Anyone here into deep value micro-caps? 3 great asset-backed / special situation pitches I found in the last few days

If you want a briefer from AI eating SaaS and gaming companies, maybe let's get back to basics of deep value investing in microcaps? I scan open-web for promising stock pitches and last few days were quite productive in deep-value category, so I figured I will share with community here and see whether there is some interest for these types of pitches. If this is useful, I can make an effort to make this more recurring (maybe weekly) update on top stock pitches I see in open web, especially if tilting towards value based investing. These are not my pitches and I am not associated with authors in any way, I just think they are worth reading in full, if you like these briefs I prepared below. 1. Scully Royalty (SRL) - the “crown jewel in a burning house”. Core idea: there’s a 7% iron ore royalty throwing off real cash, buried under years of governance/litigation/optics baggage.​ Pitch claims the royalty alone can do roughly $20–30M/year in cash flow at current conditions, and values it around \~$300M on conservative multiples (with upside if production expands).​ Catalyst angle: control is shifting to a more economically aligned group (Milfam \~13% stake per the write-up) that wants to monetize/separate the royalty and stop the historical value destruction.​ Main risk (my read): this one is never “clean” - you’re underwriting legal/governance resolution and a rerate that requires the market to believe the nightmare is actually over.​ 2. Taitron Components (TAIT) - negative EV + forced selling + asset sale optionality. Core idea: stock got smashed after tariffs hurt results, the dividend was cut, and they voluntarily delisted from Nasdaq (which can trigger mechanical selling).​ Numbers from the pitch: market cap \~$9.3M vs net cash \~$4M + public equity investments \~$6M (so cash + securities roughly cover the whole market cap).​ Asset kicker: they also own real estate the author estimates at \~$17M total (with Valencia, CA implied at \~$14M using local comps), leading to an estimated liquidation value around \~$27M even before receivables/inventory.​ Catalyst angle: founders are \~75, CEO has voting control (\~65%) and meaningful equity (\~23%), and the write-up frames restructuring/delisting as consistent with a sale or orderly wind-down over time.​ Main risk (my read): controlled company risk - if the controller chooses to “just keep operating” through weak conditions, liquidation value can bleed slowly. 3. Universal Electronics (UEIC) — net-net-ish + activist chair + “bad segment / good segment”. Core idea: ugly recent history (losses, industry headwinds), but it’s trading at extreme asset-based multiples and now has a credible activist involved.​ Pitch stats: stock around $4, \~0.4x tangible book, \~0.72x NCAV, market cap \~$53M, EV \~$40M (per the write-up).​ Catalyst angle: Immersion/Toro 18 (Eric Singer) built \~10–12% and Singer became Chairman (April 2025 per the write-up), with a stated plan around cost optimization + refocusing on growth areas + strategic options.​ Business nuance I liked: Connected Home grew 29% y/y to $95.6M for the first nine months of 2025 in the write-up, while legacy Home Entertainment declined (so you’re not underwriting a single linear “remote controls are dead” narrative).​ Main risk (my read): turnaround timing and execution - cheap assets can stay cheap if losses persist or if “strategic options” don’t translate into realized value. Original pitches (so you can judge the work, not my summary): 📝 SRL (Discounted Trash Flow): [https://discountedtrashflow.substack.com/p/everyone-is-ignoring-this-crown-jewel](https://discountedtrashflow.substack.com/p/everyone-is-ignoring-this-crown-jewel)​ 📝 TAIT (easyvalue): [https://easyvalue.substack.com/p/negative-ev-8-dividend-sale-likely](https://easyvalue.substack.com/p/negative-ev-8-dividend-sale-likely)​ 📝 UEIC (Dismissed & Asset-Backed): [https://dismissedandassetbacked.substack.com/p/universal-electronics-ueic-a-net](https://dismissedandassetbacked.substack.com/p/universal-electronics-ueic-a-net)