I think a few are living in fantasy land with $10m and dividend...

I think a few are living in fantasy land with $10m and dividend prospects.

Based on the last financial statements, the EBIT of labour hire in 1H17 was 3.8mm 2H16 0.8m, therefore looking at say $4.6m EBIT. However what was not included in those figures is the unallocated corporate costs which if we are lucky may be $2.5m (loss). I guess our overall EBIT will be around $1.5m - $1.9m at best.

With respect to dividends, I suspect the Shrimptons would like their loan advance paid out first. Whilst the loan facility is $5m, I suspect due to a lot of 'restructure' type costs etc, we will be drawn to the limit, therefore, the prospect of a dividend would be remote at best in FY 18.

In saying all this I believe the shares are substantially undervalued. Assuming we can get a positive overall EBIT position and our NTA is still hovering around 11 cents (per Dec report), then surely this is a 15 cent plus share company.

Just my unqualified thoughts.