Hey mate yeah I think so, albeit it’s been a pretty wild ride since I entered so could easily retrace before kicking on again based on recent history. Good to see some volume coming in the last few trading days at least.
All back of the envelope...74m SOI * $0.355 = ~$26m market cap (+ ~8m unquoted oppies with a $0.50 strike IIRC), probably $3m-4mish in net cash depending where they are in the working capital cycle so let’s call it ~23m EV for a business that should clear $20m in sales in FY21 pretty easily IMO. Profitability will depend on the sales mix across geographies but in any event I expect to see margin expansion as well with a greater contribution of recurring revenues from Zoleo this year.
Not hard to see this being capped at $50m by end of FY21 if they continue to sign up new retail partners and we see a corresponding uplift in sales IMO
gltah
BCC Price at posting:
35.5¢ Sentiment: Buy Disclosure: Held
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