Ann: Exercise of Mpire Option and $6 Million Capital Raising, page-16

I'm surprised there is any stock available under 40 cents for this to be honest:

- Low MC post raising (Enterprise value of about $10 million)
- Cashed up ($8.5m)
- Low shares on issue (60 million)
- already has strong revenues ( about $15m per annum annualised)

When you look at the mobile marketing sphere in the ASX, with companies such as OLV trading at around 3x the EV of FOT and earning revenues of approximately $2m annualised per annum , this is an absolute steal.


even at 35c you would be buying a company with an EV of around $13M with $8.5m in cash and earning around $15m in yearly revenues... ahhhh just convinced myself to buy more.