in the right industry reminds me of dot com , page-51

I dont know whats compelling , they resell other providers products.

Managed Amazon Web Services (AWS)
Managed VMware Hosting
Professional Services

Yes there is growth in this sector and they should increase revenue.

Post consolidation price of 53c (based on SPA share price of 32c or 54c at current SPA price of 32.5c) is already pricing in earnings over the next two years imo.

If the 3.8m options and 25m performance shares are added to the 44m post consolidated shares upon meeting ebitda levels by 2015 you would have almost 73m shares.

Add in further employee shares issues or a cap raising in the next 2 years for greater expansion and marketing and 2015 earnings of say around 4.5m ebitda we could see a fully diluted 80m shares.

If assuming 80m fully diluted shares in 2015 and 45m market cap for 10 times ebitda of 4.5m gives us a post consolidated share price of 56c , not much further from the current price. Does it deserve a higher or lower multiple of 10 times Ebitda will be determined on its growth profile. Low growth and 5 times ebitda would be about right , half that 56c.