***Correction - An error in my numbers*** "NTA - 6.9c per share CB - 7.4c per share"
They're at break-even approximately - last half their op cashflow was about -$61k from operations, and +$386 after interest received. Does a "material effect" on recurring income equal an increase of 25%? So lets say half of that is net operating cashflow - so $1.25m fcf. 7, 10 times that is $8.7m,$12.5m capitalised (say). . . Plus cash of $17m => Market cap of $25.7 to $29.5m, equals 11 to 12.5 cents per share.
No need to raise capital, and creeping market acceptance of their product. The business has value.
DYOR - I'm just making this up, but hopefully you can see my logic.
RFL Price at posting:
6.3¢ Sentiment: ST Buy Disclosure: Held
