my relationship with fun is strained, page-9

"Yeah, something like that. Obviously you don't want to disregard those losses completely as they are an asset, but at some point the tax shelter from those losses will be exhausted and the company will start paying 30%."

That's only if you're looking at more than 3 years ahead. I think with turnaround companies, things are fragile enough that this kind of long term valuation is a bit premature.

Will the company be able to have a steady, predictable, positive cash flow to enable them to stop doing this capital raising is the biggest question mark.

They might well be sinking back to negative again if one of their major products don't sell well this x-mas season.

PS: On totally unrelated matter, my work colleague bought me Chill Factor cup for Secret Santa today ^_^". I'm currently based in Singapore so that surprised me. Apparently it is a Chinese patent too.