revised calcs

Must have been half asleep - have revised my crappy sums to allow for tax:
1.905 pre tax
Add back Convertibles interest at 10% = $50K
Add back adj for new options capital at 10% interest (11.6 * .2 * 0.1)= 230K
= $2185 *0.7 = 1.530 mill.
Minus Cap ex = $446K
Add back D and A = $439K
= 1.523 mill adj NPAT

Adj Capitalisation:
Shares: 40095000 shares at 29c = $11.62 mill
Convertibles: convert to 2,083,333 shares at 29c = $0.60mill
Options in the money = 11.6 million * .29 = $3.36 mill
Adj capitalization = $15.58 mill

Adj PE is about 1.52/15.58 = 10 approx (Not adjusting for 650,000 other exec options at 25 cents – shouldn’t make such difference)

Please never rely on my calcs