$1 Party, page-58

Yeah not sure why the big sell off happened towards the end of the day but same time there has been some big buys in recent days so it all equals out.

This time last week it was at ~1.2c now it is ~1.4c so improvement but the SP will go up and down and if you are trading you are more concerned about it but with LT holding the company is going amazingly well. The recent announcements didn't have any direct material financial impact on the company (yet) so it is not that you can quantify this value. You can look at the board and go Kate & Cameron have both built ~700M revenue streams from start ups in the tech space within years so IF they do that then the MC should be 2-3bn (if not more) but so far they haven't delivered that so what fraction do you put on it for the 'chance'.

In my opinion I still feel like ESH is undervalued just purely on this board as it seems crazy to be sitting at ~30M MC when I know of tech company on the asx on the most recent 4C/Qtrly that lost over 20M and has a MC of over 500M (SP tripled since May) so I am much more preferring to hold an all star board in a massive growing industry that is losing xxx,000 per qtr than hold a 500M company that lost over 20M for the last qtr.

If the team delivers what they have done else where the will be no doubt in my mind that the MC will increase with it as it just has to - as you will not have a business turning over even 300M a year sitting at 30M MC - it just feasibly isn't possible unless they are making significant losses but even if they are making a loss as some tech companies do as they look at growth and increasing market share ESH will still be worth exceedingly higher than where they are today.

This is my thoughts anyway and company is progressing in the right direction so big tick from me.