On the move again, page-22

Tony D, I'm not sure what the rest of your comment would be, but in order to work out what the stock is worth, you should at least apply some valuation metrics.

And Goldbear77 - to counter the drivel you wrote, perhaps you should quote some facts rather than spreading mis-information (The consolidation is exactly 40 shares into to 1 share). And there is no additional 17m shares being issued to pay for the transaction. It is only 4m shares in transaction fees. The rest are either related to existing liabilities of the business or being issued for cash to new investors.

If you want to speculate of the value of the business post the transaction, perhaps you should use facts and undertake some reasonable calculations using the information the company has provided.

Post the transaction, the Independent Expert has assessed the shares to be worth the equivalent of $0.0055 (and that is based on FY14 historical earnings, not the FY15 performance. (If you apply the same metric to FY15 earnings you get a share value of $0.0069).

Now this is based on an EV/EBITDA multiple of 7.5x (averaging the 7-8x range they used). Given the market average for comparable companies is 11.5x, I think the Independent Expert is being conservative (which they generally tend to do, to protect themselves from getting sued).

So even if you apply a multiple that is a discount to the market average, and just use 10x, you get $0.0074 (if you use the historical FY14 earnings) and you get $0.0085 (if you use the FY15 earnings they are on track for, and that is just annualising the first quarter earnings, whereas they've said the first quarter is the weakest one).

Crowd Mobile have also announced launches in several additional countries which aren't reflected in any revenues and earnings yet. So I expect that FY15 would be even stronger.

Perhaps a bit of balance in the conversation wouldn't go astray!

Regards
Marv