Do your figures coz im coming up with some decent valuations on...

Do your figures coz im coming up with some decent valuations on this one. Well over $1.

Every which way i look at it its a screaming buy at these levels.

EV/EBITDA only 5.4 should be closer to between 8-10x. On this basis 25 million x 8 say = $2

Say Net Profit is 20 million next year on revenue of close to $250 million after sale of ihug. Then valuation on EPS is $2 also.

Their debt levels will be significantly reduced and very manageable with the sale of iHUG which should fetch about 30-40 million. Also, previous losses will be used to offset net profits which will provide tax benefits as well.

This one is turning the corner and look to accumulate at these levels IMHO.

By the way they will soon announce the wholseale deal with Netspace to use their ADSL2+ network which should provide further support to the stability of the company and their focus on Australia.

Any comments would be welcome.