Solutions, Inc. (OTCQB:KLNG) announced another contract win, extending a steady pattern of backlog expansion
- [3D Printing] Velo3d, Inc. (NASDAQ:VELO) disclosed a new research collaboration with the U.S. Army focused on additive manufacturing applications
- [Heavy Equipment] Ameramex International Inc. (OOTC:AMMX) provided a shareholder update outlining expected revenue growth and a path back to profitability
- [Metabolic Health] Glucose Health, Inc. (OOTC:GLUC) completed additional balance sheet actions, eliminating its remaining debt
- [Interconnects] Rf Industries, Ltd. (NASDAQ:RFIL) delivered a stronger-than-expected quarter, citing operating leverage and backlog momentum
- [Data Centers] Insteel Industries, Inc. (NYSE:IIIN) pointed to data center-related demand as a contributor to year-over-year revenue growth
- [Defense, Video Surveillance] Haivision Sys Inc . (OOTC:HAIVF) (TSX:HAI) reported a strong quarter and shared constructive commentary tied to defense demand
I also outlined three stocks that don’t screen cheap on paper, but could look like bargains in hindsight: two technology companies, and a consumer brand company, Amtech Systems, Inc. (NASDAQ:ASYS), Equator Beverage Company (OTCQB:MOJO), and Qualstar Corp. (OOTC:QBAK).
For ASYS, the market may still be slow to connect the dots on its AI exposure and the new CEO’s vision for recurring revenue. It’s part of our Restructuring Screen, and if the company continues to deliver on its initiatives, we could see the earnings power of this story really take hold.
MOJO is one we’ve talked about plenty. The CEO remains aggressive, and while the company is tiny and still speculative, it’s differentiated by a rare combination of real distribution (like ShopRite) and financial discipline, no blown-out share count, no toxic debt.
And QBAK, part of our AI Screen, is quietly aligning with emerging AI infrastructure needs. It’s not flashy, but the storage angle may get more attention as the theme evolves.
While not on our morning emails, we tweeted about Greystone Logistics, Inc. (OTCQB:GLGI) being removed from all model portfolios after the loss of a major customer, as noted in their 10-Q filing. The company has yet to issue a quarterly press release, even though they said they would.
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Earnings and Research Updates
Koru Medical Systems, Inc. (NASDAQ:KRMD), a medical-device company developing subcutaneous home infusion systems, posted solid Q4 and full-year revenue results, with $10.9M in quarterly sales vs. $8.9M last year and $41.1M for the full year, up from $33.7M. More importantly, the company is guiding for sustainable growth in 2026 and appears to be finding a groove operationally. CEO Linda Tharby , emphasized traction in the core immunoglobulin business, a growing recurring patient base, and progress toward expanding use cases, specifically oncology, with a recent 510(k) submission for its Freedom Infusion System.
We’ve been waiting for KRMD to demonstrate it can consistently grow while maintaining profitability, or at least breakeven. The revenue performance is nice, but the full year of positive operating cash flow is more telling. As international expansion finally gains traction, the stock could start to get more love, if that growth proves to help push the company to net income profitability.
Frequency Electronics, Inc. (NASDAQ:FEIM), a producer of precision timing, frequency control, and synchronization products for space and defense applications, announced approximately $6 million in new contracts this week, covering secure communications and aircraft signal distribution systems across its Assured-PNT segment. The company says these new deals prove that the military still trusts them to deliver important tech. While that message makes sense from a business perspective, it’s worth noting the stock has already made a strong move higher in recent months. So, these smaller wins may not be enough to push it further without bigger catalysts.
Speaking of “You Make the Call”, a recent Royal Gazette article from Bermuda added some real-world context to the thesis behind General Enterprise Ventures, In (NYSE:CITR) (formerly $GEVI), a company that develops and supplies non-toxic wildfire defense and fire-resilient protection products. The piece discusses how insurers and reinsurers may begin incorporating fire-retardant building materials into catastrophe models, especially in wildfire-prone areas. That directly aligns with CITR’s tech, which focuses on treating lumber and construction materials to reduce combustion.
CEO Wesley Bolsen previewed this exact angle during our November “You Make the Call” chat, flagging insurance industry pressure as a likely adoption catalyst. The company has already begun early-stage deployment in post-fire reconstruction zones. Still early days here, but it was nice to see the narrative partially validated by sources other than the company.
