SBB has a Mkt Cap of $10.3 Mil, no debt & $30.5 mil cash with a SP of 2.2c.
If one ignores the value of the business one is buying the $30.5 mil cashbox for
$10.3 mil or based on cash alone the SP ought to be 6.5c ( 30.5/10.3 x 2.2)
No wonder Chinese ASX listed companies will go the way of many US listed
Chinese companies and are privatised a few years after listing.
MM
Too good to be true?, page-50
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