Acorn ($ACFN $0.33) – is a compelling microcap with a solid, high-margin, recurring business in remote monitoring & control (IIoT) of industrial assets (stand-by generators; pipelines; air compressors; etc.) Plusses include 25 Forture 500 clients; > 50% high-margin monitoring sales (~94% recurring); expected LT growth of ~20%; gross margin of ~65% (~85% on monitoring); & clear path to profitability. ACFN transitioned company on leadership of CEO Jan Loeb who brings significant experience, savvy & discipline as an investor. Since joining in '16, reduced overhead by $2.5M (~70%) & LT debt from $4m to $0. Cash grew $1.4m; revenue grew $2.4m (+80%); & EBITDA went from -$8.6m to -$0.7m. Expected cash sales ~$6M in '19 & >$7M in '20. Transaction values in space are 2.5x-4x & higher. Yet ACFN is selling for ~1.6x '20E sales. ACFN can reach cash flow positive soon & has tax loss carry forwards of $60m (~$13m NOLs). Mgt. is also pursuing opportunistic M&A & insiders own ~27%. $ACFN $GNRC