Thoughts?, page-3

prob best to wait and c if they actually increase revenues.

from looking at prospectus and supp prospectus as well as listing confirmation docs:
at raising price of 22c there are 57M shares on issue which is mkt cap of $12.55M
cash avail to group after raising = $3.77M
bills to pay = vendors $500k + debt $108k + raising fees $345k
therefore final cash = $2.8M

So at raising of 22c EV is approx $10M at curent price of 27c EV is closer to $13M.

FY14 consolidated EBITDA = Ens u/w ($388k) + Ens IT $369k + Hicks $271k = $252k.

So on raising price EV/EBITDA = 40 or current prices = 52.

hence xpensive on FY14 earnings and all comes down to wat FY15/16 earnings are as they really need to increase revenues significantly to justify valuation.

all the above imo and feel free to add anything i may have missed or other relevant factors.

uncle bob.