High Risk Warning, page-20

Hi Pomodoro,

Thanks for your discounted cash flow calculation resulting in valuation A $9.89.

Would be interesting if you ran terminal growth rate of 10% and discount rate of 7%.

Also add back in company asset valuation of $ 1.00 per share for enterprise value because a2m has net assets (mainly cash) reserves.

The resulting figure expressed as a price target at 30/6/2020 would be interesting for all of us.

If you are using excel this will be easy, I think.

Thanks for your input on this stuff, which is really important.

We should know what a share is worth from a quantitative perspective so we can put these momentum trades (pumping, dumping) into perspective.

Many thanks