The estimated cash backing IS WAY BELOW current share price. It is approximately 27.5 cents For details of the cash backing I refer you to my earlier post:
There are lots of "smoke and mirrors shows" in Biota. The unaudited P&L accounts Peter Cook presented to shareholders at the AGM must have some shareholders believing BTA is profitable.
For reputable companies, P&L containing one-off or non-recurring items or “abnormal” that distort the underlying P&L are highlighted to shareholders as P&L after abnormal.
The P&L statement Peter presented as a PROFIT before tax (PBT) is actually a LOSS close to $2m instead. The underlying LOSS turned into a profit because of the $20m GSK settlement.
This speaks loudly for Peter Cook and his mates why they have to resort to post exuberated brokers’ reports on the company website to promote the company.
BTA Price at posting:
33.0¢ Sentiment: Sell Disclosure: Not Held
