Afsin Alp

11:11 Capital Co. LLC is a hedge fund manager located in Pensacola, Florida. The firm is a subsidiary of Millennium Management LLC.

Founded in 2001, Ceiba Equity Research (CER) is an equity research firm located in Mesa, Arizona with an additional office in New York City. The firm is a division of Ceiba Capital Management LLC. Their research focuses on relatively unknown small-cap public companies. CER believes that the lack of research coverage on small-cap companies leads to pricing inefficiencies on both the long and short side and that there is a strong tendency for small-cap stocks to trade significantly above or below their fundamental intrinsic value. The firm seeks to take advantage of the market volatility surrounding certain events such as earnings releases and the perception that share values will continue to advance (or decline) despite fundamental evidence to the contrary. CER focuses on potential investments that meet certain quantitative growth criteria. They incorporate a margin of safety when valuing investment candidates and seek to identify shares that have the potential for 50% upside or downside moves within the next 12 to 24 months. CER performs sensitivity analysis to develop revenue, EBITDA and earnings projections. The firm thoroughly analyzes downside or upside risk before committing time and energy to the due-diligence process. CER seeks to determine whether a well-defined catalyst exists to create a significant change in market value. They perform frequent and extensive channel checks to verify management claims and they analyze financial statements for red flags or other anomalies.