All good announcements but no chance of shares going above 1.5c...

All good announcements but no chance of shares going above 1.5c this year. 1.0c is a hopeful target

Some numbers

1,289,000,000 shares on issue

another 213,000,000 to 375,000,000 convert at max of 1.5c and at min of 0.8c

So 1,500,000,000 to 1,664,000,000 shares on issue.

So the Coles deal equates to sales of approx 0.13c per share.

Conservatively WNB costs $5.5m per year to run.

to get to 1.5c they would need to have a profit of .1c per year or about $1.5m

Assuming their margin after costs is 50% on their products

$21m of sales generates $7m of margin ($14m of costs and 50% margin = $7m)

Less $5.5m corporate costs

Profit $1.5m

So I think they need $21m of sales .. currently running at about $6m

Long way to go.