p1 valuations

Have a read of what values P1 are proposing to pay in their prospectus, based on the proposed cash & scrip deals for set % of equity:-

1.Beauty Quest Corporation - 51%

Consideration of 8.4M P1 shares ($2.5M) +$1M cash for working capital

Implied valuation = $5M

Administration of a global beauty pageant.


2. Webcast Pty Ltd - 51%

Consideration of 8.4M P1 shares ($2.5M) + $300K cash

Implied valuation = $5.6M

2 of their listed sites being boxerbook.com and tradebook.com lead to nowhere whilst petbook.com is currently for sale.


3. Ezybonds Plc - 11.94%

Consideration of 13M P1 shares ($3.9M) + $1.75M cash

Implied valuation = $47.3M

If you search bloomberg it reports their market cap as $12.5M. Implied valuation is 4 times that.


4. Because Group International - 10.13%

Consideration of 12M P1 shares ($3.6M) + $2M cash

Implied valuation = $56M

Because Group were trying to raise money through ASSOB (Australian Small Scale Offering Board) at one stage.

http://www.assob.com.au/em/75/default.htm


5. Dragons of Truth - 30% / 10% revenue & profit sharing

Consideration of 68M P1 shares ($20.4M)

Implied Valuation = approx $60M .

They host live arena shows.


6. Battle for the Crown - 51%

Consideration of 30M P1 shares ($9M)

Implied Valuation = $18M

Hosting and broadcasting of MMA events


7. Bottle of Source - 85%

Consideration of 10M P1 shares ($3M)

Implied Valuation = $3.5M

This is the bidordeal.com website


8. Paladio Investments - 100%

Consideration 10M P1 shares ($3M)

Implied Valuation = $3M

Operation of the trust bar and restaurant.


9. Umesus - 75%

Consideration of 3.2M P1 shares ($1M)

Implied Valuation = $1.3M

Provision of technology that connects individuals


10. Steer Film and Entertainment - 51%

Consideration of 56M P1 shares ($16.8M)

Implied Valuation = $32M


There are a few others in there, but 10 should do. If anyone who has spoken to P1 could shed some light on these valuations and how they justify them.

Obviously, without financials of the companies we cannot say they are over or under valued, but it is difficult to comprehend some of these.

Has anyone else looked into detail at what they are proposing to acquire and the valuations they are giving ?