interesting, page-3

Yes thanks profit seeker, been a while coming but the next 6 months should see us all realise the gains from strong cash flow.... Nice article, thanks for the link


BLUE HORSE SHOE - ICP!!!!
We all remember that THE ALCHEMIST was ahead of the curve telling the market to buy
CUS when it was back around the $1.00 level well someone whispered to THE
ALCHEMIST that he should have a look at ICP.
Well take a look at this SNAP (BTW the scale is in cents):-
Well ICP has recently updated the market infact this week saying:
The iCash Group has continued to perform strongly since its interim profit
announcement for the period ending 31 December 2009. With our ATM
manufacturing capabilities within our Korean based subsidiary, NeoICP, our vertical
integration strategy has allowed the Group to consolidate its operations and deliver
the platforms required for growth domestically and abroad.
Get this though:-
Across the Group, sales volumes and revenues have been trending significantly
higher compared to corresponding periods last year. ATM and other cash handling
device orders for future production are strong.
Together these initiatives have resulted in substantial new business agreements,
providing a positive outlook for revenue and profits in the medium to long term.
THE ALCHEMIST rang one of his contacts who recently visited the Korean manufacturing
facility. The source said:-
ALCHEMIST this is a company with:-
- growing operations in Australia;
- market leading positions in the non-bank retail ATM sector in Korea
- growth options in China and New Zealand
Put simply they are selling 600 ATMS a month and the gross margin on those sales is
circa $3,000 a machine (and that is a conservative estimate) accordingly they are
generating $20 million worth of EBITDA on an annualised run rate!!!
ALCHEMIST I have crunched some numbers and this thing can make $15 million
NPAT PA in the next few years with a market cap of circa $40 million it is a PE of
2.5x
THE ALCHEMIST loves these hidden gems this looked like a BUY to him!!!
Perhaps interested parties should phone THE ALCHEMIST on (02 8247 3150) and we can
organise a site visit out to see the latest WMS / EBET machines in operation.