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    Yeah! I'm not sure the headline grabbing FY21 +50% is as good as it sounds - particularly when you take into consideration the extra 44m shares issued on 1st July - from my take, the register now has 277.846m shares with 10m unlisted options.
    So the underlying NPATA for FY21 was $8.7m with a non cash amortization charge of $1.5m giving us a stat NPAT of $7.2m (rounded)
    There will be another $1.5m amortization charge this year (FY22) as well.
    Let's work this through
    NPATA of $8.7m x 1.5 = $13m less the amortization of $1.5m = stat FY22 NPAT of $11.5m or an eps of 4.14c and i would suggest a 3c divvy which grosses to 4.28c
    Sure, a bit of cost shaving for interest and the like and this might improve slightly.
    But I'm a holder/supporter of EPY, its product and its business model. I think there is further growth to come and very likely corporate action.
 
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