Ann: Net Tangible Asset Backing, page-15

Net tangible assets is an accounting term calculated as the total assets of a company, minus any intangible assets such as goodwill, patents and trademarks, less all liabilities and the par value of preferred stock. Net tangible assets is also known as "net asset value" or "book value."

https://www.investopedia.com/terms/n/nettangibleassets.asp

Personally I do not see the relevance for a small cap stock, in particular one the likes of EVE.

Tangible refers to Net Assets. Intangible would be something with the likes of Goodwill (which is arbitary to some extent anyway.

For me, a small cap like EVE needs to state;

1. Cash at Bank (Cash or cash equivalents)
2. How they are building their business
3. Their business model
4. Future markets and ambitions and so on
5. Levels of debt
6. Management with skin in the game
7. A low or managible level of issued shares (capital)

Revenue comes later. Building a Balance Sheet comes later to some extent.

NTA - at this stage, not relevant IMHO.

This is my opinion and a rushed one at that. Please always fo your own research on Small Cap stock in Oz.

Gracie
CPA