Good to see this one start to go up.
What's it really worth?
Back before BBP was bought out by the Hedge Funds an independant expert put a price on the remaining AEJ asset at $24.5m as a going concern.
It is now currently valued at $$4.1m and a big chunk of the debt has been repaid.
Add to this the business recieved $8.7m on the 2nd of July the debt position is a lot better than reported.
Net Debt is $180,870k (if you include the $8.7m) The earnings multiple of between 8 X to 9 X EBITDA is what it should be worth.
That values the Shares between $37 to $71.
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