Koil Energy Solutions, Inc. (OTCQB:KLNG) , a provider of subsea engineering and equipment services, announced another big contract this week, its sixth since late 2024. This one involves a subsea distribution system for a deepwater project in the Gulf of Mexico. Management continues to emphasize integrated system solutions as a differentiator. While the most recent quarter didn’t reflect operating leverage (where KLNG posted a loss despite higher revenue), the contract momentum and commentary on the Q3 call suggest the company may be approaching a point where scale could begin to improve margins.
We’ve had KLNG in our Focus and Top Five model portfolios for a while, and this is exactly why: rising contract momentum and evidence that the company is building a repeatable revenue base. Controlling operating expenses remains key, but we like what we’re seeing so far. We’re actually kind of surprised the stock still hasn’t gotten more, as contract momentum continues to build.
Velo3d, Inc. (NASDAQ:VELO), a metal-3D-printing technology company who MS Microcaps’ Defense Conference (video link here), announced a Cooperative Research & Development Agreement (CRADA) with the U.S. Army’s Ground Vehicle Systems Center this week, an important win for a company that’s been working hard to regain investor trust. The agreement focuses on using Velo’s additive manufacturing tech to prototype alternatives for ground combat vehicle components. The Army’s interest reflects a broader shift toward more flexible, resilient supply chains in defense.
The Department of Defense (DoD)’s budget for additive manufacturing is set to jump sharply in FY26, which could serve as a real tailwind.
And the oh boy, the can we trust the story of the week… comes from Ameramex International Inc. (OOTC:AMMX), a company that sells, leases, and rents new and refurbished heavy equipment. This time they’re forecasting 2025 revenue of $15–16M and a return to profitability after two years of losses. The tone from management was more specific than we’ve seen in prior updates, with commentary around government fleet relationships, increased Request for Proposal (RFP) activity from logistics providers, and signs of rising demand from Central America.
We’ve followed AMMX long enough to be skeptical; past promises have routinely under delivered, but this is the most detailed growth framework we’ve seen from them in a while. If they start stringing together steady quarters, sentiment could shift. For now, it stays in the “prove it” camp.
Glucose Health, Inc. (OOTC:GLUC), a maker of soluble-fiber nutrition beverages, continues to focus on shareholder-friendly capital restructuring moves. This week, it settled $225K in debt with a board member, who also waived $30K in interest and returned warrants, cutting future dilution. After similar moves last month, the company is now debt-free.
They’ve also teased a new product launch and claim growing shelf presence for GlucoDown (now in over 1,000 Walgreens). We’ve recently added GLUC to our restructuring screen at $0.17, and we’re working to schedule an interview with management to better understand the company’s plans going forward. At one point during the week, the stock actually hit $0.67.
Rf Industries, Ltd. (NASDAQ:RFIL), a company that designs, manufactures, and markets interconnect products and cable systems, surprised us with a stronger-than-expected Q4: $22.7M in sales vs. $18.5M last year, and adjusted EPS of $0.15 vs. $0.04. Full-year sales hit $80.6M (up from $64.9M), with net debt down and gross margins now above the company’s 30% near-term target.
CEO Robert Dawson called 2025 a breakout year and laid out a vision for evolving RFIL into more of a technology solutions provider. We’ve tagged the company on our Data Center Screen, and with tailwinds from infrastructure and telecom, it could maintain some of this momentum into 2026. Backlog dipped slightly quarter over quarter, but that’s not a pure indicator of momentum, especially understanding that the first quarter is usually the weakest quarter of the year.
Insteel Industries, Inc. (NYSE:IIIN), a manufacturer and marketer of steel wire reinforcing products, reported Q1 results that continue to defy softer construction sentiment. EPS came in at $0.39 vs. $0.06 in the prior year and ahead of analyst estimates of $0.32, with revenue at $159.9M, up from $129.7M YoY. Margins were pressured by higher-cost raw material inventories, but volumes held up, thanks largely to infrastructure demand and data center activity.
IIIN is a useful barometer for nonresidential construction trends, and the fact that it keeps performing while residential demand stays weak is worth noting. It resides in our Infrastructure Screen, and we’ll be watching to see whether continued data center buildout keeps providing lift, even as other areas of construction soften.
Haivision Sys Inc . (OOTC:HAIVF) (TSX:HAI), a provider of mission-critical real-time video networking, streaming, and visual collaboration solutions, which we added to the Defense Screen in December after their appearance at MS Microcaps Virtual Defense Conference (video link here), reported a strong quarter this week: revenue up to $40.2M from $30.1M, and EPS of $0.11 vs. $0.07. The tone on the call was particularly bullish, with management saying all of its mission-critical markets are performing well and they see “no slowing down” in the next 3 to 5 years.
