the real deal.....

OK Sabre now we push the crap aside for a few minutes, egos aside, and discuss what the real deal is.
To answer your question properly we need to look at the facts.

ERG by its own admission has "failed to offer management transparency and accountability", their words not mine.
Failed to achieve project milestones resulting in cost overuns.Missed project variation opportunities. Result loss of profits.
They have since restructured the company using Primavera software at a cost of $5 million. The associated cost cuts are well documented.
The balance sheet post rights will be robust.
They have spent $400 million developing the tech with an approx replacement cost of $700-$800 million. This backs up my research that entry barriers are high.It is highly unlikely ERG will face serious competition at the top end.
The global AFC's market is valued at $13.4 billion from 400 cities. 67% of that market is deemed to be multi-modal, 19% rail and 14% bus. ERG is focussed on multi-modal and bus.
Currently it is installing contracts worth $400 million.It has bid on new contracts valued at $500 million expecting to win at least $240 million within two years.
Targets coming up Gautrain, Berlin,Bejing, Budapest,Dublin,LosAngeles, Denver, Pittsburg, Malardalen,Skne and Clermont.
Completion dates for Sydney Feb 2007, San Fransisco 2006, Rome awaiting final clearance for Lazio, Seattle 2006, Stockholm 2005, Washington 2005, Las Vegas 2004 and Luxemborg 2005.
Anticipated revenues for FY 2004 $210 million. FY 2005 270 million and $300m in 2006.

Net assets post rights will be 39.2c per share.Ex rights 21st July.

Now back to your question when will ERG reach$1.00.Given that ERG is almost profitable now it would not surprise me to see it reach that price by years end.Having said that I expect far more 2-3 years out.
Note members of the board are now buying substantial parcels. Plus interest from a few major players that have been sniffing around for months.
As always this one is HIGH RISK.
cheers.




Firstly ERG intends to issue 335.3m shares.