FBR Analysis

Hey, I'm not financially inclined like you. Do you think you can do a shareholder analysis on if a TO is possible? Or if some one does want to do an aggressive TO, what kind of SP they would need in order to get 50.1%? say? I know the PIvacs has like 25%? top 10/20? should have another 30%? Few years back I think it was mentioned the share registry is very diverse with many individual retail investor. What are the rules for an event like this to happen? Or if it can happen?

Nice job.

I think this is an excellent way as an investor to make informed decisions from EXAL and not feelings.

my comments
1- We are not a company at the beginning of its development. I see no reason to assume that there will be such dilutions. Once there are contracts, there is no need for further dilution. We can get loans.Therefore, I do not include any dilution in the calculation. At most, you will take 20% off, which will be diluted.

2- Multiplier 15 on the free flow? We are talking about a growth company at the beginning of its journey, these are not the correct numbers. A multiplier of 100 makes much more sense.

If you change the numbers to the way I commented, you will arrive at completely different numbers.