based on the above analogy, the company is definately...

based on the above analogy, the company is definately undervalued!

As a standalone business its generating a tonne load of cash for its size

And over time it can use this cash-flow and extra cash to grow

FREE CASH FLOWS (i.e cash flows AFTER CAPEX and AFTER DIVVYS) is what every one and every analyst looks at : In our case cash flows after CAPEX we worked out was 24.2mill, and after divvys of 3cents per share on 70mill shares (i.e 2.1mill), youll have 24.2-2.1 = 22.1mill left over

So each year the company can have over 20mill left over if it performs thr SAME as this year operations wise with 25% tax and 2 mill in CAPEX

Obviously this coy is going to grow or wants to grow, it has room to make acquisitions of over 20mill each year after paying tax and a 3cent divvy . Even if we increase the divvy to 4mill from 2mill, it still has 20mill LEFT OVER TO DO WHATEVER IT WANTS FOR GROWTH.