what is zen worth

I find it amazing, someone has managed to push the share down into the 40s. I watch this share daily, and buy small parcels whenever it hits a new low. So my last sale was at 55 cents, and since then I have bought at 53, 52, 51, 50 and today 48.

My opinion is the share should be priced around 60 cents. Here are my reasons.

eps (after tax) first half of 2019, was 2.62 (and diluted for new shares, it is 1.7 cents)
based on the guidance for 2nd half 2019, the eps will be, diluted, 2.6 cents

so my numbers, just based on their guidance and current margins looks to be 4.3 cents per share after tax (that is even with all the new shares at 58 cents)

if I then take their 2020 revenue/ebitda guidance, using current margins for BOO and MOM, it should be 6.5 cents eps; if Gascoyne contract dies, then it will fall to 5.9 cents

and for more fun, the projects that are under construction, that will be completed in 2020, can be projected into revenue and EBITDA, and my calcs for 2021 give me around 9 cents eps (after tax); reduce that to 8.5 cents if GCY die (for 2021 I did 77 mil revenue and 36 mill EDITDA)

my above numbers (my calcs for me and I hope they are ok) assume no new projects; just what is contracted

I hope I am not wrong! As I have kind of gone 'all in'. Buying a 'safe' share at 50 cents that has contracts that produce eps after tax of 9 cents in two year, seems a no brainer.

I hope I am not wrong!