Yeah it is starting to sound like a cheap entry point. If you...

Yeah it is starting to sound like a cheap entry point. If you assume their Dec 2015 numbers are correct and they haven't been burning through the cash too quickly... then they should have roughly $55-60m in cash (21cps) and no debt?? So if the market cap is close to $126m (@46c), then the group of businesses (excl. the cash) are worth only circa $70m. Seems a tempting takeover target if it gets too cheap. However, I could be wrong!