Their AI-based Kraken X1 edge processor seems to be gaining traction, so analysts may need to revisit their 2027 estimates, which currently assume negative growth.
HAIVF is contributing to the broader performance of the group of companies that attended MS Microcaps’ Virtual Defense Conference that are part of the above-mentioned Defense Screen we subsequently launched. Quite honestly, the stock wasn’t one of my favorites from the event, but it’s starting to grab my attention.
Since its inception, the Defense Screen’s current average return across 15 stocks is 30.87%, which an average peak return of 45.81%.
Now, onto our Skull Session with CEO Jason Williams of Kidoz Inc. (OTCQB:KDOZF) (TSXV:KDOZ).
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Skull Sessions
“You Make the Call”: Can This AdTech Underdog Deliver?
Kidoz Inc. has undergone a significant transformation in recent years, evolving from a modest platform into a market-leading mobile advertising system. CEO Jason Williams shared the company’s journey during this week’s “You Make the Call” session, highlighting the key decisions behind its growth and long-term development. Interestingly, I became aware of the company after a representative from the company called me.
Kidoz operates a privacy-focused in-app mobile advertising platform geared primarily toward the kids market, a tough but defensible niche, partly due to regulation. For years, the business relied heavily on reseller relationships, which helped generate early revenue growth but came at a cost: weaker gross margins, no direct customer relationships, and volatile retention.
That model is now being phased out. In 2022, Kidoz began transitioning toward direct sales, hiring reps in the U.S. and taking ownership of its own ad inventory. The shift has been meaningful. In 2025, roughly $12M of the company’s $18M in revenue will be direct-sold, versus 100% reseller-driven revenue just a few years ago. Williams emphasized the change has created deeper brand relationships, higher stickiness, and better margins. “Revenues are healthier, margins are healthier, relationships are 100x better,” he said.
Importantly, the core tech stack is now rebuilt, something Williams called a “10-year effort, with $23 million invested since 2019.” That includes a complete overhaul of the company’s analytics infrastructure, finalized just last year. He noted the shift frees up engineering resources to focus on growth-oriented innovation instead of backend maintenance.
So where does Kidoz go from here? According to Williams, the goal is to scale recurring revenue through repeat brand campaigns, primarily large multinationals like McDonald’s, Mattel, and Lego. Kidoz’s positioning as a Children’s Online Privacy Protection Act (COPPA)-compliant and brand-safe alternative to behavioral targeting is becoming more relevant, especially as regulatory pressures rise globally. The company’s use of AI-driven contextual targeting (built on a proprietary human-labeled dataset) could also carve out a defensible edge against competitors reliant on user tracking.
There’s still plenty of execution risk. The customer base is concentrated, quarterly results will remain lumpy, and while Kidoz is profitable on an annual basis, margins are under pressure from high R&D costs. Williams acknowledged those challenges but emphasized that the heavy lifting on the platform is largely behind them, allowing the company to focus on scaling the business, improving ad delivery, and expanding margins.
Kidoz is trying to tighten its model, deepening brand relationships, and building a repeatable, defensible business. The company’s progress over the next year will show whether these efforts translate into sustainable growth.
You can watch the full replay here: Kidoz You Make the Call Session – Jan 13, 2026.
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Weekly Performance Stats From The Microcap Universe
A useful research resource for identifying potentially undervalued momentum stocks and beaten-down names that may rebound over time.
Biggest Single-Day Movers of the Week
These are stocks that recorded the strongest one-day move (up or down) during the week.
- Largest Single-Day Gainers
- Largest Single-Day Losers
Weekly Top Gainers and Losers
These are the top 10 stocks with the largest overall gains and losses for the entire week.
- Top 10 Gainers – Weekly (January 12, 2026 – January 16, 2026)
- Top 10 Losers – Weekly (January 12, 2026 – January 16, 2026)
New 52-Week Highs and Lows
These are stocks that reached new 52-week highs or lows during the week.
Premium Emails Sent During The Week
01/12/2026 – 3 Stocks With Return Potential; KRMD Results Improve, Favorable Guidance; FEIM $6M Contract; Spotlighting CITR on Recent Gazette Article
01/13/2026 – Kidoz (KDOZ.V) Joins Us Today Live; KLNG Yet Another Contract; New VELO Collaboration Announced
01/14/2026 – Will This Time Be Different For AMMX; GLUC Continues Shareholder-Friendly Actions
01/15/2026 – RFIL Surprises Us With Strong Q4; IIIN Credits Data Center Activity for YoY Rev Growth; HAIVF Also Posts Strong Results, Defense Screen Performing
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