"56mn shares at 6.5mn cash = 13cps cash backing"= [UNLESS THE 3B...

"56mn shares at 6.5mn cash = 13cps cash backing"

= [UNLESS THE 3B I SOURCES WAS WRONG?]


- 56mn shares on issue
- $6.5mn cash in bank (from recent qrtly report)


$6,500,000 / 56,000,000 = 13cps cash backing

13c/20c = 65% of the company's current value = CASH


THIS IS REALLY REALLY REALLY CHEAP. THATS ALL!


Some dogs out there traded 5 times cash balance with 1-2mn cash in the bank.

We trade just above cash backing with $6.5mn in the kitty...!