issues 58 mill more shares at .026, page-5

imho 3 things are coming grabbit.. there are three things that are coming i can see imho Grabbit..

a) After the TMS aquisition JUM will have 320mill shares on issue and based on the pro forma JUM/TMS Dec 2004 6 month EBIT of $934k ...doubled to give say 1.8mill for a full year gives us a EPS of about 0.0056c per share and P/E of 7.7 and an earnings yield of about 13% based on current 4.3c share price, all of which are good if all things being true and equal..(and presuming Interest minimal and offset by core business revenue growth (new $2.5mill loan to buy TMS = approx $200k/yr interest, also still has plenty tax losses so company tax no issue for a while).

b) tender for a national lottery operator, if they win this it should add substantial revenues

3) Betfair, if Tasmania go ahead and give the license to PBL then TABCORP and UNITAB will need to move quickly so the JUM's Betexware product maybe a perfect option to get a product to market quickly to counter Packer's PBL punch. The TABCORP / Sky Channel issue is very interesting as well. TABCORP getting hit on all fronts at once so has the most motivation to do something fast. See http://www.crikey.com.au/articles/2005/04/05-0912-6714.html

JUM excellent value atm and if all things fall into place it's old high of 9.7 will easily be beat. A positive TMS acquisition process alone will value JUM at about 12c with a P/E of about 25...