To clarify one point you made, the company has actually not mentioned anything about Wimax as a project it is pursuing - that's all been discussions and assumptions made on this forum.
Also, I have included the Billing System and PP&E in my EV calc because if you compare the Gross Margins, looks to be approx MNF 30% vs ENG 40%. I guess this difference would be the margin Symbio receives for providing backend services to MNF - whereas ENG owns this, plus the higher volume discounts that ENG can command on the $20m revenue base vs $7m.
In essence, our methodologies conclude a similar result that on an EV basis ENG is priced cheaply vs MNF at current sp of 2.3c .... right??
Your calc and mine shows on current share prices, MNF is priced with an EV 5 times that of ENG. All the market awaits (as do you) is confirmation that ENG has stopped the cash bleed....then they should get priced back up.... I see this as the opportunity to make a profit from the current price, as I believe getting the financials in order is what ENG is currently focused on, before taking on some other major project or transaction.
Cheers Cicatriss
ENG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
