We better first clarify the meaning of "$21M pre-interest and repayment revenue"....
The company has a draw down facility of $47M, which at 8% interest, would be accruing $4M interest a year...then there are the repayments...over how many years?...
if over 10 years, that is $4.7M a year...
therefore by the statement "$21M pre-interest and repayment revenue" AZC probably mean cash flow...
that would be $17M EBITDA...
AZC have $22M in accumulated losses, therefore no tax to be paid for about 4 years..
to me it appears to be around $15M NPAT (no tax) or about 5 cents EPS...
I will be phoning first thing tomorrow to sort it out...
AZC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
