bgl guidance, page-3

BGL: I am looking forward to this potential catalyst being in the form of an earnings guidance to be positive and trigger a breakout day on higher volume, I went through and found all the figures for what the EBITDA for all the recent acquisitions and came up with an EBITDA FY11 of $8M, I don't think the investors at the smaller end of the market are fully aware of what they said in their last presentation which was that they included integration costs of the acquisitions but NO revenues of the acquisitions hence the lack of interest and the sideways action. When you look at it from a fundamental perspective Revenues minus costs equals profit. So we had the costs in the last HY report but not the extra Revenues, and from memory I think there is quite alot more in revenues once added on (which means alot more in profit), and they will add it on in this guidance which is due before the 25th April 2011. 88.5 M shares at the start of the financial year 1/7/10 and I think there will be about 150M shares at the end of this financial year. Using 150M shares outstanding I came to the conclusion that FY11 NPAT will be $3.9M and eps will be 2.6 cents per share. As mentioned before I think FY12 will get the full benifit from the acquistions therefore we will see even more growth in 2012. I currently value BGL at 36 cents.