re: analyser Assumptions1)They will have $7 mill in the bank by...

re: analyser Assumptions
1)They will have $7 mill in the bank by July.
2)They have no debt.
3)Lets assume 70/30 debt/equity split for a new acquisition.
4) private company sale done at 5x

Under those conditions, and assuming they dont use all of their free cash, say $5 mill, TOX can buy a $17 mill company that generates $4.5 mill ebit or $3.5 mill npat. put that into perspective, thats a 35% lift on forecast 2007 earnings.

That outcome would more than satisfy the average TOX shareholder, and no new shares are required to be issued. So, I would please humbly ask you to open your mind up to the alternatives.
Have a good day