This is great news. I have bought more today, and glad I have been continuing to buy over the last month.
At 8.4c the market cap is $18.78M
If sale goes through this co will have $14.4M cash ($3.8M cash held 30/6 + $10.6)
EV of $4.38M. The EV drops when state seeker returns the loan funds which it looks like will happen this fin year.
$1M return from statseeker would leave the co with $3.38M EV.
It looks like Urgent made a loss of $330,000 last year (2015 profit b4 tax was approx $1M and it made $1.33M less profit for 2016- for reasons explained previously and it looks like the companies profitability will increase dramatically from here).
If Statseeker and ERST make the same profit as 2016 the company should make $1.9M profit.
Not bad for a company with an EV in the range of $3M-$4M.
TCN Price at posting:
8.4¢ Sentiment: Buy Disclosure: Held
