if just listened....Heaps of shares and options - 160M plusThe...

if just listened....

Heaps of shares and options - 160M plus

The shares on the market amount to 94M.

$8,000 revenue per day = $2.8M for 350 days a year.

OK lets say $5M revenue a year at profit of 35% = $1.75M profit.

OK. Lets say $2M profit to be optimistic rather than conservative.

Divided by 94M shares = 2 cents EPS which is indicative of a 20 cents share price based on EPS.

However, these small oilers are notorious so why not get real.

The EPS on $5M will be closer to 1.3 cents after tax.

Fully diluted on 160M shares and options and we get closer to 0.09 cents EPS.

PE ratio of 2????????? Currently the PE ratio is closer to 18.

That is if they can make a profit.

Or am I still half asleep.

brr radio interview said this is undervalued. Sounds like a few porkies to me.

Time to go to work.

V