enterprise value = negative $2.5m

From reading the half yearly's:

Cash and cash equivalents: 19.0m
Fees and other receivables: 3.1m
Financial assets: 0.4m
Liabilities: (2.8m)
Lease incentive: 0.5m (no cash impact?)

Thus, NTA (ex pp&e, taxes, bonuses & asset provisions) is a conservative $20.2m IMO. Thus, if assume that they will break even, then 8 cents = zero enterprise value. Thus, current shareprice values the business and therefore management's ability at negative $2.5m!