topped up again.
this stock has been wracked so hard since it listed.
$50 million in the bank, no debt.
market cap around $145m
means buying in the underlying business for under $100m.
I think there will be a permanent step down though in historical earnings.
those high fees from Dixon will not be repeated going forward.
still an on estimated future EBITDA of around $25 annualised (down from $40odd)
and with the share dropping from $2.50 to 65c
I think it's now an "uncertain buy"
happy to own a bit now
Evans Dixon: Australia's Boiler Room, page-13
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