Yeah I don't disagree there but we all knew track was underperforming, didn't we?
I'm simply looking at this from a complete business point of view. Unless they are misleading the market, it looks as if this is going to be the softest revenue quarter for the foreseeable future... even with this soft quarter solid EBITDA was produced and debt was reduced further.
The share price is 15c because we all know track hasn't performed to expectations. I have revised my expectations for the company significantly in the last 6 months and can't find a company with a market cap of only 25m producing these types of numbers so will continue to hold.
Even if worst case scenario there is no revenue growth produced over the next 48 months (hard to believe with deal pipeline) it looks like the debt will be repaid. I don't see how the share price could not be multiples of where it is now if these same numbers were being generated debt free.
All IMO. If the market cap was 100m and these results were announced it would be a different story.
CM8 Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
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