Found a cracker of a story on 'http://www.theaustralian.com.au'
The thought is they're struck at cellar-dweller valuations for a reason: they're serial loss makers, crippled by debt or, conversely, unable to access bank funding.
Some have had their day in the sun but have failed to execute their business strategy. Others are simply vehicles for incompetent or venal management and directors to maintain a lavish lifestyle, at least until the well runs dry.
I'd highly suggest anyone new to shares and hoping to strike it rich with the pennies read it.