VDM Outlook for 2015, page-92

You can never read the minds of high profile people. Actual motive is to build the company with shareholders profit in mind  or to dilute the shares to such value that individual shareholder will not make any money---you cant make that judgement I guess unless you are a mind reader. When the company share was $2.7 then the market cap was approx. 280 Million, now share is @0.8 c and market cap is 31 Million and off course number of shares is quite high as compared to 2007.......lets say the company does few good things in future and market mood changes from being close to disaster to going in +ve direction a move from 1c to about 10 c is quite within reach because 10c is still cheap but that dip because of BHP kick out would recover.......we can only speculate off course with the info in hand......time will be the true test....

	{caption}Company Historicals{/caption}
1	Per Share Statistics	2005/06	2006/06	2007/06	2008/06	2009/06	2010/06	2011/06	2012/06	2013/06	2014/06
2	Sales ($)	0.00	0.76	1.23	1.27	1.27	1.21	0.65	0.39	0.22	0.01
3	Cash Flow (cents)	0.0	-2.5	1.1	4.3	3.5	7.4	-0.2	-2.3	-1.3	-1.1
4	Earnings (cents)	0.0	5.4	5.6	4.8	-6.9	3.9	-7.0	-3.3	-6.7	-0.4
5	Dividends (cents)	0.0	2.1	2.8	3.5	0.0	0.8	0.0	0.0	0.0	0.0
6	Franking (%)	--	100	100	100	--	100	--	--	--	--
7	Capital Spending (cents)	0.0	-2.7	-5.6	-8.0	-1.5	-1.8	-0.9	-1.1	-0.4	-0.0
8	Book Value ($)	0.55	0.27	0.46	0.61	0.29	0.29	0.21	0.09	0.00	0.00
9	Shares Outstanding (m)	52.3	176.9	268.0	341.8	350.3	507.0	507.0	933.9	933.9	3,127.7
10	Avge Annual PE Ratio(%)	--	11.4	14.6	17.0	0.0	4.5	0.0	0.0	0.0	0.0
11	Relative P/E (%)	--	82.2	99.4	108.9	0.0	35.2	0.0	0.0	0.0	0.0
12	Total Return (%)	--	0.0	58.8	-52.0	-85.5	126.2	-52.2	-31.7	-73.4	-16.3
13	+/- Market (%)	--	0.0	28.5	-39.9	-63.3	112.4	-64.4	-24.6	-94.0	-33.9
14	+/- ASX sector (%)	--	--	--	--	--	--	--	--	--	--
15	Net Interest Cover	--	22.31	7.59	14.27	-3.90	6.29	-15.19	-68.08	232.71	-131.55
16	Net Gearing (%)	-61.9	-17.8	-10.4	28.6	69.9	11.9	39.4	-24.1	-643.8	59.3
17	Debt/Equity (%)	16.7	11.5	23.6	38.6	87.4	24.9	39.4	3.0	89.2	786.1
18	NTA	0.25	0.48	0.80	0.53	0.25	0.38	0.30	0.07	0.00	0.00
19	Market Cap (m)		120	280	163	22	73	33	42	11	31
20	Dividend Yield (%)	--	3.1	2.7	7.4	0.0	5.7	0.0	0.0	0.0	0.0

	{caption}Historical Financials{/caption}
1		2005/06	2006/06	2007/06	2008/06	2009/06	2010/06	2011/06	2012/06	2013/06	2014/06
2	Revenues (m)	0.0	79.7	230.8	405.9	441.7	520.8	331.6	272.4	204.8	24.4
3	Operating margin (%)	--	10.5	11.0	10.0	-2.3	8.4	-10.1	-6.7	-21.3	-57.0
4	Depreciation (m)	0.0	-0.6	-7.7	-10.2	-15.6	-16.4	-14.6	-5.6	-3.6	-1.5
5	Amortisation (m)				-0	-1	-1	-1	-1	-0	-0
6	Income tax rate (%)	--	22.7	27.2	30.0	8.5	22.3	31.9	7.3	-22.3	10.4
7	Net Profit Before Abnormals (m)	0.0	5.7	10.4	15.4	-24.1	16.8	-35.6	-23.3	-62.2	-13.9
8	Net Profit (m)	0.0	5.7	10.4	25.5	-106.0	16.8	-35.6	-54.8	-84.4	-21.4
9	Employees (thousands)	0.0	0.4	0.9	1.2	0.0	0.0	0.0	0.0	0.0	0.0
10	Long term debt (m)	0.0	1.9	16.0	50.1	22.4	21.1	16.9	0.1	0.3	0.2
11	Shareholders Equity (m)	29.0	47.1	124.5	209.6	100.8	147.6	107.8	87.1	2.3	0.6
12	Return on capital (%)		12	9	7	-15	12	-27	-26	-2,357	-1,604
13	Return on Equity (%)	0.0	12.0	8.4	7.4	-23.9	11.4	-33.0	-26.8	-2,666.1	-2,198.0
14	Payout Ratio (%)		39	51	74		21
15	Return on Investments(%)	0.0	12.0	8.4	7.4	-23.9	11.4	-33.0	-26.8	-2,666.1	-2,198.0
16	EBITDA (m)	0.00	8.38	25.27	40.41	-10.02	43.46	-33.48	-18.33	-43.53	-13.92
17	EBIT (m)	0.00	7.76	17.53	29.74	-26.67	25.59	-48.95	-24.78	-47.47	-15.52

	{caption}Capital Structure ($ 000s){/caption}
1
2	Total Debt	4,984	Interest: $245.0
3	Long Term Debt	224.0	(26% of capital)
4	Preferred Stock	0.00
5	Shareholders equity	634.0	(0.00 of capital)

	{caption}Balance Sheet ($ 000s){/caption}
1		2012	2013	2014
2	Cash Assets	23,597	17,095	4,608
3	Receivables	48,736.0	12,507.0	990.0
4	Inventory	952.0	308.0	150.0
5	Others	28,822	14,887	3,474
6	Total Current Assets	102,107	44,797	9,222
7	Account Payable	50,914	39,588	5,506
8	Debt Due	2,468	1,782	4,760
9	Others	13,110	7,476	3,973
10	Total Current Liabilities	66,492	48,846	14,239

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