Ann: H1 FY14 Results Presentation , page-3

Expecting to make 2.89m normalised (real figure lower) for FY14, debts of 3.5m , cash 1.6m , 123m fully diluted shares

Enterprise value at current 34.5c using the fully diluted 123m shares is $45m , if 2.89m normalised achieved for FY14 stock is trading at 15.5 times on an enterprise multiple. Other providers have started offering Amazon web services so BPF may find some new competition they never had before.

10 times ebitda on an enterprise basis may be a fairer valuation but since they have a history of strong growth 15 times maybe ok provided they come up with that revenue and ebitda growth.