Ann: Appendix 4C - quarterly, page-12

Only $1.9m EV at the 2.4cps!

MSG did $6.3m revenue with $160k profit for the quarter, and as you note this is growing.

IMO insanely cheap, still worth less than a shell company and it has a profitable business.

I am expecting this to re-rate to ~$10m-$20m EV fairly quickly - that would put it on a lazy ~0.5-~1x revenue and give it a PE of ~20.

$10m EV is 6.8c and $20m EV is 12.5c.

Tomorrow will be interesting.