in the investor presso they said that the front loading of the...

in the investor presso they said that the front loading of the sales and marketing expense for the FY will reduce the cash burn in Q4 to circa 40m

https://www.openbriefing.com/OB/PointsBet-Holdings-Ltd/2023/4/28/Q3-FY2023-Appendix-4C-Investor-Presentation-Conference-Call/5118.aspx

so if we say cash at 31 March $251.7m less $40m. say $210m roughly at 30 June which is 2 months away.

say we value the Australian Business at $220m conservatively (since they seem not to get any deals done at $250m+) that gives

$430m, the market cap is $474m at closing price of $1.55 or around $44m allocated for US business.

but dont forget even at todays price that buys you a ticket for another 3 months until the next quarterly is out end July... but in reality if they will coming out with a one off cash burn of only 40m before returning to higher levels in Q1 next FY... then really your buying around a 6month ticket until October 2023 when they announce Q1 FY24 results where the cash burn may return (but with possibility the business has continued to advance over that six months)

I dare say we hear something one way or another re: M&A and the US business before then.