When you take into consideration the market cap $26m, it has cash on hand $30m & no debt .
The enterprise value of the business is negative - yes negative to the tune of $4m- this business is generating approx $12m* free cash flow p.a
& it is for free buying at these levels.
Further note NTA = 10.5c so it is trading at 50% discount also on this core metric.
Cash backing alone = 6.4c
*(Financial year 2014-15)- half year to 30 June 15 =$5.3m
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