Arrhythmia Research Technology, Inc. (HRT) develops medical software for analyzing the heart’s electrical impulses. Through its wholly owned subsidiary, Micron Products, Inc, the company manufactures and distributes conductive resin senors used in the manufacture of disposable electrodes used in cardiograph equipment. It currently trades for a market capitalization of $16.6m (<$6/share), less than twice NCAV and below tangible book value, despite having a track record of zero losses over the last decade, shareholder friendly management (both dividends and share repurchases) . . .