$9.6m in net cash with nil debt and a $1.6m PBT for 2H following the restructure in October last year. Strong growth in higher margin Managed services.
Annualising 2H22 out, its trading ex cash on a 4x EBITDA multiple and 7x P/E with the share price at $0.034. Factoring cash balance into working capital those multiple lift to 6x and 10x respectively.
"very high investment risk not worth it" - on what basis? no creditor to pull the rug, net cash of 30% of market cap and cashflow conversion >100% for 2H.
