yes you could be very very right.......I assummed a 20% growth...

yes you could be very very right.......I assummed a 20% growth next year on top of the 16.5mill they made this year, BUT........ with these small and growing businesses, 20% growth isnt that much considering some lift their profits by 50%+ in the early stages of the growth years. Looking at ANG in the early years and AAX and CDD or MND shows that they acheive very high levels of growth organically before assumming debt to continue growth or issuing shares via cap raisings once they have a coupla good years of extraordinary growth with high cas-flows .

So yeah, who knows

Ive just assummed 20% growth on 16.5mill which takes us up to 20mill, but, business could very well grow in excess of that in a high growth business

So PRE-TAX thats 20mill/68mill shares= 29cents per share EPS

POST TAX, ive assummed a tax rate of 25%, although i could be wrong......last yr the tax was 15%.

If we apply say 15% tax on 20mill profit, that equals 17mill NPAT

17/68= 25cents per share EPS

That DOESNT INCLUDE the sale of land/buildings of 8.5mill or 10.6 cents per share after 15% tax applied to it

So 25cps EPS from normal opps PLUS 10.6cps from building/land sale = total EPS of 35.6cps EPS for 2010

Again, the above assunmes 20% growth in nornmal opps profit and 15% taxation = normalised EPS of 25cps and 35.6cps EPS after asset sales.

the share price thus MUST go up if these kinds of numbers are going to be acheived give or take

I reckon next stop 1.20 , then 1.50