I think the stock is fully priced at 60c ie $5m market cap .
This is ony if you take the view income will remain similar or grow slowly as it has for the last 3 years
The company however is looking to add additional income from the school chanel and other mediums which could add the real upside , personally I think 2.5m revenue is to small , so they need to move it up towards $10m and generate over $1m net profit without the govt grants to be justify a decent PE .
Currently if you take out the govt subsidy they would have no cash and made about 200k in profit , so the PE ex grants is 25 .
Intend taking profit at 70+ if the half year result does not exceeed $1.5m revenue
MWR Price at posting:
56.0¢ Sentiment: None Disclosure: Held
