Yes, I am well aware that the $10 million cash isn’t actually all from revenues for contracts fulfilled. The last quarterly resulting in the pump to 5 cents clearly had a few million received in advance for projects not yet completed (somewhat unusual as usually it’s the opposite where the work is done first) and this was why the P&L didn’t quite live up to the expectations after the amazing cashflow in the quarterly.
So the net assets are only a couple of million for WSI but the $10 million cash is super important because it allows for cash flow to complete big projects and to tender for ever larger contacts without needing more debt/equity.
Dilution destroys shareholder value. That’s why I’m investing here — no further dilution. The capital raising at 2 cents is the only reason we can all buy on market right now down here... for how long though?!
Imagine all of this next year...
NPAT FY20 $2-5 million
Bigger projects being awarded
No debt, plenty of cash
Maiden dividends being declared
Strong growth trajectory
Forecast NPAT FY21 $3-8 million (depending on growth rate)
And all of a sudden 10 cents or $60 million market cap doesn’t sound unreasonable at all!
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Last
12.5¢ |
Change
-0.005(3.85%) |
Mkt cap ! $14.72M |
Open | High | Low | Value | Volume |
12.5¢ | 12.5¢ | 12.5¢ | $16.16K | 129.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 136212 | 12.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
13.0¢ | 157700 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 136212 | 0.125 |
3 | 104035 | 0.120 |
1 | 10000 | 0.105 |
1 | 15991 | 0.100 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.130 | 157700 | 3 |
0.135 | 125000 | 2 |
0.140 | 150859 | 1 |
0.145 | 91230 | 3 |
0.175 | 101000 | 1 |
Last trade - 13.02pm 16/08/2024 (20 minute delay) ? |
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WSI (ASX) Chart |