$2m PBT, take out Biohub interest $1.3mBiohub loan at full value...

$2m PBT, take out Biohub interest $1.3m

Biohub loan at full value is 3.4cps
Tax losses (assuming used now, not discounted for future use) is 3.6cps - they'd be valued pretty close to full by a more profitable acquirer.

That's ~7cps in assets that are not required for the business to operate.

Take $1.3m PBT, add $1.25m (mid point) of est. energy savings = $2.55m.

At 12x, that's $30.6m or ~17cps. Add the above assets at 7cps = 24cps


And that's before you factor in:
- Additional leads (up 70%)
- Cross sell potential for internet services, etc.
- Additional cost cutting (sounds like previous mgment/board were far from frugal)

Base case for me here is 25cps, potentially up to 40cps if you take a 20x multiple on earnings

Rerate still happening.