Club Conversation with Leland Roach, Hidden Value in $MAYS, $BUKS, and $EVC

This discussion took place live on July 22nd, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join Leland Roach writes The Value Road on Substack, where he covers nano and micro-cap value stocks he finds by screening OTC Markets for hidden asset value and near-term catalysts. He walks through his process for working down a list of OTC filings, a real estate play in J.W. Mays' Brooklyn office building, and the turnaround underway at broadcaster-turned-digital-advertiser Entravision as it grows its Smadex platform. He also covers Butler National's unusual mix of aerospace manufacturing and casino gaming, and lessons learned from past mistakes at CarParts.com and RCI Hospitality's Rick's Cabaret chain.✉️ Share your feedback - david@microcapclub.com✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Intro01:30 From the factory floor to full-time investing04:54 Screening OTC markets from A to Z08:01 Why catalysts decide which stock he buys09:26 Spotting a catalyst before the market does11:41 What writing a Substack does to your investing14:25 Readers, feedback, and expectations16:38 JW Mays (MAYS): a Brooklyn building worth more than the company18:31 The risks in an asset-sale thesis20:46 When he sells21:55 Taxes versus taking the profit25:36 Butler National (BUKS): miniguns, Cessna doors, and a casino29:45 RCI Hospitality (RICK): a cash-rich melting ice cube31:22 Entravision (EVC): broadcasting deregulation and Smadex34:27 The one customer that could break the EVC thesis37:20 Mistakes: RCI and CarParts.com (PRTS)38:52 Advice for new investors: read, then be patientDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.