update on projected earnings, page-2

Neil,

Previously their was 2 analyst forecasts, now only one. See my post at 30/04/08 10:39.

The best valuation I have recently seen is that given by the independent expert in the notice of meeting on 30/5:
It values the assets of the company at 26c per share undiluted. It also gives a fully diluted value of the assets, however I think that is misleading because it includes the new shares issued, but not the caoital injection from the conversion of options. My personal calculation gave 23c per share if all the 20c options are converted.

That fact that Pivot is willing to take alot of additional shares at 20c each in exchange for assets is a good vote of confidence in the company, imo.

I do wonder whether that share price has been allowed to drift lower with little information or forecasts from the company to allow Pivot to stock up on more shares at a lower price.