50 cents by march, page-4

Well then TOX currently forecasting $3million EBITDA, I am pretty confident now that most of that will flow through to net profit, as they dont have any interest payments, and dont have to pay TAX etc.

Already based on the sale of tank cleaning business and new acquisition, TOX could be generating $5million EBITDA (probably not this financial year, but next one easily).

If TOX manages to crystalise any of the myriad of other growth opportunities that they have flagged to the market then this profit forecast for 2006 could feasibly start approaching $10million.

With 500million shares and at 50c that represents a market cap of $250million. Probably stretching it a bit, but if they could forecast net profit of $10million for 2006 or 2007, then PE multiple of 25 for a high growth company isnt out of the realms of the possibility.

When the market falls in love with a stock, it generally gives it crazy valuations, TOX has all the elements of a market darling.

By March I am not so sure, maybe 20c+. It all depends what management can pull out of their magic hats.

cheers.

A very happy holder of TOXO.