Ann: Annual Report to shareholders, page-6

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Platioti

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20/07/22

18:49

Post #: 62637042
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Originally posted by quartzhands: ↑

"Had the full year result of TSI India been consolidated the pro forma result for the year would have been$40.56m revenue and EBITDA of $7.368m"

I still don't get it. Current market cap of $8.6m, only ~$1m net debt, and a consolidated revenue of $40m and EBITDA of $7m... With an expected increase of $25m revenue and $11m EBITDA following new TSI contract... What are we missing that the market is seeing?

The expectation of zero growth? Okay that's fair, but a dirt-cheap and soon-to-be profitable again company in times of potential recession looks pretty attractive to me, even if it's not very sexy.

All I can think of is a) lack of growth / VOR is just too small fry for people to care, b) the hostile takeover attempt / bod issues spooked everyone, c) they hate the divesting of the cybersecurity part of the company, or d) they're worried about losing the Dec 2022 contract (70% of TSI income at the time of acquisition).
Anyone know who the major client is? I haven't been able to find it yet.

...Or anyone have any other theories for current and future sentiment?

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Yes something wrong here, there must be more than meets the eye. I was in for a long time with millions of shares then eventually sold out at big loss. Been keeping an eye on it. It appears to be in a better position than it ever has, full control of TSI India, $40m revenue, $7-9m EBITDA, major contracts. Something is not right on the surface at least!

VOR Price at posting: 1.8¢ Sentiment: Hold Disclosure: Not Held
3 Upvote

0 Great analysis

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Ann: Annual Report to shareholders, page-6

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