This still holds imo.Subject re: 100k bought at near close...

This still holds imo.

Subject re: 100k bought at near close
Posted 03/11/04 04:36 - 24 reads
Posted by cosmos
Post #406761 - in reply to msg. #406648 - splitview

Destra announced a profit of $128k in their last quarterly, i.e. $500k p.a. Add to this Techex's $700k for 2004, gives a conservative $1.2m p.a. underlying profit.

Using a p.e. of 20 (conservative for the growth sectors that DES is involved in) gives a market cap of $24m.

According to their latest appendix 3B there are 82m shares on issue (all quoted). This gives a share price of just under 30c. Smart buying at 13c imo.

If there are synergies in the Techex aquisition and the non Techex profit continues to grow, something like a $2m profit for 2005 is possible.

Obviously the market needs confirmation and a track record, and to recognise a micro cap like DES. However, when it does this could easily be a three bagger over the next 6 months or so.

cosmos