Target Price 7c - Read Leaf Research Note 25 10 2016, page-10

The report states $11 million EBIT on $55 million revenue.Do they have the results to 31/3/16 or the results for the half year 30/9/16 and put those into the model.I was looking at an announcement where they said an operating profit before depreciation.The valuation in the annual report was $9.75 million for 25% which is $39 million 100% which is not far off the assets.Why would they give 7c do they mention the downside if the deal does not go through and what price are they going to raise at.Would it have been smarter to get the price target at say 3-4c and say we will review once we have more figures in hand?