coin acquisition

So they are basically purchasing coin for $23m. Lets say they use existing cash reserves of 15m, that means $8m in debt.

So what does that leave us with. Market values RFL at $15m currently, add in the debt of $8m that means an EV of $23m. Which is basically what they paid Macquarie for it. EBITDA of $5m pa. Not sure what the depreciation will be on this, probably negligible. That means $4m NPT. So $2.8m PA.

PE of say 5ish..... I am torn on whether this is good or not. Will be interesting to see how the market reacts to this.