INP is finished, page-2

When people panic and make scandalous statements you know you are near the bottom. No question the last downgrade was disappointing - to say the least - as we thought those were behind. But looking forward, unless you believe the CEO/company is lying, this is pretty cheap now. Mkt cap is $35m.. $11m cash.. EV $24m.. new guidance implies eEBITDA of 3.5-4.5x... priced to failed already. Add another $5m in cash and by end of fy19 we have the company on 2-3x ebitda..

these are multiples you see on companies heavily geared or with the balance sheet about to implode. Here debt is not an issue - they have no debt!

Also remember that the CEO bought a big chunk of stock at 28cps - so he has a seriously vested interested to make this work.

Its his reputation at risk now and he would know that he does not have room for multiple downgrades - so current numbers should be comfortably achievable. All the fundies on the company wanted him to run the business and none of them are selling. Turnarounds take time but I think we are now at the end of the downgrade profit cycle.