DW8 Growth, page-1115

Some quick calculations to determine DW8 fair value.

From 4C revenue of $400k x 4 = $1.6M x 40 = $64M + $7M cash = $71M MC or 4.8c fair value.

From September 4,726 orders x $32.73 per order = $154,682 x 12 = $1,856,184 x 40 = $74.25M + $7M cash = $81.25M MC or 5.5c fair value. Start October price when company update announced.

From October company update if orders up 20% = 5,671 x $32.73 per order = $185,611 x 12 = $2,227,332 x 40 = $89.1M + $6.7M cash = $95.8M MC or 6.5c fair value. Start November price when company update announced.

At the moment 4.4c represents a discount of 32.3% on estimated fair value of 6.5c based on 20% sales orders growth for October.

If the orders increase by another 20% in November = 6,805 x $32.73 = $222,727 x 12 = $2,672,724 x 40 = $106.9M + $6.4M cash = $113.3M MC or 7.6c fair value. Start December price when company update announced.

With the monthly company updates we can calculate fair value monthly in leau of waiting for the 4C every 3 months which is old news.

Expect further volatility until the US elections are over. The markets had a Biden win priced in a few weeks ago & are adjusting for a Trump win. Whoever wins expect a rally after the results possibly commencing Wednesday afternoon Australia time.