Ann: Investor Presentation, page-23

this is a small cap stock. generally they trade at lower EBITDA multiples than larger caps
the price target bump is 6 cents.
the organic growth $2.4m figure, they have made that up, it hasnt been proven whether it can generate organic growth in 2022.

re lots of M&A. they did ecareer ones, very tiny EBITDA in them. they want to concentrate on quality. Also where is the money for that kind of M&A $75m dollars. they will need to issue further equity. Their last equity raise was only $15m? they are paying a dividend, almost 50-60% payout, so their cash balance will be marginal