"I really couldn't be bothered to rehash all my umpteen previous...

"I really couldn't be bothered to rehash all my umpteen previous posts on valuation so go check them."

I'll take that as a euphemism for: "Actually, I haven't really done the work; I'm just winging it. Again. In the typical stockbroker fashion."

On the other hand, I'm not scared to offer my valuation calculations:

At the current share price, ANG's EV is $130m.
A fair EV/EBITDA multiple for a business like ANG is, I believe, between 5.5x and 6.0x EV/EBITDA (which corresponds, respectively, to P/E multiples of 15x and 18x).

At the generous upper value of 6x EV/EBITDA (i.e., 18x P/E), that implies a required EBITDA run-rate of $22m pa. This compares to current EBITDA run rate of less than $1.0m pa.

That's a massive turnaround required in fortunes.

So, I dunno so much.
On those numbers, the stock doesn't strike me as being that cheap.

Where do you think I might be wrong?