On track for ebitda+ FY21, 54m aud cash in bank with current...

On track for ebitda+ FY21, 54m aud cash in bank with current quarter likely positive, 245m aud back log, traction in china including SOE. Despite being in the strongest position ever fundamentally, the market cap is at an all time low (FLC). Given Lauder already owns around a third of the company and the 54m cash balance, it is a very cheap TO opportunity. If the downtrend continues, he could actually be ahead. Lets say there is a TO at a market cap of 81m, Lauder only has to pay out 54m (two thirds). Cash balance of the company covers it! Obviously you would expect a premium in any TO situation and the cash balance is required for operating but it is an interesting consideration. The current valuation is farcical. While ever the bots continue to control the price action to the downside, no one is going to mess with a billionaire. FLC is going to need an enormous sentiment change if the share price is going to recover. Nothing to do with fundamentals. The last few weeks could be tax loss selling but it certainly is not looking good and the trend since Lauder showed up is clear.