"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...!