Wolf is there any basis for that call on 10cent share price,...

Wolf is there any basis for that call on 10cent share price, which incidentally represents a very very hefty premium on current SP? What are your EPS forcasts for 09/10? I note 08/09 was approx .35cents per share and if you take out income tax benefit and look at continuing earnings EPS was only .117 cents per share. taking out income tax benefit component ICP is tranding on a PER multiple of over 60 times 08/09 earnings! Even accounting for a generous direct charge jolt say continuing operations EPS increases by say 4 times (I forecast a 6 times increase in CUS EPS in 09/10 - needless to say this provision is excessivley generous given the business model differences I have explained earlier I would think a 2.5 increase in continuing EPS is more likely) you are looking at continuing operations EPS of .468 cents per share which would mean on a very very generous basis ICP is trading on current year continuing operations PER multiple of close to 14 (using round numbers). Is there room for an expansion in the multiple to close to 22 given the current state of the market and the unproven growth (but potential) profile of ICP?

On another note in response to Fcauau, a couple of points, from my reading of the corporate structures ICP doesnt have a big brother but a minority shareholder in one of its subsidiaries (albeit a big international company) - not 100% on this and happy to be proven wrong. As for CUS I think you should take a closer look at the substantial holders on the register as it reads like a whos who of Australia's small cap fund managers. The smart small cap insto money has been in CUS for a while now and instos are still coming on board (with top ups as recently as this month or last month). As for China, I agree its got blue sky potential and really is a potential golden egg for companies that can crack it - unfortunately most companies that try end up with scrambled eggs as oppossed to golden ones. CUS is a perfect industry example and the CUS juggernaut was almost derailed on account of an ill conceived foray into China!

Lastly my recent posts arent designed to say ICP isnt a good investment with decent growth potential, however I am just trying to bring some facts into some of the unsubstantiated nonsense on this forum, particularly the market cap comparison between CUS and ICP and the unsubstantiated implied and direct valuations such as 39 cents per share! So far there seems to be "deafening" silence in terms of substantiated responses to some of my points so leave it to you as to what that means......