interesting results and valuation

We have proforma EBITDA of around $13m. Cash of around $15m (after deferred liability payment) and a market cap around $50m.

They've divested our non-core assets at an average of 7.5 x EBITDA. You would assume therefore that our remaining assets would be valued at the same multiple (unless we are stupid enough to keep the dud assets).

By my calculations we should be closer to $100m market cap in the longer term. No doubt we still have some travelling to do...ie: there is a overhang from the raisings, must prove new business strategy and we can't pay divvies/buybacks. However, longer term, I see some value here.