1H 2020, DNA. NPAT was $4.3 million, non recurring expense was $1.7 million (mostly legal fee).. 1H, 2020 wasn’t a good year. Yet the company is still profitable, Theoretically profiting $6 million.. Donaco has never made a Cash loss (beside the non-cash impairment write down, mostly goodwill write down)
With Paul Porntat back in charge of star vegas, and hopefully border Reopen from August. We might see $5 million profit for 1H, 2021 and maybe $8 million profit for 2H, 2021.. That should push share price above 10 cents.. of course no one knows what will happen. DNA could over achieve or under achieve those estimated figures..
One things for sure, if patrons keep coming to the casino. DNA will be profitable.. hence, border restriction relaxation is of most urgent for DNA survival. Thailand, cambodia, vietnam, china have stabilised the covid crisis. Iam more confident now holding DNA stock than i do in April 2020. The 3.5 cents capital raising is dilutive, but if you play your card right and take up the entitlement offer, your position remain the same.
After a string of black, black and more black bad luck, maybe with Somboon back as majority owner. Perhaps, a series of Red good luck will come back with him to star vegas.
Somboon didn’t cause PPT to dump the shares to 3.8 cents providing a low anchor for the price...Somboon didn’t cause covid.. These are the 2 major events that contributed to today’s low share price...Somboon is just one lucky guy, taking advantage of the situation.. Now we all have a chance to bet with this lucky guy, rather than against him.. lets hope his luck continue.
I still see a huge price mismatch between valuation and current share price.. Hence i continue to hold, and will continue to average down.
By the way, Joey is currently doing ok. Lucky Joey didn’t inherit the Genting empire, else he’d blow it up. With his, my way or the highway attitude. He was never a worthy opponent for Somboon.. should have bend with the wind, shut up and just take the profit dividend.. DNA would have still be trading at 60 cents today.
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