Ripe for the picking, page-5

Hi Jamwolf

I am the buyer again this morning at 6.5c. Hope I am not being too silly. I find the underlying figures quite outstanding so I hope we are not being lied to. I've got the underlying Price Earning Ratio at just 3.46 assuming a similar figure in the second half of the year to the first and not counting any tax as the company received a pretty solid tax benefit of $2.648m in the first half. If we included the deferred tax assets as tangibles, then the Net Tangible assets are 11.6c. Deferred tax is normally treated as intangible but if we start making profits then it has tangibility in it in my view. The company has net cash of $2.05m and its revenue of over $300m a year is massive compared to the market cap of just $9.36m at this latest price. I know you find the revenue in companies of this type as less positive but it certainly is massive compared to the market cap.

I always use these figures to find my gambles and that is what has me in this stock. Often when it doesn't work, like Dick Smith for instance, it is because we have been lied to.

GPASAS